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<br />. <br /> <br />. <br /> <br />. <br /> <br />~ <br />~~HlLLS <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 05-03 <br /> <br />RESOLUTION DESIGNATING BROKERAGE FIRMS FOR INVESTMENT IN <br />FINANCIAL INSTRUMENTS AUTHORIZED BY STATE STATUTE <br />CONSISTENT WITH THE CITY INVESTMENT POLICY <br /> <br />WHEREAS, it is desirable to invest City funds at the highest available interest rate; <br /> <br />NOW THEREFORE, BE IT RESOLVED that effective this date, the following brokerage <br />firms are designated for the sole purpose of investing City funds in Federal government instruments <br />or other authorized investments allowed by State statutes and consistent with the formal investment <br />policy of the City: <br /> <br />Dain Rauscher Corp. <br />Minnesota Municipal Money Market Fund (4M Liquid Asset and 4M PLUS FlU1ds) <br />Wells Fargo Brokerage Services, LLC <br />Salomon Smith Barney Inc. <br /> <br />BE IT FURTHER RESOLVED, that the Treasurer is authorized to take whatever actions <br />are necessary to make investments at the aforesaid brokerage firms and to ascertain that adequate <br />security, as required by the laws of the State of Minnesota, is furnished by the issuing bank or <br />savings and loan to protect the City's deposited funds against financial loss; and <br /> <br />BE IT FURTHER RESOLVED, that no collateral be required for Federal government <br />instruments since these investments are backed by the full faith and credit of the United States <br />government. <br /> <br />ADOPTED BY THE CITY COUNCIL OF THE CITY OF ARDEN HILLS THIS 10th <br />DAY OF JANUARY, 2005. ~ ~. <br /> <br />~verl~W i, MAYOR <br /> <br />ATTEST: l-v..o L M ~ <br />\M\J. ~ J <br />Michelle A. Wolfe, Administrator <br />\\Earth\Admin\Council\Resolutions\2005\05-0J, Designating Brokerage Firms.doc <br />