HomeMy WebLinkAbout07-004
,~
--A~,HILLS
CITY OF ARDEN HILLS
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLllTION NO. 07-04
RESOLUTION DESIGNATING l\IONEY MARKET DEPOSITORIES
FOR INVESTMENT PURPOSES
\VHEREAS, the City of Arden Hills designates U.S. Bank S1. Paul, N,A. as the official
depository for funds of the City of Arden Hills for calendar year 2007; and
WHEREAS, it is desirable to invest City funds at the highest available interest rate;
NO\V THEREFORE, BE IT RESOLVED that etTeetive this date, the following money
market funds are desit,'llated additional depositories for the sole purpose of investing cash or cash
equivalent funds of the City of Arden Hills:
Minnesota Municipal Liquid Asset Fund (4M Liquid Asset and 4M PLUS Funds);
Wells Fargo Govcmmcnt Money Market Fund; and Salomon Smith Bamcy Money Funds
Government Portfolio Class A-
BE IT FURTHER RESOLVED, that the 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.
ADOPTED BY THE CITY COUNCIL OF TilE CITY OF ARnE
DA Y OF JANUARY, 2007.
ATTEST:
M~L~
Michelle A. \Volfe, ADl\UNISTRATOR
- ----~