1989-345107
HRA RESOLUTION NO. 345
A RESOLUTION DESIC~TINC CERTAIN FILIAL IlSSTITUTIONS
AS DEPOSITORIES F10R THE INVESTME[~fP OF HOUSING AMID
REDEVEIDPME~VT AUTHORITY OF RICHFIELD FUI~ID6 IN 1989
WHEREAS, the Housing and Redevelopment Authority of Richfield has tn~ney
which is available for investment, aryl
WHEREAS, different financial institutions offer different rates of
return on investments, and
WHEREAS, the Housiryg 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 do the City pr+ovidiryg greater flexibility in the investment
program and maximize interest iryoocne thereon.
NOW, TES, BE IT RESOLVED by the Housing and Redevelopment
Authority of Richfield, eta, as follows:
1. It is hereby found and deterndr~ed that it is in the best interests
of the proper mana~nt of Housing and Redevelopnent Authority
funds that certain financial institutions be designated as add-
t~ional depositories for Housing and Redevelopment Authority furr]s
for 1989.
2. The following financial institutions designated as depositories
for Housing and Redevelopment Authority funds:
Marquette Minneapolis Bank
Merrill Lynch, Pieroe, Fenner & Smith, Inc.
Dain Bosworth, Ir~c.
Pnadential -Bache
Kidder, Peabody & Company
Norwest Investment Services
Piper, Jaffray & H~wood
State Street Bank & Trust, Trust for Short-Term U.S.
Gaver~'grnnt Securities
Kansas National Investment
3. The Treasurer is hereby authorized to deposit Housing and Redevelop-
ment Authority funds in any or all of the depositories herein de-
signated. Such deposits may be made and withdrawn from time to time
by the Treasurer as his/her best ~udgltmnt and the interests of the
Housing arxi Redev~el.opmPnt Authority dictates.
4. The investment of funds and the reporting tirreof pursuant to this
resolution shall be conducted in aooorYlanoe with established
policies reg,~rrl i m the investment of tt~se funds .
Passed by the xa~sing and Reclevelopnerit
day of January, 1989.
ATTEST:
HAlmherger, tart'
Authori f Richf3.eld this 17th
°f
~~ l
E. Harnts, Chairperson
~1
JI