HomeMy WebLinkAbout89-7 - ADMIN Resolution - Economic Development Authority - 1989/05/01IV-J0R0 )L rolEC
May 1, 1989
RESOLUTION NO. EDA -7
RESOLUTION DESIGNATING DEPOSITORY FOR
ECONOMIC DEVELOPMENT AUTHORITY FUNDS
BE IT RESOLVED by the Economic Development Authority of the City of St. Louis
Park that Paine Webber, Inc. of Minneapolis, Minnesota be hereby designated as
a depository for the funds of the Economic Development Authority 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 Paine Webber, Inc. of Minneapolis, Minnesota
deposit with the Bankers Trust of New York City, as security for such
deposits, wuch securities as may be required to safeguard the deposits of the
City in the manner and amounts required by law.
Adopted by the Economic Development Authority, May 1, 1989
President
MMI d,
Executive Director