Laserfiche WebLink
<br />RESOLUTION NO. <br />06-005 <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 2006 <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 ofthe 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 2006. <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 />Wachovia Securities <br />Smith Barney/Citigroup <br />US Bank <br />Piper Jaffray <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 10th day of January, 2006. <br /> <br />~ <br /> <br />Steve Larson, Mayor <br /> <br />- --........ .~ '- ~, '- <br /> <br /> <br />,,,,"", <br />$(/0-,,,. <br /> <br />S. Fulton, City Manager <br /> <br />ATTEST: <br />/7 '_: - /l /]'''- d'. ,~t'"- ,/ <br />A~lftd v( Ylut t',{~ ,tv- <br /> <br />Daniel A. Maiers <br />Director of Finance and Support Services <br /> <br />I:\COUNCIL\Resolutions\2006\Finance\06INVDEP.doc <br />