01-18-2022 HRA Resolution No. 1420HRA RESOLUTION NO. 1420
RESOLUTION DESIGNATING CERTAIN FINANCIAL
INSTITUTIONS AS DEPOSITORIES FOR THE INVESTMENT OF
HOUSING AND REDEVELOPMENT AUTHORITY OF RICHFIELD FUNDS IN 2022
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 2022.
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 Such deposits may be made and withdrawn from time to time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.
Adopted by the Housing and Redevelopment Authority of Richfield, Minnesota this 18th day
of January, 2022.
Mary B. Supple, Chair
ATTEST:
Maria Regan Gonzalez, Secretary