HomeMy WebLinkAbout1975.04.07 RESO 1975-25RESOLUTION 1975-25
A RESOLUTION AUTHORIZING THE INVESTMENT OF CITY
MOiTIES FOR THE CITY OF HUGO, MINNESOTA
The City Council of the City of Hugo determines that:
WHEREAS, Monies become available to the City of Hugo
from time -to -time between City Council Meetings; and
WHEREAS, The City of Hugo loses earned interest income
when said monies are not invested and are held until the next City
Council Meeting following receipt thereof;
NOW, THEREFORE, BE IT RESOLVED that the City Clerk and
the City Treasurer be, and hereby are authorized to invest monies
of the City of Hugo received by them, or either of them, in a
properly designated depository, in accordance with all applicable
directives of the City Council and pursuant to applicable statutes
of the State of Minnesota, provided, however, that no deposit or
deposit limitations; and the City Clerk and the City Treasurer
are directed to maintain proper accounts of all such monies so
invested and to report all such investments to the City Council
at its next regular meeting, unless a special meeting be duly
called to consider any such investments prior to the next regular
meeting, in which case a report of all such investments shall be
made to the City Council at said special meetiPg.
Adopted and passed this
ATTEST:
'CLERK