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<br /> '~1 K t f"'r <br /> RESOLUTION NO. 908 <br /> STATE OF MINNESOTA <br /> Gt>uNTy"bF 'AA:t\'lSEY< . <br /> VlLIAGl3 QF'NEWBF.IGHTQN <br /> q <br /> ~~E:SOLUTTON AU':!:"HORIZlNG THE INVES'TMENT OF' FIREMEN IS RELIEF <br /> ASSOCIATION FUNPp <br /> ~ <br /> WHEREAS the New Brighton Firemen I S Relief As-sociation ha,s <br /> ::unds in excess of current neeqs, and <br /> WHEREAS Minnesota Statutes Anotated Section 424.31 provides <br /> ::or the investment of such funds by the Fire Relief Association <br /> :.n such income paying properties and.,securitie$ as the Village <br /> council shall from time to time authori~e <br /> ." <br /> NOW THEREFORE BE IT RESOLVED by tl1e Council of the Village <br /> :If New Brighton as follows: <br /> A. The New Brighton Fire Relief Association is hereby <br /> authorized to invest its funds in the following <br /> securities: <br /> l. Direct U.S. Government.()bligations <br /> 2~ Federal Agency Issues <br /> 3. State and Minnesota Municipal~ty Bonds <br /> 4. J3ank Certificates of De:posi:t <br /> 5. Bank Time Deposits <br /> , 6. corporate Bonds which have peen rated A <br /> or higher by Standard ancL pc>or 's, and <br /> Moody's Investor's Service, Inc. <br /> BE IT FURTHER RESOLVED, That no investments or reinvestments oj:' <br /> (ol:'porate Bonds shall be made by tl1e Association without th e prior <br /> i:lipproval of the Village Finance Offi~er. <br /> l~dopted this 9th day of February, ,1971. <br /> - <br /> l\TTEST: <br /> _.Y;;;:::ti~ <br /> Vernon C. Pederson, Clerk <br /> (SEAL) <br /> " <br /> ,-;~-: <br /> ;>or' ~; <br /> I <br /> ! <br />