Laserfiche WebLink
R-75-9 <br />RESOLUTION <br />CITY OF LAKE ELMO <br />WASHINGTON COUNTY, MINNESOTA <br />A RESOLUTION AUTHORIZING CLERK TO OPEN AND MAINTAIN <br />ACCOUNT WITH STOCK BROKER <br />WHEREAS, the City Clerk -Treasurer acting in accordance with the orders of <br />this Council periodically finds it necessary and desirable to invest certain <br />City funds for the purpose of maximizing earnings thereon; and <br />WHEREAS, it is necessary convenient for such investment purposes to main- <br />tain an account with a licensed broker for such purposes: <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the City Lake Elmo <br />that the City Clerk -Treasurer is hereby authorized and directed to open and <br />maintain an account with Merrill, Lynch, Pierce, Fenner, and Smith <br />for investment purposes; provided, however, any written agreement relating to <br />such accounts shall be approved by the City Attorney prior to its execution <br />for and on behalf of the City, <br />BE IT FURTHER RESOLVED, that notwithstanding the maintenance of such an <br />account any investments made by the City Clerk -Treasurer shall be made in <br />accordance with law and pursuant to the order of this Council. <br />Adopted by the City Council this 4th day of March, 1975. <br />Mayn6id L. Eder, Mayor <br />Attest: <br />Donald MehsikQmer, Clerk <br />