Res 1980 - 48 Authorizing Investments & Establishing Investment ProceduresCITY OF MENDOTA HEIGHTS
Dakota County, Minnesota
RESOLUTION NO. 80-48
RESOLUTION AUTHORIZING INVESTMENTS
AND ESTABLISHING INVESTMENT PROCEDURES
WHEREAS, on December 20, 1977, the City Council adopted Resolution No.
77-117, "RESOLUTION ESTABLISHING INVESTMENT FUND", and
WHEREAS, said Fund was established for the purpose of simplifying and
consolidating the investing of excess cash; and
WHEREAS, the availability of cash and favorable interest rates seldom
either coincide with regular City Council meeting dates or allow prior
Council approval.
NOW THEREFORE BE IT RESOLVED by the City Council of the City of Mendota
Heights that the City Treasurer be and is hereby authorized to make cash
investments on behalf of the City without prior Council approval of the
individual investments, such investments to be made with authorized depositories
or in other legally authorized investments; and
BE IT FURTHER RESOLVED that the Treasurer shall report investment activities
to the Council as part of his regular monthly financial.report.
Adopted by the City Council of the City of Mendota Heights this 3rd day
of June, 1980.
CITY COUNCIL
CITY OF MENDOTA HEIGHTS
By 4&i-114�
Robert G; Lockwood
Mayor
ATTEST:
X 41 772 -
Khthlppn M. Swanson
City Clerk