1991-409171
F~tA RESOLU~.'ION N0. 409
A RE5OLU3'ION DFSIC~iTIlJG C~AII~T FIl~IAL Il~TSTITUrIONS
AS DF~'O~SITORIFS FOR TIC ~ OF I~IJSING AND
RIDEVF3APN~IV'P AUNTY OF RIQ~ZEGD FtII~IDS Ili 1991
the Housing aryl Redevelopment Authority of Richfield has money
which is available for investment, and
kII~RFAS, different financial institutions offer differnnt rates of
return on investments, and
4d~tEA.S, the Housing and Redevelopment Authority of Richfield shall
purchase U. S. Treasury Bills, U. S. Treasury Notes and other such goveriunent
seca~rities in the mannex required by law from the institution offering the..
highest rate to the City providing greater flexibility in the investment
program arxi maximize interest iryoone ~tl~erean.
NOW, THIItEE~ORE, BE IT RE.5OLVID by the Housing arxi Redevelopn~.nt
Authority of Richfield, Minnesota, as follows:
1. It is hereby found and deteYmii'ed that it is in the.best interests
of the proper management of Housing and Redevelopment Authority
funds that certain financial institutions be designated as add-
tional depositories for Housing arxi Redevelopment Authority funds
for 1991.
2. The fcillowing financial institutions designated as depositories
for housing and Redevelopment Authority funds:
Richfield Bank & Trust Company
Marquette MinnP.apolis Bank
Merrill Lynch, Pierce, Fenner' &
Dain Bosworth, Inc.
Prudential - Ba,rhe
Kidder, Pe,~-jbody & Canpany
Norwest Investment Services
Piper, Jaffray & Hopwood
State Street Bank & Trust, Trust
Gov~exrunent Securities
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Sm3.th, Inc.
for Short-Term U.S.
3. The Treastar~ex 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 Such deposits may be made and withdrawn fmn time to time
by the Treas'urex as his/her best judgment and the interests of the
Hausing and Redevelopment Authority dictates.
4. The investment of funds and the reporting thereof pursuant to this
resolution shall be conducted in accordance with established
policies *~~i ~ the investment of these funds.
HRA Resolution No. 409
Page 2
Passed by the Housing and Redeveloprnnt Authori of Richfield this 22nd
day of Januazy, 1991.
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Thanas E. HaYms, Chairp~xsc~n
ATTEST:
Joan Helmberger, Secs ,
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