031626 Reso 1527_Investment DepositoryRESOLUTION NO. 1527
RESOLUTION DESIGNATING CERTAIN FINANCIAL INSTITUTIONS AS
DEPOSITORIES FOR THE INVESTMENT OF HOUSING AND REDEVELOPMENT
AUTHORITY OF RICHFIELD FUNDS IN 2026
WHEREAS, the Housing and Redevelopment Authority of Richfield has money which
is available for investment; and
WHEREAS, different financial institutions offer different rates of return on investments;
and
WHEREAS, the Housing 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 to the Housing and
Redevelopment Authority of Richfield providing greater flexibility in the investment program
and maximize interest income thereon.
NOW, THEREFORE, BE IT RESOLVED, by the Housing and Redevelopment
Authority Richfield, Minnesota, in accordance with Minnesota Statutes, Sections 118A.01 —
118A.06, as follows-
1. It is hereby found and determined that it is in the best interest of the proper
management of Housing and Redevelopment Authority funds that certain financial
institutions be designated as additional depositories for Housing and
Redevelopment Authority of Richfield funds for 2026.
2. The following financial institutions designated as depositories for the Housing and
Redevelopment Authority of Richfield funds:
RBC Capital Markets Raymond James & Assoc.
Principal Custody Solutions 4M Fund
Northland Securities, Inc. Oppenheimer & Co.
Moreton Capital Markets Pershing Wealth Solutions BNY Mellon
3. The Finance Director is hereby authorized to deposit the Housing and
Redevelopment Authority of Richfield funds in any or all of the depositories herein
designated. Such deposits may be made and withdrawn from time to time by the
Finance Director's judgment and as the interest of the Housing and
Redevelopment Authority of Richfield dictates.
4. The investment of funds and the reporting thereof pursuant to this resolution shall
be conducted in accordance with established policies regarding the investment of
these funds.
Adopted by the Housing and Redevelopment Authority of Richfield, sota this
16th day of March, 2026.
Chair
ATTEST: