HomeMy WebLinkAbout90-62 - ADMIN Resolution - City Council - 1990/05/21RESOLUTION NO. 90-62
RESOLUTION DESIGNATING DEPOSITORY FOR
CITY FUNDS
BE IT RESOLVED by the City Council of the City of St. Louis Park that
Liberty Capital Markets, Inc. of Irvine, California be hereby designated as
a depository for the funds of the City, and that such deposits be limited to
U.S. Treasury Obligations or U.S. Government agency issues, 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 Liberty Capital Markets, Inc of Irinve,
California deposit with Prudential-Bache Securities 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:
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Adopted by the City Council May 21, 1990
Reviewed for Administration
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Approved as to form and execution
City Manager . City Attorney