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<br /> ,~ <br /> --A~,HILLS <br /> CITY OF ARDEN HILLS <br /> COUNTY OF RAMSEY <br /> STATE OF MINNESOTA <br /> RESOLllTION NO. 07-04 <br /> RESOLUTION DESIGNATING l\IONEY MARKET DEPOSITORIES <br /> FOR INVESTMENT PURPOSES <br /> \VHEREAS, the City of Arden Hills designates U.S. Bank S1. Paul, N,A. as the official <br /> depository for funds of the City of Arden Hills for calendar year 2007; and <br /> WHEREAS, it is desirable to invest City funds at the highest available interest rate; <br /> NO\V THEREFORE, BE IT RESOLVED that etTeetive this date, the following money <br /> market funds are desit,'llated additional depositories for the sole purpose of investing cash or cash <br /> equivalent funds of the City of Arden Hills: <br /> Minnesota Municipal Liquid Asset Fund (4M Liquid Asset and 4M PLUS Funds); <br /> Wells Fargo Govcmmcnt Money Market Fund; and Salomon Smith Bamcy Money Funds <br /> Government Portfolio Class A- <br /> BE IT FURTHER RESOLVED, that the Treasurer is authorized to take whatever actions <br /> are necessary to make investments in the aforesaid money market funds and to ascertain that <br /> adequate security, as required by the laws of the State of Minnesota, is furnished by such money <br /> market funds to protect the City's deposited funds against financial loss. <br /> ADOPTED BY THE CITY COUNCIL OF TilE CITY OF ARnE <br /> DA Y OF JANUARY, 2007. <br /> ATTEST: <br /> M~L~ <br /> Michelle A. \Volfe, ADl\UNISTRATOR <br /> - ----~ <br />