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CITY OF ARDEN HILLS
RAMSEY COUNTY, MINNESOTA
RESOLUTION NO. 94-23
RESOLUTION DESIGNATING DEPOSITORIES
FOR INVESTMENT PURPOSES
WHEREAS, Resolution No. 94-01 designates the First Bank St. Paul,
N.A. as the official depository for funds of the City of Arden
Hills for calendar year 1994; and
WHEREAS, it is desirable to invest City funds at the highest
available interest rate;
NOW, THEREFORE, BE IT HEREBY RESOLVED, that effective this date,
the following brokerages are designated as depositories for the
sole purpose of investing funds of the City of Arden Hills:
Raymond James & Associates, Inc. c/o Hart Securities, Inc.
Minnesota Municipal Liquid Asset Fund (4M Fund)
Norwest Bank Minnesota N.A., U.S. Government Fund
Paine Webber Cash Fund
Piper Jaffray Money Market Fund
Smith Barney Shearson, Daily Dividend Fund
BE IT FURTHER RESOLVED, that the City Treasurer is authorized to
take whatever actions are necessary to make investments at the
aforesaid depositories and to ascertain that adequate security,
as required by the laws of the State of Minnesota, is furnished
by such depositories to protect the City's deposited funds
against financial loss.
ADOPTED BY THE ARDEN HILLS
1994.
C'TY :ZTH~AY OF MARCH,
Thomas R. Sather, Mayor
ATTEST:
Dorob
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Administrator