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<br />1-- <br /> <br />/0.. <br /> <br />1.01. The City, pursuant to Minnesota Statutes, Sections IISA.OI through I ISA.OS, has <br />authority to invest "Public Funds" as defined in Minnesota Statutes, Section lISA.OI (4) <br /> <br />1.02. Public Funds may be invested in the manner and in the securities detailed in <br />Minnesota Statutes, Sections 1 ISA.04 and IISA.05. <br /> <br />1.03. Minnesota Statutes, Section lISA.02(l) permits the City Council to authorize the <br />treasurer or chief financial officer to make investments. <br /> <br />1.04. The City of Centerville is a "Government Entity" as defined in Minnesota <br />Statutes, Section lISA.O 1 (2). <br /> <br />1.05. Subject to compliance with Minnesota Statutes, Section lISA.04(9), the treasurer <br />or chief financial officer may purchase securities through a broker-dealer. <br /> <br />Section 2. Approval of Accountllnvestments. <br /> <br />2.01. The Financing Director, who is the City's "treasurer or chief fmancial officer", is <br />authorized to open and maintain an investment account with Pershing LLC through Northland <br />Securities, Inc. (''NSI''), and any Pershing or NSI affiliate, subsidiary, or successor corporation, <br />for the purpose of buying and selling such securities as may be permitted by Minnesota Statutes, <br />Sections lISA.OI through lISA.OS. The trading of options, trading on margin, and selling short <br />is not authorized. <br /> <br />2.02. The or any duly appointed deputy thereto are <br />authorized to act on behalf of the City with respect to the PershinglNSI investment accounts <br />without any limitations. This authority includes, but is not limited to, the authority to open and <br />close investment accounts, to execute documents on behalf of the City, to order securities <br />transactions, to order assignment or transfer of securities and distribution of proceeds, and to <br />otherwise make investment decisions on behalf of the City with respect to any investments or <br />investment accounts. <br /> <br />2.03. That PershinglNSI and all transfer agents are authorized to rely upon the oral or <br />written instructions of the without <br />further inquiry into that person's authority to act on behalf of the City. Furthermore, <br />PershinglNSI and all transfer agents may continue to exercise such reliance until the City <br />provides PershingINSI with a certified copy of a resolution of the City revoking or modifying this <br />resolution. <br /> <br />centerville COIp res <br /> <br />Page 2 <br />