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• CITY OF ST. ANTHONY <br /> RESOLUTION 91-005 <br /> A RESOLUTION DESIGNATING THE OFFICIAL <br /> DEPOSITORY FOR CITY FUNDS <br /> BE IT RESOLVED by the City Council of the City of St. Anthony, that the Firstar St. <br /> Anthony Bank is hereby designated as a depository for the funds of the City and that <br /> said bank shall also be the bank for this City with respect to any/all other banking <br /> services required or used by this City provided, however, that in the event the City <br /> has occasion to purchase U.S. Treasury Bills, U.S. Treasury Notes, C.D.'s, or other <br /> similar investments, the City shall solicit from the Firstar St. Anthony Bank, and from <br /> any other approved institutions, the rate of interest each institution is willing to pay; <br /> and the City shall purchase said U.S. Treasury Bills, U.S. Treasury Notes, C.D.'s, or <br /> similar investments from the institution offering the highest rate to the City. If any <br /> institution offers the same rate of interest as the interest rate offered by the Firstar <br /> St. Anthony Bank, the purchase shall be made from the Firstar St. Anthony Bank, <br /> provided that this is the highest rate offered. <br /> FURTHER RESOLVED that the City Finance Officer shall prepare a quarterly report for <br /> the City Manager and the City Council which report shall be in writing and included <br /> in the agenda for the following Council meeting; and which report shall contain a <br /> summary for the preceding period of all U.S. Treasury Bills, U.S. Treasury Notes, <br /> C.D.'s, and similar investments purchased by the City during such period. Said report <br /> shall contain a separate listing of all such purchases made out of the general fund, <br /> all such purchases made out of the liquor fund, and all such purchases made out of <br /> any other City fund. The report shall contain for each such purchase a schedule of <br /> the interest rates offered by the institutions solicited and the interest rate on current <br /> investments. <br /> FURTHER RESOLVED that this notice shall continue in force until December 31, 1991, <br /> or until written notice of its recision or modification has been received by said bank. <br /> FURTHER RESOLVED that said bank deposit such securities in the amount and in the <br /> manner required by law. <br /> FURTHER RESOLVED that the City Manager be authorized to accept such securities as <br /> collateral as required by law, and that said collateral be deposited at the Firstar St. <br /> Anthony Bank for safekeeping. <br /> i <br />