HomeMy WebLinkAbout7371 - ADMIN Resolution - City Council - 1983/04/18RESOLUTION NO. 7371
RESOLUTION DESIGNATING DEPOSITORY FOR
CITY FUNDS
BE IT RESOLVED by the City Council of the City of St. Louis Park
that Merrill, Lynch, Pierce, Fenner & Smith, Inc. of Minneapolis,
Minnesota, be hereby designated as a depository for the funds of
the City, and the maximum amount of such deposits to be kept there-
in at any one time is not to exceed $5 million.
BE IT FURTHER RESOLVED that Merrill, Lynch, Pierce, Fenner & Smith,
Inc. of Minneapolis deposit with the Morgan Guaranty Bank & Trust
of New York City, as security for such deposits, such securities
as may be required to safeguard the deposits of the City in the
manner and amounts required by law.
Attest:
Adopted by the City Council April 18, 1983.
1;‘.4a,
y Clerk
Reviewed for Administration:
Approved as to form and legality:
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ty Manager " City Attorney