Laserfiche WebLink
<br />'I <br /> <br />RESOLUTICINlNO. 02- 038 <br /> <br />,...,:. <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />A RESOLUTION AMENDING THE CITY'S INVESTMENT POLICY TO INCLUDE <br />GUARANTEED INVESTMENT CONTRACTS <br /> <br />WHEREAS, New Brighton's current investment policy does not authorize Guaranteed Investment <br />Contracts; and <br /> <br />WHEREAS, Guaranteed Investment Contracts offer several advantages over bonds and money <br />market instruments in situations where the exact amounts and specific dates for required use of the <br />funds is unknown; and <br /> <br />WHEREAS, Minnesota Statues 118A.OS Subd. S authorizes the use of Guaranteed Investment for <br />public funds; and <br /> <br />WHEREAS, Guaranteed Investment Contracts may be a good vehicle for investment of the bond <br />proceeds for the Public Safety Facility; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that: <br /> <br />1. New Brighton's investment policy is amended to include Guaranteed Investment Contracts as <br />and authorized investment; <br /> <br />2. Only United States banks and insurance companies shall be authorized issuers or guaranters. <br /> <br />Adopted this 23rd day of April, 2002. <br /> <br />~LQh~ <br /> <br />Steve Larson, Mayor <br /> <br /> <br />" <br /> <br />ATTEST: <br /> <br />, <br /> <br />I) :-' '7 <br />Af;~?/J::-c;~'a. ~d>CC<-C~ <br />Daniel A. Maiers <br />Finance Director/City Clerk <br /> <br />I:\SHARED\COUNCIL\ResoIUlions\2002\Finance\amendinvpolicy.doc <br />