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<br />Ii <br /> <br />RESOLUTION NO.QQ-003 <br /> <br />~ <br /> <br />.... <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />~ <br /> <br />A RESOLUTION DESIGNATING INSTITUTIONS AS DEPOSITORIES OF CITY FUNDS <br />FOR INVESTMENT PURPOSES AND NAMING THE PRIMARY DEPOSITORY FOR 1999. <br /> <br />WHEREAS, the City Council must officially designate depositories for funds; and <br /> <br />WHEREAS, the investment of funds shall be in accordance with Minnesota Statutes and <br />guidelines of the City's official investment policy; and <br /> <br />WHEREAS, the City has used the services of US Bank Apache and other institutions for <br />investment purposes; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that: <br /> <br />1. US Bank Apache shall be designated as the City's primary depository for 1999. <br /> <br />2. The institutions with which the City may make investments shall be as follows: <br /> <br />Dain Rauscher Inc. <br />Insight Investment Management, Inc. <br />Juran and Moody, a division of Miller, Johnson & Kuehn, Incorporated <br />Morgan Stanley Dean Witter <br />Norwest Investment Services, Inc. <br />Prudential Securities, Incorporated <br />Salomon Smith Barney, Inc. <br />US Bank Apache <br />U.S. Bancorp Investments, Inc. <br /> <br />3. Approval of the above institutions shall be contingent upon their continuing to meet the <br />guidelines of the City's official investment policy. <br /> <br />4. Either a surety bond or collateral shall be provided as security when deposits made at any <br />depository herein specified exceed the FDIC or FSLIC guarantee. <br /> <br />Adopted this ~ day of January, 1999. <br /> <br />1\t.J <br /> <br />~ <br /> <br />~~Manager <br /> <br />ATTESt: <br /> <br />.~ <br />- A-. "-\ <br />l\1arg;'eiA. U;~ " <br />J411anceDirector/City Clerk <br /> <br />I :\SHARED\COUNCIL\RESOLUTI\FINANCE\1999\99INVDEP. WPD <br />