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<br />:. <br /> <br />RESOLUTION NO. 97-10 <br /> <br />., <br /> <br />CITY OF NEW BRIGHTON <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br /> <br />A RESOLUTION DESIGNATING INSTITUTIONS AS DEPOSITORIES OF CITY FUNDS <br />FOR INVESTMENT PURPOSES AND NAMING THE PRIMARY DEPOSITORY FOR 1997. <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 First Bank Apache and other institutions for <br />investment purposes; <br /> <br />NOW, THEREFORE, BE IT RESOLVED that: <br /> <br />1. First Bank Apache shall be designated as the City's primary depository for 1997. <br /> <br />2. The institutions with which the City may make investments shall be as follows: <br /> <br />Dain Bosworth Inc. <br />First Bank Apache <br />FBS Investment Services, Inc. <br />Insight Investment Management, Inc. <br />Juran and Moody, a division of Miller, Johnson & Kuehn, Incorporated <br />Piper Capital Management <br />Piper Jaffray, Inc. <br />Prudential Securities, Incorporated <br />Smith Barney, Inc. <br />Voyageur Asset Management <br /> <br />3. Approval of the above institutions shall be contingent upon their continuing to meet the <br />guidelines ofthe 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 28th day of January, 1997. <br /> <br />R~ <br /> <br />tk~~~ <br /> <br />Ma hew S. Fulton, City Manager <br /> <br />ATTEST: <br /> <br />Margaret A. Egan <br />Finance Director/City Clerk <br /> <br /> <br />I: \shared\counci\\reso I utions\finance \inv dep <br />