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RESOLUTION 1975-25 <br />A RESOLUTION AUTHORIZING THE INVESTMENT OF CITY <br />MOiTIES FOR THE CITY OF HUGO, MINNESOTA <br />The City Council of the City of Hugo determines that: <br />WHEREAS, Monies become available to the City of Hugo <br />from time -to -time between City Council Meetings; and <br />WHEREAS, The City of Hugo loses earned interest income <br />when said monies are not invested and are held until the next City <br />Council Meeting following receipt thereof; <br />NOW, THEREFORE, BE IT RESOLVED that the City Clerk and <br />the City Treasurer be, and hereby are authorized to invest monies <br />of the City of Hugo received by them, or either of them, in a <br />properly designated depository, in accordance with all applicable <br />directives of the City Council and pursuant to applicable statutes <br />of the State of Minnesota, provided, however, that no deposit or <br />deposit limitations; and the City Clerk and the City Treasurer <br />are directed to maintain proper accounts of all such monies so <br />invested and to report all such investments to the City Council <br />at its next regular meeting, unless a special meeting be duly <br />called to consider any such investments prior to the next regular <br />meeting, in which case a report of all such investments shall be <br />made to the City Council at said special meetiPg. <br />Adopted and passed this <br />ATTEST: <br />'CLERK <br />