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<br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF ARDEN HILLS <br /> <br />Resolution No. 85-2 <br /> <br />DESIGNATION OF ADDITIONAL DEPOSITORIES <br />FOR INVESTMENT PURPOSES <br /> <br />. <br /> <br />WHEREAS, Resolution No. 85-1 designates the Norwest Bank St. Paul, <br />N.A. and the Roseville State Bank as official depositories for funds of <br />the City of Arden Hills for the calendar year 1985; and <br /> <br />WHEREAS, it is desirable to invest City funds at the highest <br />available interest rate. <br /> <br />NOW, THEREFORE, BE IT HEREBY RESOLVED that effective this date, <br />the following banks and savings and loans are designated additional depositories <br />for the sole purpose of 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 Federal Savings and Loan Assoc. of Minneapolis <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 Assoc. <br />Minnesota Federal Savings and Loan Assoc. <br />Twin City Federal Savings and Loan Assoc. <br /> <br />BE IT FURTHER RESOLVED, that the City Treasurer is authorized <br />to take whatever actions are necessary to make investments at the afore- <br />said depositories and to ascertain that adequate security, as required by <br />the laws of the State of Minnesota, is furnished by such depositories to <br />protect the City's deposited funds against financial loss. <br /> <br />Passed by the City Council of Arden Hills, Minnesota this 2nd <br />day of January, 1985. <br /> <br />e~~ <br /> <br />Mayor <br /> <br />ATTEST: <br /> <br />. ClitA/LZ1P~ <br />Charlotte McNiesh <br />Clerk Administrator <br /> <br />.. <br />