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<br /><' ~l'":! <br /> <br />RESOLUTION NO. 02-005 <br /> <br />, - <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 2002 <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 the services of US Bank Apache and other institutions for <br />investment purposes; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that: <br /> <br />I. US Bank Apache shall be designated as the City's primary depository for 2002. <br /> <br />2. The institutions with which the City may make investments shall be as follows: <br /> <br />RBC Dain Rauscher Inc. <br />Insight Investment Management, Inc. <br />Morgan Stanley <br />Wells Fargo Brokerage Services, LLC <br />Prudential Securities, Incorporated <br />Salomon Smith Barney, Inc. <br />US Bank Apache <br />lJ .S. Bancorp Investments, Inc. <br />Miller, Johnson, Steichen, Kinnard <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 8th day of January, 2002. <br /> <br />~~ <br />i 'I . A~ <br /> <br />Steve Larson, May~r <br /> <br /> <br />ATTEST: <br /> <br />.. <br /> <br /> <br />~I(,~ <br /> <br />Daniel A. Maiers <br />Finance Director/City Clerk <br /> <br />I:\S HARED\COUNCn ,\Resolutions\2002\INVDEP ,doc <br />