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<br />;\t <br /> <br />RESOLUTION NO.. 88-16 <br /> <br />STATE OF MINNEDSTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGmDN <br /> <br />RESOLUTION DESIGNATING INSTITUTIONS AS DEPOSI'IORIES OF CITY FUNDS FOR <br />INVESTMENT PURPOSES AND NAMING THE PRIMARY DEPOSI'IORY <br /> <br />Whereas, the City Council nnlst officially designate depositories for funds; and <br /> <br />Whereas, institutions have been invited to submit proposals to serve as the <br />primary depository and invest.Irent depositories; <br /> <br />Whereas, the investment of funds shall be in accordance with Minnesota <br />Statutes and local regulations; <br /> <br />Now, therefore be it resolved that the City Council of the City of New Brighton <br />shall designate: <br /> <br />1. The First State Bank of New Brighton as the primary depository. <br /> <br />2. Investment depositories will be <br /> <br />First State Bank of New Brighton <br />American National Bank <br />Piper, Jaffray and Hopwood <br />Juran and Moody <br />League of Minnesota Cities <br />E.F. Hutton <br />Merrill Lynch <br />Dain Bosworth, Inc. of Minneapolis <br /> <br />Be it further resolved that the City Council approved either a corporate <br />surety bond or collateral furnished as a security when deposits are made at <br />any depository herein specified when the deposit is in excess of the Federal <br />:neposit Insurance Corporation or Federal Saving and Loan Insurance Corporation <br />-guarantee. <br /> <br />Adopted. this <br /> <br />9th <br /> <br />day of Febr'lary, 1988 <br /> <br />f.L:? /1/11 ./---:~//C ,U / <br />~~~~~ <br /> <br />,- <br /> <br /> <br />.~ <br />~garet . Egan . <br />Flllance Dlrector/Clty Clerk <br />