2000 HRA Resolution 0750HRA RESOLUTION NO. 750
RESOLUTION DESIGNATING CERTAIN FINANCIAL
INSTITUTIONS AS DEPOSITORIES FOR THE INVESTMENT OF
HOUSING AND REDEVELOPMENT AUTHORITY OF RICHFIELD FUNDS IN 2000
WHEREAS, the Housing and Redevelopment Authority of Richfield has money
which is available for investment, and
WHEREAS, different financial institutions offer different rates of return on
investments, and
WHEREAS, the Housing and Redevelopment Authority of Richfield shall purchase
U. S. Treasury Bills, U. S. Treasury Notes and other such government securities in the
manner required by law from the institution offering the highest rate to the Housing and
Redevelopment Authority providing greater flexibility in the investment program and
maximize interest income thereon.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority of Richfield, Minnesota, as follows:
1. It is hereby found and determined that it is in the best interest of the proper
management of Housing and Redevelopment Authority funds that certain
financial institutions be designated as additional depositories for Housing and
Redevelopment Authority funds for 2000.
2. The following financial institutions designated as depositories for Housing and
Redevelopment Authority funds:
Richfield Bank and Trust Company
Dain Rauscher, Inc.
Norwest Investment Services
Morgan Stanley Dean Witter
Piper, Jaffray & Hopwood
Miller, Johnson & Kuehn, Inc.
Miller Schroeder Financial, Inc.
3. The Treasurer and Finance Manager are hereby authorized to deposit
Housing and Redevelopment Authority funds in any or all of the depositories
herein designated. Such deposits may be made and withdrawn from time to
time by the Treasurer or Finance Managers best judgement and the interests of
the Housing and Redevelopment Authority Dictates.
4. The investment of funds and the reporting thereof pursuant to this resolution
shall be conducted in accordance with established policies regarding the
investment of these funds.
Passed by the Housing and Redevelopment Authority of Richfield, Minnesota this
18th day of January, 2000.
ATTEST:
Thomas E. Harms, Chair
Michael Sandahl, Secretary