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90-011
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90-011
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<br />" <br /> <br />,,- ... <br /> <br />RESOLUTION NO. 90~~ <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 1990 <br /> <br />WHEREAS, the City Council must officially designate depositories for <br />funds; and <br /> <br />WHEREAS, the investment of funds shall be in accordance with Minnesota <br />Statutes and guidelines established by the Financial Policy Advisory <br />Board; and <br /> <br />WHEREAS, the City has used the services of the Firstar Bank of New <br />Brighton and other institutions for investment purposes; <br /> <br />NOW THEREFORE BE IT RESOLVED, by the New Brighton City Council, that: <br /> <br />1. The Firstar Bank of New Brighton shall be designated as the City's <br />primary depository for 1990. <br /> <br />2. The institutions with which the City may make investments shall be as <br />follows: <br /> <br />American National Bank <br />Dain Bosworth Inc. of Minneapolis <br />First Bank National Association <br />Firstar Bank of New Brighton <br />Juran and Moody <br />League of Minnesota Cities <br />Merrill Lynch <br />Piper, Jaffrey, and Hopwood <br />Shearson, Lehman, Hutton <br /> <br />3. Approval of the above institutions shall be contingent upon their <br />continuing to meet the guidelines of the Financial Policy Advisory <br />Board. <br /> <br />4. Either a corporate surety bond or collateral shall be provided as <br />security when deposits made at any depository herein specified exceed <br />the Federal Depository Insurance Corporation or Federal Savings and <br />Loan Insurance Corporation guarantee. <br /> <br />Adopted this -1.l..th day of Februarv, 1990. <br /> <br /> <br />~ <br /> <br />ATTEST~- <br /> <br />~ ~., <br />" L ('" \ ' <br />'. "', ., l \ llJif,;\&? <br />avid Childs, <br />City Manager <br /> <br />\tnM _~. <br /> <br />~Egan, <br />Finance Di.rector/City Clerk <br /> <br />(SEAL) <br />
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