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<br /> ~, <br /> '-A.~ HILLS <br /> CITY OF ARDEN HILLS <br /> COUNTY OF RAMSEY <br /> ST A TE OF MINNESOTA <br /> RESOLUTION NO. 07-03 <br /> RESOLUTION DESIGNATING BROKERAGE FIRMS FOR INVESTMENT IN <br /> FINANCIAL INSTRUMENTS AUTHORIZED BY STATE STATUTE <br /> CONSISTENT \VITH THE CITY INVESTMENT POLICY <br /> \VlIEREAS, it is desirable to invest City funds at the highest available interest rate; <br /> NO\V THEREFORE, BE IT RESOLVED that effective this date, the following brokeragc <br /> firms are designated for thc sole plll1Jose ofinvesting City funds in Federal government instmments <br /> or other authorized investments allowed by State statutes and consistent with the fornlal investmcnt <br /> policy of the City: <br /> Oain Rauscher Corp. <br /> Minnesota Municipal Money Market fund (4M Liquid Asset and 4M PLUS Funds) <br /> Wells Fargo Brokerage Services, LLC <br /> Salomon Smith Barney Inc. <br /> BE IT FURTHER RESOLVED, that the Treasurer is authorized to take whatever actions <br /> are necessary to make invcstments at the aforesaid brokerage tirms and to ascertain that adequate <br /> security, as required by the laws of the 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 /> BE IT FURTHER RESOLVED, that no collateral be required {or Federal government <br /> instruments since these investments are backed by the full faith and credit of the United States <br /> government <br /> ADOPTED BY THE CITY COUNCI <br /> DA Y OF JANUARY, 2007. <br /> ~Oll~~ <br /> Michelle A. \Volfe, Administrator <br />