Laserfiche WebLink
515 Little Canada Road, Little Canada, MN 55117 -1600 <br />(612) 484 -2177 / FAX: (612) 484 -4538 <br />September 23, 1994 <br />MAYOR <br />Raymond G. Hanson <br />COUNCIL <br />Beverly Scalze <br />Jim LaValle <br />Steve Morelan <br />Bob Pedersen <br />ADMINISTRATOR <br />Joel R. Hanson <br />TO: Mayor Hanson and Members of the City Council <br />FROM: Joel R. Hanson, City Administrator <br />RE: Approval of Meridian Capital Markets as City Depository <br />Staff is- recommending the addition of Meridian Capital Markets as <br />a secondary City depository. The broker representing Meridian is <br />based in Houston, Texas. I have been in discussions with him for <br />the past year and the investments that he has discussed with me, <br />as well as their approach to doing business, leads me to believe <br />they could provide us with a good option for the investment of <br />funds. <br />We were furnished four references from counties with whom they do <br />business in the State of Minnesota. The references indicate a <br />high level of satisfaction with Meridian with the qualifying <br />statement that the City has to determine which investments are in <br />its best interest. I feel this statement is applicable to any <br />broker we may deal with. <br />Therefore, we would recommend Meridian Capital Markets be <br />approved as an additional City investment depository. If you <br />have any questions, please let me know prior to Wednesday's <br />meeting. <br />Page 29 <br />