HomeMy Public PortalAbout2007-003 Resolution Designating Institutions for Investment of Idle FundsMember Johnson introduced the following resolution and moved its adoption:
CITY OF MEDINA
RESOLUTION NO.2007-03
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:
Wachovia Securities, LLC Citigroup
80 South 8th Street 345 St. Peter
Suite 3400 1800 Landmark Towers
Minneapolis, MN 55402 St. Paul, MN 55102
MBIA Voyageur Asset Management
100 South Fifth Street
Suite 2300
Minneapolis, MN 55402
Multi -Bank Securities, Inc.
55 Water Street
New York, NY 10041
Dated: January 2, 2007
ATTEST:
Chad M. Adams, City Administrator -Clerk
RBC Dain Rauscher, Inc.
60 South Sixth Street
Minneapolis, MN 55402
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T.M. Crosby, Jr., Mayor
The motion for the adoption of the foregoing resolution was duly seconded by member
Cavanaugh and upon vote being taken thereon, the following voted in favor thereof:
Johnson, Cavanaugh, Smith, Weir, Crosby
Resolution No. 2007-03
January 2, 2007
and the following voted against same:
None
Whereupon said resolution was declared duly passed and adopted.
Resolution No. 2007-03
January 2, 2007
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