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<br />.::. <br /> <br />RESOLUTION NO. 03-003 <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />A RESOLUTION DESIGNATING INSTITUTIONS AS DEPOSITORIES OF CITY FUNDS <br />FOR INVESTMENT PURPOSES AND NAMING THE PRIMARY DEPOSITORY FOR 2003 <br /> <br />~ 1 <br /> <br />WHEREAS, the City Council must officially designate depositories for funds; and <br /> <br />WHEREAS, the investment of funds shall be in accordance with Minnesota Statutes and <br />guidelines of the City's official investment policy; and <br /> <br />WHEREAS, the City has used and been satisfied with the services of US Bank and other <br />institutions for investment purposes; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that: <br /> <br />1. US Bank shall be designated as the City's primary depository for 2003. <br /> <br />2. The institutions with which the City may make investments shall be as follows: <br /> <br />RBC Dain Rauscher Inc. <br />Voyager Asset Management, Inc. (4M Fund) <br />Morgan Stanley <br />Wells Fargo Brokerage Services, LLC <br />Prudential Securities, Incorporated <br />Salomon Smith Barney, Inc. <br />US Bank <br />U.S. Bancorp Investments, Inc. <br /> <br />3. Approval of the above institutions shall be contingent upon their continuing to meet the <br />guidelines of the City's official investment policy. <br /> <br />4. Either a surety bond or collateral shall be provided as security when deposits made at any <br />depository herein specified exceed the FDIC or FSLIC guarantee. <br /> <br />Adopted this 14th day of January, 2003. <br /> <br />ATTEST: <br /> <br />t1tl"'l/~,,/:::t/ .~)'ff'ctc lC(<t-. <br /> <br />Daniel A. Maiers <br />Finance DirectorlCity Clerk <br /> <br />I :\SHARED\COUNCIL \Resolutions\2003\finance\03INVDEP .doc <br /> <br />~ <br /> <br />Steve Larson, Mayor <br /> <br />~JtJ~ <br /> <br />M tthew S. Fulton, City Manager <br />