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98-005
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98-005
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<br />. <br />oil. '-~ <br /> <br />RESOLUTION NO.98-00S <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 1998. <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 First Bank Apache and other institutions for <br />investment purposes; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that: <br /> <br />1. First Bank Apache/U.S. Bank Apache shall be designated as the City's primary depository <br />for 1998. <br /> <br />2. The institutions with which the City may make investments shall be as follows: <br /> <br />Dain Bosworth Inc. <br />First Bank Apache <br />FBS Investment Services, Inc. <br />Insight Investment Management, Inc. <br />Juran and Moody, a division of Miller, Johnson & Kuehn, Incorporated <br />Norwest <br />Piper Capital Management <br />Piper Jaffray, Inc. <br />Prudential Securities, Incorporated <br />Salomon Smith Barney, 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 FSLTC guarantee. <br /> <br />Adopted this 13th day of January, 1998. <br /> <br />-, <br />I <br /> <br />, , <br />,( <br /> <br />~ <br /> <br />" <br />, <br /> <br />Ii <br />" <br />I- <br /> <br /> <br />I,' ATTEST: <br /> <br /> <br />MargaretA.~~ <br />Finance Director/City Clerk <br /> <br />I:\SHARED\COUNCIL \RESOL UTI\FINANCE\ J 998\98INVDEP. WPD <br />
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