HomeMy Public PortalAbout2006-001 Resolution Designating Institutions for Investment of Idle FundsMember Smith introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2006-01
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 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
Multi -Bank Securities, Inc.
24280 Woodward
Pleasant Ridge, MI 48069
Dated: January 3, 2006
ATTEST:
Chad M. Adams, City Administrator -Clerk
Resolution No 2006-01
January 3, 2006
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Solomon Smith Barney/Citigroup
345 St. Peter
1800 Landmark Towers
St. Paul, MN 55102
Wachovia Securities, LLC
90 South 7th Street
Suite 3500
One Seaport Plaza
Minneapolis, MN 55402
MBIA Municipal Investors Service Corp.
113 King Street
Armonk, NY 10504
Bru/2----
D. Workman, Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member
Weir and upon vote being taken thereon, the following voted in favor thereof:
Brinkman, Weir, Workman, Cavanaugh, Smith
and the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No 2006-01
January 3, 2006
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