HomeMy WebLinkAbout95-002
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CITY OF ARDEN HILLS
RAMSEY COUNTY
RESOLUTION NO. 95-02
RESOLUTION DESIGNATING ADDITIONAL MONEY MARKET DEPOSITORIES
FOR INVESTMENT PURPOSES
WHEREAS, Resolution No. 95-01 designates the First Bank St. Paul, N.A. as the official
depository for funds of the City of Arden Hills for calendar year 1995; and
WHEREAS, it is desirable to invest City funds at the highest available interest rate;
NOW THEREFORE, BE IT RESOLVED that effective this date, the following money market
funds are designated additional depositories for the sole purpose of investing cash or cash
equivalent funds ofthe City of Arden Hills:
Minnesota Municipal Liquid Asset Fund (4M Fund)
Painewebber Money Fund
Piper Jaffray Money Market Fund
Norwest Bank Minnesota N.A., Prime Value U.S. Government Fund
Smith Barney Money Funds Inc Cash Portfolio
BE IT FURTHER RESOLVED, that the City Treasurer is authorized to take whatever actions
are necessary to make investments in the aforesaid money market funds and to ascertain that
adequate security, as required by the laws of the State of Minnesota, is furnished by such money
market funds to protect the City's deposited funds against financial loss.
PASSED AND ADOPTED BY THE CITY
THIS 3RD DAY OF JANUARY, 1995.
ATTEST:
t/J.".~ fl. {JP
TERRANCE R. POST, ACTING CITY ADMINISTRATOR