01-19 HRA Resolution No. 1383
RESOLUTION NO. 1383
RESOLUTION DESIGNATING CERTAIN FINANCIAL
INSTITUTIONSAS DEPOSITORIES FORTHEINVESTMENT OF
HOUSINGAND REDEVELOPMENTAUTHORITY OF RICHFIELD FUNDS IN2021
WHEREAS,the Housing and RedevelopmentAuthority ofRichfield hasmoney
whichis availablefor investment; and
WHEREAS,differentfinancial institutions offer differentrates ofreturn on
investments;and
WHEREAS,the Housing and RedevelopmentAuthority ofRichfield 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 Housing and
RedevelopmentAuthority ofRichfield providing greaterflexibility inthe 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 2021.
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 Such deposits may be made and withdrawn from time to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
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.
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota this 19th
day of January, 2021.
Mary B. Supple, Chair
ATTEST:
Maria Regan Gonzalez, Secretary