HomeMy WebLinkAbout89-33 - ADMIN Resolution - City Council - 1989/03/20March 20, 1989
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RESOLUTION NO. 89-33
RESOLUTION DESIGNATING DEPOSITORY FOR
CITY FUNDS
BE IT RESOLVED by the City Council of the City of St. Louis Park
that Painewebber, Inc. of Minneapolis, Minnesota, be hereby des-
ignated as a depository for the funds of the City, and the maximum
amount of such deposits to be kept therein at any one time is not
to exceed $5 million.
BE IT FURTHER RESOLVED that Painewebber, Inc. of Minneapolis deposit
with the Bankers Trust of New York City, as security for such depo-
sits, such securities as may be required to safeguard the deposits
of the City in the manner and amounts required by law.
Adopted by the City Council March 20, 1989
Attest:
Reviewed for Administration:
am' G. /0/��t
City Manager
1
Approved as to form and execution: