HomeMy WebLinkAboutRES 84-041 RESOLUTION DESIGNATING A DEPOSITORY FOR CITY FUNDS Meeting Sheet
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102466
Box: 23
Folder: RES 1984
Document: RES 84-041 RESOLUTION DESIGNATING A DEPOSITORY
FOR CIN FUNDS
• RESOLUTION 84-041
A RESOLUTION DESIGNATING A DEPOSITORY FOR CITY FUNDS
BE IT RESOLVED by the City Council of the City of St. Anthony, that Offerman and
Co. , 5100 Gamble Drive, St. Louis Park, Minnesota, is hereby designated as a
depository—,,/for—the funds of the City, provided, however, that in the event the
City has occasion to purchase U.S. Treasury Bills, U.S. Treasury Notes, C.D. 's,
or other similar investments, the City shall solicit from the St. Anthony National
Bank, and from any other interested banking institutions, the rate of interest
each institution- is willing to pay; and the City shall purchase said U.S.
Treasury Bills, U.S. Treasury Notes, C.D. 's, .or similar investments from the
institution offering the highest rate to the City.. If any institution offers
the same rate of interest as the interest rate offered by the St. Anthony National
Bank, the purchase shall be made from the St. Anthony National Bank, provided
that this is the highest rate offered.
FURTHER RESOLVED withdrawals from the account or accounts shall be made only
upon written order of the Finance Director., countersigned by the City Manager and
Mayor.
FURTHER RESOLVED that this notice shall continue in force until December 31 ,
1984, or until written notice of its recision or modification . has been received
by Offerman and Co.
• FURTHER RESOLVED that Offerman and Co— shall deposit such securities in the
amount and in. the manner required by law.
Adopted this 11'� day .of S� �M�pe,r- 1984.
M yo r
ATTEST:
City Clerk
Reviewed for administration:
City Manager
ti.
Offerman 16121 4343510 (612)4830ME
OFFICEMOME
•
Comparr
THOMAS E. BRENNAN
Inc. REGISTERED REPRESENTATIVE
TO: CITY OF ST. ANTHONY
OFFEHMAN AND COI4PANY INC. hereby requests your approval for qualification
as a public depository according to State Statutes.
OFFEMUN AND COMPANY has correspondent relationships with over 300 Invest-
ment Dealers throughout the country. We maintain maty product sources to
to choose from in order to offer -the most competitive rates available for
certificates of deposits and Government Guaranteed securities. We will
offer only investment vehicles which meet your State's Guidelines for the
•
investment of public funds.
OFFEEMAN AND COMPANY has been registered as a Broker/Dealer with the SEC
NASD and with all 48 states. Our banking source is the First National
bank of Minneapolis, however any fluids invested will usually be held by
the designated Custodian Bank of each particular investment product. In
the case of certificates of deposits you would receive either a safe
keeping certificate or the actual certificate.
Respectfully submitted,
Thomas E Brennan, Registered Representative
Offerman and Company, Incorporated
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INVESTMENT SECURITIES • TAX SHELTERED INVESTMENTS