HomeMy WebLinkAbout89-8 - ADMIN Resolution - Economic Development Authority - 1989/05/01'V' I G R Q F1 LMcE)
May 1, 1989
RESOLUTION NO. EDA -8
RESOLUTION DESIGNATING DEPOSITORY FOR
ECONOMIC DEVELOPMENT AUTHORITY FUNDS
BE IT RESOLVED by the Economic Development Authority of the City of St. Louis
Park that Federated Securities Trust for Short Term U.S. Government Securities
of Boston, Massachusetts, be hereby designated as a depository for the funds
of 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 Federated Securities Trust for Short Term U.S.
Government Securities of Boston, Massachusetts deposits be restricted to
investments in a U.S. Government securities mutual fund and be restricted to
those 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
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Executive Director