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4. The Finance Director and his /her appointed employees in case of unavailability are <br />authorized to manage the investment program. A system of internal controls shall be <br />followed and shall be designed to prevent losses from theft or misuse to provide <br />reasonable assurance that the objectives are met. <br />5. The Finance Director will prepare an investment report monthly for the City <br />Administrator. <br />6. All City Funds must be invested with financial institutions authorized to provide <br />investment services per statute 118A.06, with representatives who are licensed and <br />with institutions which have a minimum capital requirement of $5 million and at least <br />five years of operation. <br />GENERAL INFORMATION CONCERNING THE CITY <br />Lino Lakes is located in southeast Anoka County, approximately 20 miles north of St. Paul. The <br />City is part of the Minneapolis /St. Paul Metropolitan Area and covers an area of approximately <br />33 square miles (21,120 acres). Two major Twin Cities freeways, I -35E and I -35W, and <br />Minnesota Highway 49 traverse the community. The following table shows the City's recent <br />population increases: <br />2004 (Metropolitan Council Estimate) <br />2000 (U.S. Census) <br />1990 (U.S. Census) <br />1980 (U.S. Census) <br />1970 (U.S. Census) <br />Employment <br />Major employers in the City include the following: <br />Employer <br />State of Minnesota <br />Target Corporation <br />AdGraphics <br />Synovis Interventional Systems <br />Summit Fire Protection <br />Molin Concrete Products Co. <br />Anoka County Juvenile Center <br />Nol -Tec Systems, Inc. <br />Custom Manufacturing & Engineering <br />Population <br />18,725 <br />16,791 <br />8,920 <br />4,966 <br />3,692 <br />Product/Service <br />Increase <br />11.5% <br />88.2 <br />79.6 <br />34.5 <br />Medium security prison <br />Retail <br />Prom /party supplies <br />Surgical and medical instruments <br />Installing building equipment <br />Concrete products <br />Juvenile and adult detention center <br />Pneumatic conveyors <br />Precision plastics <br />Approximate <br />Number <br />of Employees <br />NOTE: Rehbein Transit Inc. was sold and its assets liquidated. Three employees remain. <br />Source: Telephone survey of individual employers, June 2006. <br />450 <br />230 <br />200 <br />180 <br />175 <br />163 <br />150 <br />65 <br />50 <br />