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Item No. 8.B. <br />Meeting Date: December 13, 2010 <br />Type of Business: Council Consent <br />Administrator Review: _____ City of Mounds View Staff Report <br /> <br /> <br /> <br /> <br /> <br />To: Honorable Mayor and City Council <br />From: Mark Beer, Finance Director <br />Item Title/Subject: Resolution 7705 Reauthorizing Membership in the 4M Fund <br /> <br /> <br />Attached is resolution 7705 which reauthorizes the City’s membership in the 4M fund. The <br />4M fund was created by the League of Minnesota Cities to provide a safe, liquid <br />investment option for cities. The 4M fund is the vehicle that allows the City to earn interest <br />on our primary checking account. <br /> <br />The reauthorization will allow the City to utilize new fixed income tools that are now <br />provided. The City Council previously authorized membership in the 4M fund in resolution <br />5170 (attached). Staff is recommending approval of the attached resolution. <br /> <br /> <br />Respectfully Submitted, <br /> <br /> <br /> <br />Mark Beer