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Member Johnson introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO. 99- 01
RESOLUTION DESIGNATING INSTITUTIONS
FOR INVESTMENT OF THE CITY'S IDLE FUNDS
WHEREAS, the following institutions meet all of the requirements set forth in Minnesota
State Statutes, and;
WHEREAS, diversifying the institutions where the City invests ensures the City will receive
the best return on its investments,
NOW, THEREFORE, BE IT RESOLVED by the City Council of Medina that the following
institutions be designated for investing Medina's idle funds:
Dain Rauscher, Inc.
Dain Bosworth Plaza
60 South Sixth Street
Minneapolis, MN 55402
U.S. Bank
100 South Fifth Street
Minneapolis, MN 55402
Norwest Investment Services
Norwest Center
Sixth & Marquette
Minneapolis, MN 55402
Dated: January 5, 1998
ATT
Paul Robinson, City Clerk -Treasurer
Solomon Smith Barney
345 St. Peter
1800 Landmark Towers
St. Paul, MN 55102
Prudential Securities Inc.
90 South 7th Street
Suite 3500
One Seaport Plaza
Minneapolis, MN 55402
MBIA Municipal Investors Service Corp.
113 King Street
Armonk, NY 10504
n B. Ferris, Mayor
99-01
01-05-98
2
The motion for the adoption of the foregoing resolution was duly seconded by member
Smith and upon vote being taken thereon, the following voted in favor thereof:
Ferris, Hamilton, Johnson, Smith, and Zietlow
and the following voted against same: fours
Whereupon said resolution was declared duly passed and adopted.
99-01
01-05-98