1992-439HI2A RE50I~lI'ION NO. 439
A RE90LVi'I~i DFSI(~1TIlVG C~AIId FINANCIAL Il!15TITUi'I~5
AS DEL~OST~'~ F~ TES I~ OF I~TSIr1G Ai~ID
RIDEVIIAPI~NP AVIfD~tITY OF RICf~T~ Ft~iD:S IrT 1992
the H~xasiryg arxi Redevelopment Authority of Richfield has mr.~~ey
which is available far investment, and
~F~.S, different fir~~urial institutions offer different rates of
return an investments, and
X13, the Housing and Redevelopment Authrnity of Richfield shall
puxrh<ase U. S. Treasury Hills, U. S. Treasury Notes ar:d other such gaverr~ment
securities in the maYn~er' required by law from the institutioan offering the
highest rate to the City providiryg greater flexibility in the im~estment
progr~n and maximize interest income •tt~,reori.
NI~W, ZEE, SE IT RE90LVID by the F~ausing and Redevelopment
Authority of Richfield, eta, as follows:
1. It is hernby found ar~d detexmined that it is in the best interests
of the propex management of Housing and Redevelop~rnnt Authority
funds that certain finarri~ institutions be designated as add-
tiona]. depositories for Housing and Redevelopment Authority funds
for 1992.
2: The following financial institutions designated as depositories
for Hoaasing and Redevelc~nent Authority funds:
Richfield Hank & Trust CanparYy
Marquette Miroeapolis Hank
wra,-rt 11 LyricYi, Pierre, Fenner &
Dain Bosworth, Ir~c.
Pn~dential -Bache
Kidder, Peabody & Carrq~any
Norwest InvPStinent Services
Piper, Jaffray & Fioptaood
Shearson I,etman Hr+othprs .
State Street Hank & Trust, Trust
Goverrn~nt Securities
Smith, Inc.
for Short-Term U.S.
3. The Treasurer is hereby authorized to deposit Housiryg 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 Such deposits may be made and withdrawn from time to time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 Treasurnr as his/her best ~udgm~nt and the interests of the
Housing and Redevelopment Authority dictates.
4. The investment of funds ar~d the re~ortiryg tt~,x~eof pursuant to this
resolution shall be conducted in acbord~unoe with established
policies regarding the investrnnt of these funds.