1981-16441
HRA RESOLUTION NO. 164
RESOLUTION DESIGNATING FIRST FEDERAL SAVINGS
AND LOAN ASSOCIATION AS DEPOSITORY OF FUND5
OF THE HOUSING AND REDEVELOPMENT AUTHORITY OF
RICHFIELD FOR THE YEAR 198.1
WHEREAS, pursuant to. Minnesota Statutes, Sections 475.66 and
118.17, municipal funds may be deposited in any Savings and Loan
Association which has its deposits insured by the Federal Savings
and Loan Insurance Corporation, and
WHEREAS, the amount of said deposits may not exceed the
Federal Savings and Loan Insurance Corporation insurance covering
such deposits which insurance amount is presently $100,00, and
WHEREAS, the deposit of Housing and Redevelopment Authority
funds in Savings and Loan Associations would provide greater
flexibility in their investment program and maximize interest
income thereon.
NOW, THEREFORE, BE IT RESOLVED by the Housing and Redevelopment
Authority of Richf field, Minnesota as follows:
The following savings and loan association be designated as
depository-for municipal funds:
First Federal Savings and Loan Association
6445 Nicollet Avenue
Richfield, MN 55423
Passed by the Housing and Redevelopment Authority of the City
of Richfield, Minnesota, this 18th day o May, 1981.
'Thomas E. Harms Chairman
ATTEST:
i
Michael Freeman, Secretary
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