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<br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br /> <br />CITY OF ARDEN HILLS <br />RESOLUTION NO. 86-2 <br /> <br />DESIGNATION OF ADDITIONAL DEPOSITORIES <br />FOR INVESTMENT PURPOSES <br /> <br />. <br /> <br />WHEREAS, Resolution No. 86-1 designates the Norwest <br />Bank, St. Paul, N.A. and the Roseville Bank as official <br />depositories for funds of the City of Arden Hills for the <br />calendar year 1986; and <br /> <br />WHEREAS, it is desirable to invest City funds at <br />the highest available interest rate; <br /> <br />NOW, THEREFORE, BE IT HEREBY RESOLVED that effective <br />this date, the following banks and savings and loans are <br />designated additional depositories for the sole purpose of <br />investing funds of the City of Arden Hills: <br /> <br />American National Bank of St. Paul <br />American Savings and Loan, Stockton, California <br />First Minnesota Savings, F.S.B. <br />First National Bank of St. Paul <br />First National Bank of Minneapolis <br />Norwest Bank Minneapolis, N.A. <br />Oak Park Heights State Bank <br />Midwest Federal Savings and Loan Association <br />Twin City Federal Savings and Loan Association <br /> <br />BE IT FURTHER RESOLVED, that the City Treasurer <br />is authorized to take whatever actions are necessary to make <br />investments at the aforesaid depositories and to ascertain <br />that adequate security, as required by the laws of the State <br />of Minnesota, is furnished by such depositories to protect <br />the City's deposited funds against financial loss. <br /> <br />Passed by the City Council of Arden Hills, Minnesota <br />this 2nd day of January, 1986. <br /> <br />t?~~~A~ <br />Robert L. Woodburn <br />Mayor <br /> <br />ATTEST: <br /> <br />e <br /> <br />~Ldb@~ <br /> <br />Charlotte McNiesh <br />Clerk Administrator <br />