1994-49565
I~iA RF50I~i'ION 1V0. 495
A RESORIJPIaN DESI(~TIIVG (~RTAIId FII~II~AL IlYSTITUrIDl~S
A3 F~Et ~ II~VES*II~l' ~' H~Il~G ArID
A[TII]OEtITY OF RIQ~'lII.D FI~ID6 II~i 1994
~S, the Housing and redevelapntent Atrthor'ity of Richfield has irnney
which is available for irnrestmP.nt, and
WE~tF~1S, different f{*~+~*+~iial institutions offer different rates of
return on itnrestments, and
i~~2F~S, the Housing and redevelopment Authority of Richfield shall
purrihase U. S. Treasury Bills, U. S. Treasury Notes and other such g~aRrernnent
sec~ities in the Ytar~ner required by law from the institution offering the
highest rate to the City providing greater flees{i{ty in the ir~nent
prpgr~ atYl ~~mi ~g interest income tt~,reori.
NOW, BE IT RE90LVED by the Housing and Redevelopn~t
Authority of Rici~field, Minnesota, as follows:
1. It is hereby found and determined that it is in the best interests
of the proper managen®nt of Housing and redevelopment Authority
funds that certain f{*u+*r{~i ins't~ittxtiorns be desic,~ated as add-
tional depositories foot Housing and redevelopment Authority funds
for 1994.
~I~_
2. The following financial institutions designated as depositories
for Housing and Redevelapnent Authority funds:
Richfield Hank & Trust Canpany
FBS Investment Service, Inc.
Dein Haswor`th, Inc.
PnidPntial - Sec~u'ities
Piper, Jaffray & Hopwood
Shec'1rsOC1 Leh[t~an Hroth~'s
Federated Investoars, Trust for
Smith Barney
Short-Term U.S. Go~rt. Secxu'ities
3. The Treasurer and Finaryce Mater are hereby authorized to deposit
Housing and Redevelolan~ent Authority funds in any or all of the
depositories herein designated. Such deposits may be made and
wig from time to time by the Treasurer or Finance Manager as
his/her best ~txigRient and the interests of the Housing and
redevelopment Authority dictates.
4. The investment of funds and the reporting thereof pursuant to this
resolution shall be conducted in aooordanma t-h established
policies re9a~~ng the irYVestznent of these
Passed by the Housing and redevplop[nent of Richfi thins 17th
day of Jar~uaxy, 1994. ~~~ C -
Thanas E. Harnis,
ATTES"P:
Vern Luettinger,