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89-021
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89-021
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<br />r' / ,1/ <br />I /' ,I" <br />I, (, <br />i i <br /> <br />RESOLUTION NO. <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION DESIGNATING INSTITUTIONS AS DEPOSI'IDRIES OF CITY FUNDS FOR <br />INVESTMENT PURPOSES AND NAMING THE PRIMARY DEPOSITORY <br /> <br /> <br />Whereas, the City Council must officially designate depositories for <br />funds; and <br /> <br />Whereas, the investment of funds shall be in acc~\ ce with Minnesota <br />Statutes and guidelines estcmlished by the Finan' 'policy Advisory <br />Board; and <br /> <br />Whereas, the City has used the services of th" e,f2"J .' st . State Bank of New <br />Ii Brighton and other institutions for inve~~t.~ses; <br /> <br />Ii Now, therefore be it resolved that: )' <br /> <br />11 ' V 'r} 1. '!'he First State Bank of New Brighff~~ll be designated as the <br />1;,\\" City's pimary depository f~ 1~89 \JJ ' <br /> <br />2. '!'he institutions with whicl;>_'S?s Fi ty may make investrrents shall <br />be as follows: ""~- l ')' ,. <br />, / <br />Arrerican N tio 1 ~ <br />Dain Boswo Inc i ated of Minneapolis <br />First Bank -. ti4 sociation <br />First State ,'" New Brighton <br />Juran and Incorporated <br />League of Mione ota Cities <br />Merrill Lynch <br />Piper, Jaf ay and Hopwood <br />Shears , Hutton, Incorporated <br /> <br />3. Approv!,t ,ll~~;::., e above institutions shall be contingent upon their <br />continh~~"" rreet the guidelines of the Financial Policy Advisory <br />Board. '",/ <br /> <br />4. Either~/co=ate surety bond or collateral shall be provided as <br />securitY\lwhen deposits made at any de}?Ository herein specified <br />exceed the Federal Depository Insurance COrporation or Federal <br />Savings and Loan Insurance Corporation guarantee. <br /> <br />f', <br />op-eed this <br /> <br />A~T: <br /> <br />! <br />:! <br />1\ <br />\!, <br />I: <br />'I <br />I, <br />L <br />'I <br />'i <br />:11 <br />!! <br /> <br /> <br />day of <br /> <br />1989. <br /> <br />Robert J. Benke, Mayor <br /> <br />Margaret A. Egan <br />Finance Director <br /> <br />, I ' /f' . if( / <br />'~'jhCd i(. "i~' < J i" //,-'}/ <br />Samantha Orduno, <br />Acting City Manager <br />
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