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<br />- <br /> <br />.-... <br /> <br />STATE OF MINNESOTA <br /> <br />COUNTY OF RAMSEY <br /> <br />CITY OF ARDEN HILLS <br /> <br />RESOLUTION NO. 88-3 <br /> <br />RESOLUTION DESIGNATING BROKERAGE FIRMS FOR <br />INVESTMENT IN FEDERAL GOVERNMENT INSTRUMENTS <br /> <br />WHEREAS, Resolution No. 88-2 designates several banks <br />and savings and loan companies as depositories for the sole <br />purpose of investing funds of the City of Arden Hills, and <br /> <br />WHEREAS, it is desirable to invest City funds at the <br />highest available interest rate; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that, effective this <br />date, the following brokerage firms are designated for the sole <br />purpose of investing City funds in federal government <br />instruments: <br /> <br />. <br /> <br />Kidder, Peabody & Company, Inc. <br />Merrill, Lynch, Pierce, Fenner & Smith, Inc. <br /> <br />BE IT FURTHER RESOLVED that the City Treasurer is <br />authorized to take whatever actions are necessary to make <br />investments at the aforesaid brokerage firms, and <br /> <br />BE IT FURTHER RESOLVED that no collateral be required <br />since investments are authorized only in federal government <br />instruments which are backed by the full faith and credit of the <br />United States Government. <br /> <br />Passed by the Arden Hills City Council this 4th day of <br />January, 1988. <br /> <br />/7 <br />/J/ ,;4. /-''7.." /' '.' z /4'~ <br />;/\ 4,&-(:: Z.;77';--:""/'':?/f''?';, ,,' .,.~-, <br />Robert L. Woodburn, Mayor <br /> <br /> <br />atricia orrison <br />Clerk Administrator <br /> <br />. <br /> <br />.... <br />