HomeMy Public PortalAbout2003-003 Resolution Designating Institutions for Investment of Idle FundsMember Workman introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.03-03
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 Rauscher Plaza
60 South Sixth Street
Minneapolis, MN 55402
U.S. Bancorp
100 South Fifth Street
Minneapolis, MN 55402
Wells Fargo Investment Services
Sixth & Marquette
Minneapolis, MN 55402
Dated: January 7, 2003
ATTEST:
64,,r 4-10,0,,,
Chad M. Adams, Administrator/Clerk-Treasurer
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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
02-01
Jan. 15, 2002
The motion for the adoption of the foregoing resolution was duly seconded by member
Lane and upon vote being taken thereon, the following voted in favor thereof:
Zietlow, Workman, Lane and Brinkman
and the following voted against same: None Absent: Smith
Whereupon said resolution was declared duly passed and adopted.
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02-01
Jan. 15, 2002