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<br />I~' <br /> <br />" <br />II: _ _ ~....;..i:: <br /> <br />'" <br /> <br />RESOLUTION NO. 87-2R <br /> <br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />CITY OF NEW BRIGHTON <br /> <br />RESOLUTION DESIGNATING DEPOSITORIES FOR CITY FUNDS <br /> <br />WHEREAS, Resolution 87-1 was adopted designating depositories <br />and authorized investment institutions: and <br /> <br />WHEREAS, the City would like to add the Minnesota League of <br />cities as an institution through which the City may purchase <br />authorized investments; and <br /> <br />WHEREAS, for the purpose of investing through the Minnesota <br />League of Cities, the city Manager and Finance Director will be <br />authorized to enter into a joint powers agreement. <br /> <br />NOW THEREFORE BE IT RESOLVED that: <br /> <br />1. The First State Bank of New Brighton shall be designated <br />as the city's primary depository for 1987. <br /> <br />2. The following institutions will be designated as <br />additional depositories: <br /> <br />American National Bank <br />First Bank, St. Paul <br /> <br />3. The following institutions will be designated as <br />insti tutions through which the city may purchase <br />authorized investments: <br /> <br />First State Bank of New Brighton <br />Piper, Jaffrey and Hopwood <br />American National Bank <br />First Bank, st. Paul <br />Juran and Moody <br />Twin City Federal Savings and Loan <br />Datn Bosworth Incorporated of Hinneapolis <br />Minnesota League of Cities <br /> <br />4. Approval of the above institutions shall be contingent <br />upon their continuing to meet the guidelines of the <br />Financial Policy Advisory BOard. <br /> <br />5. Either a corporate surety bond or collateral shall be <br />provided as security when deposits made at any depository <br />herein specified exceed the Federal Depository Insurance <br />Corporation or Federal Savings and Loan Insurance <br />Corporation guarantee. <br /> <br />Adopted this <br /> <br />lOth <br /> <br />day of March, 1987. <br /> <br />R~ <br /> <br />ATTEST: <br /> <br /> <br /> <br />~. (SEA~L <br /> <br />-"., <br /> <br />: "",-. <br /> <br />'--, <br />