01-19 EDA Resolution No. 29
RESOLUTION NO. 29
RESOLUTION DESIGNATING CERTAIN FINANCIAL
INSTITUTIONSAS DEPOSITORIES FORTHEINVESTMENT OF
ECONOMIC DEVELOPMENTAUTHORITY OFRICHFIELD FUNDS IN2021
WHEREAS,the Economic Development Authority of Richfield has money whichis
availablefor investment; and
WHEREAS,differentfinancial institutions offer differentrates ofreturn on
investments;and
WHEREAS,the Economic Development Authority of Richfield shall purchase U.S.
Treasury Bills, U. S.Treasury Notes and other such governmentsecurities in the
manner required by lawfromthe institution offering the highestrate to the Economic
DevelopmentAuthority of Richfield providing greaterflexibility inthe investment
program and maximize interest income thereon.
NOW,THEREFORE, BEIT RESOLVED,by the Economic DevelopmentAuthority
of Richfield, Minnesota, in accordance withMinnesota Statutes,Sections 118A.01
118A.06,asfollows:
1.It is hereby found and determined that it is in the best interest of the proper
management of Economic Development Authority of Richfield funds that
certain financial institutions be designated as additional depositories for
Economic Development Authority of Richfield funds for 2021.
2.The following financial institutions designated as depositories for the Economic
Development 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 Economic
Development 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 Such deposits may be made and withdrawn from time to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 theFinance DirectorEconomic
Development 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.
Adopted by the Economic Development Authority of Richfield, Minnesota this 19th day
of January, 2021.
Mary B. Supple, President
ATTEST:
John Stark, Executive Director