1990-374136
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HRA RESOLUTION NO. 374
A RESOLUTION DESIGiNF-TING CE~'PAIN FINANCIAL INSTITUTIONS
AS DE~"OSITUfftIES FC~t TI-lE INVFSTMElNT OF ROUSTING AND
RIDEVELOPNIE~1'P ALfl~ITY OF RIC'~1F'IELD FUND6 IN 1990
WF>giEAS, the Housing and Redevelopment Authority of Richfield has money
which is available far investment, and
WHEREAS, different finarria~ institutions offer different rates of
return oci investments, and
WHEREAS, the Housing and Redevelopment Authority of Richfield shall
p~u~hase U. S. Treasury Hills, U. S. Treasury Notes and other such government
securities in the manner required .by law from the institutioa~ offering the
highest rate to the City p~riwiding greater flexibility in the investment
pin aryd ~~ri mi ~p interest inoo[ne tt]ereori.
NOW, Tom, BE; IT RESOLVED by the Housing and Redevelopment
Authority of Richfield, Minnesota, as follows:
1. It i.s hereby found aryl determined that it is in the best interests
of the proper management of Housirx3 arxi Redevelopment Authority
funds that certain financial institutions be designated as add-
tional depositories for Housing and Redevelopment Authority funds
foac 1990.
2. The following financial institutions designated as depositories
for Housing arxi Redevelo~xnent Authority funds
Marquette Minneapolis Bank
Merrill Lynch, Pierce, Fervner & Smith, Inc.
Dain Ho~sworth, Inc.
Prudential -Bache
Kidder, Peabody & Catgk~uiy
Norwest IrYVestment Services
Piper, Jaffrey & Fiop~aood
State Street Hank & Trust, Trust for Short-Term U.S.
Government 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 Such deposits may be made aril withdrawn from time to time
by the Treaslarer as his/her best ~wdgment aryl the interests of the
Rousing and Redevelopment Authority dictates.
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4. The investment of funds and the reporting thereof pursuant to this
resolution shall be ooa~ducted in aocorr]ance with established
policies ?~arcii ng the investment of these funds .