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<br />RESOLUTION NO. 00-Q04 <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 FOR2000. <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 ofthe 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 2000. <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 FSLlC guarantee. <br /> <br />Adopted this 11th day of January, 2000. <br /> <br />~LM,D~ <br /> <br />Steve Larson, Mayor <br /> <br /> <br />+d1:.;uaanager <br /> <br />ATtEST: <br /> <br />. .~d"N <br />M~rgarci A. Egan <br />Finance Director/City Clerk <br /> <br />I :\SHARED\CQUNCIL\Resolutions\FINANCE\2000\INVDEP. wpd <br />