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<br />. <br /> <br />. <br /> <br />. <br /> <br />CITY OF ARDEN HILLS <br />RAMSEY COUNTY, MINNESOTA <br /> <br />RESOLUTION NO. 94-23 <br /> <br />RESOLUTION DESIGNATING DEPOSITORIES <br />FOR INVESTMENT PURPOSES <br /> <br />WHEREAS, Resolution No. 94-01 designates the First Bank St. Paul, <br />N.A. as the official depository for funds of the City of Arden <br />Hills for calendar year 1994; 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 brokerages are designated as depositories for the <br />sole purpose of investing funds of the City of Arden Hills: <br /> <br />Raymond James & Associates, Inc. c/o Hart Securities, Inc. <br />Minnesota Municipal Liquid Asset Fund (4M Fund) <br />Norwest Bank Minnesota N.A., U.S. Government Fund <br />Paine Webber Cash Fund <br />Piper Jaffray Money Market Fund <br />Smith Barney Shearson, Daily Dividend Fund <br /> <br />BE IT FURTHER RESOLVED, that the City Treasurer is authorized to <br />take whatever actions are necessary to make investments at the <br />aforesaid depositories and to ascertain that adequate security, <br />as required by the laws of the State of Minnesota, is furnished <br />by such depositories to protect the City's deposited funds <br />against financial loss. <br /> <br />ADOPTED BY THE ARDEN HILLS <br />1994. <br /> <br />C'TY :ZTH~AY OF MARCH, <br /> <br /> <br /> <br />Thomas R. Sather, Mayor <br /> <br />ATTEST: <br /> <br />Dorob <br /> <br /> <br />{/ <br />~~/IA.- <br />Administrator <br />