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<br />.: <br /> <br />~ <br /> <br />RESOLUTION NO. 94---13-6 <br /> <br />~ <br /> <br />" <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION DESIGNATING INSTITUTIONS AS DEPOSITORIES OF CITY FUNDS FOR <br />INVESTMENT PURPOSES AND NAMING THE PRIMARY DEPOSITORY FOR 1995. <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 guidelines <br />of theCity'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, by the New Brighton City Council, that: <br /> <br />1). First Bank Apache shall be designated as the City's primary depository for 1995. <br /> <br />2). The institutions with which the City may make investments shall be as follows: <br /> <br />American National Bank <br />Dain Bosworth, Inc. <br />First Bank Apache <br />Firstar Bank of New Brighton <br />Insight Investment Management, Inc. <br />Juran And Moody, Inc. <br />Norwest Investment Services <br />Piper Capital Management <br />Prudential Securities <br />Smith Barney, Inc <br /> <br />3). Approval of the above institutions shall be contingent upon their continuing to meet <br />the guidelines of the City's official investment policy, <br /> <br />4). Either a corporate surety bond or collateral shall be provided as security when deposits <br />are made at any depository herein specified exceed the FDIC or FSLIC guarantee. <br /> <br />Adopted this _ day of <br /> <br /> <br />~ <br />~~ <br /> <br />ATTEST: <br /> <br />Margaret gan, <br />Finance Director/City Clerk <br /> <br />(Seal) <br />