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<br />. <br /> <br />. <br /> <br />. <br /> <br />CITY OF ARDEN HILLS <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />RESOLUTION NO. 01-03 <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, Resolution No. 01-02 designates several Money Market Funds depositories for the <br />sole purpose of investing fimds of the City of Arden Hills; and <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 <br />instruments or other authorized investments allowed by State statutes and consistent with the <br />formal investment policy of the City: <br /> <br />Dain Rauscher Corp. <br />Minnesota Municipal Money Market Fund (4M Liquid Asset and 4M PLUS <br />Funds) <br />Wells Fargo Brokerage Services, LLC <br />Salomon Smith Barney Inc. <br /> <br />BE IT FURTHER RESOLVED, that the City 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 ofthe 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 />PASSED AND ADOPTED BY THE CITY COUNCw' OF TH, 91TY OF ARDEN HILLS <br />THIS 2"d DAY OF JANUARY, 2001. .~ /1 l// <br />1/ 11/ <br />(tJ, <br />D NNIS PRO ST, MAYOR <br /> <br /> <br />ATTEST: <br />,. <br /> <br />i.'..... <br />;;/,);, .. ,;,1;,,;:/';."', ..',' /.:_ <br />("_i : .f < /' ,.--t~.."t'., .;.c'-' 4- '. <br />,I; -..;,.. I ./ y' _, " ~.. ,_'" co'- .j ~ <br />JOSEPH pl. LYNCH, CiTY ADMINISTRATOR <br />