01-15 HRA Resolution No. 1320
HRA RESOLUTION NO. 1320
RESOLUTION DESIGNATING CERTAIN FINANCIAL
INSTITUTIONS AS DEPOSITORIES FOR THE
INVESTMENT OF HOUSING AND REDEVELOPMENT
AUTHORITY OF RICHFIELD FUNDS IN 2019
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 of Richfield 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, in accordance with Minnesota Statutes, Sections
118A.01 – 118A.06, 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 of Richfield funds that
certain financial institutions be designated as additional depositories for
Housing and Redevelopment Authority of Richfield funds for 2019.
2. The following financial institutions designated as depositories for the Housing
and Redevelopment Authority of Richfield funds:
RBC Capital Markets. Raymond James & Assoc.
4M Fund Oppenheimer & Co.
Wells Fargo Institutional Retirement & Trust
Northland Securities, Inc.
3. The Finance Director is hereby authorized to deposit the Housing and
Redevelopment Authority of Richfield funds in any or all of the depositories
herein designated. Such deposits may be made and withdrawn from time to
time by the Finance Director’s judgment and as the interest of the Housing
and Redevelopment Authority of Richfield 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.
HRA Resolution No. 1320
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota
this 15th day of January, 2019.
`71./it-7 ,
Chair
ATTEST:
, Secreta
HRA Resolution No. 1320