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<br />J ,:1.. ,_, <br /> <br /> <br /> <br />RESOLUTION NO. 159 <br /> <br />RESOLUTION AUTHORIZING THE IIWESThENT IUID REIjJVE,STlV'lENT OF IvIUNICIPAL <br />FUNDS. <br /> <br /> <br /> <br />WHR~EAS on occasion there exists in the various municipal funds idle or <br /> <br />surplus monies and <br /> <br />WHEREAS it is desirable and in accordance with sound .Administrative and <br />fiscal management principles to invest these monies and <br />WHEREAS 1linnesota Statues 471.56 and 475.66 permit such investments in <br />general obligations of the United States, the State of Minnesota or <br />and other state mlL'YJ.icipality and <br />WHEREAS the proper and expedient investment of funds requires a maximum <br /> <br />degree of Administrative flexibility <br /> <br />NOW THEREFORE BE IT RESOLVED by the Village Council of New Brighton as <br /> <br />follows: <br /> <br />1. Any municipal funds not presently needed for other purposes may <br />be invested by the Village Manager in accordance with the terms <br />of the resolution. <br /> <br />2. There shall always be maintained in any sinking fund sufficient <br />cash to provide for the annual payment of principal and interest <br />on the obligations for which the fund vlaS created. A.ny surplus <br />in any sinking fund above such ar!10lL'YJ.t and any surplus in any other <br />fund not presently needed for other purposes may be invested by <br />him in any general obligation of the United States, tje state of <br />}linnesota, or any of its municipalities, and may be used to <br />purchase any obligation of the issue for which the flL'YJ.d is creatad <br />or may be used to redeem any obligation of said issue prior to <br />maturity in accoraance with its terms. <br /> <br />3. That the Village 1hnager shall report to the Council investments <br />that are made and including any additional information the Council <br />may d esire with respect to such investments. <br /> <br /> <br />Adopted by the Village Council this :2 )j"7 day of xf~( /71/ d>119 tp '::.< <br /> <br /> <br />iLMt1~ <br /> <br />Mayor . f . / , <br /> <br />.---.-----------. /I,~. L l/ <br />~ j /.. \', J /.' <br />-' z-'-~ ./ ' :/."' j , / <br />/. 'c, ~. i,"' /']if' <br />'l.,)f'-/, ',f-r'~\1,-' _,.?......__ <br />ATTEST: <br /> <br />~ hl /; , <br />(2--(u ,((/i?l/-. ..... J' t r-j ~}'h' .-' <br />Glerk-TM3asurer, <br /> <br />SEAL <br />