HomeMy WebLinkAbout07-048
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~HILLS
CITY OF ARDEN HILLS
COUNTY OF RAMSEY
STATE OF MINNESOTA
RESOLUTION NO. 07-48
RESOLUTION DESIGNATING AN ADDITIONAL DEPOSITORY
FOR INVESTMENT PURPOSES
WHEREAS, the City of Arden Hills designates U.S. Bank St. 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;
NOW THEREFORE, BE IT RESOLVED that effective this date, the following depository
is designated as an additional depository for the sole purpose of investing cash or cash equivalent
funds of the City of Arden Hills:
Affinity Plus Federal Credit Union.
BE IT FURTHER RESOLVED, that the Treasurer is authorized to take whatever actions
are necessary to make investments in the aforesaid depository and to ascertain that adequate security,
as required by the laws ofthe 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 THE CITY OF ARD
DAY OF APRIL, 2007.
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ATTEST:
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Michelle A. Wolfe, ADMINISTRATOR