RES 1959-004 - 00012932RESOLUTION NO. 4 - 1959
RESOLUTION AUTHORIZING INVESTMENT OF
SURPLUS MONIES OF CITY OF FRIDLEY
BE IT RESOLVED, by the City Council of
City of Fridley as follows:
1. It is hereby determined and declared
to be the policy of the City of Fridley
that all surplus monies shall be invested
in lawful securities in such manner as
may realize the maximum interest return
to the City from said securities. Such
monies to be available for expenditures
as may be required from time to time or
as are readily negotiable or convertible
to cash to provide the monies needed.
2. The Mayor, the City Manager and the
Treasurer, Marvin Brunsell, hereby con -
stitute a committee which is empowered
to establish and adminster such policy
of investment of such funds without further
authority from the Council. The committee
is empowered to designate the Treasurer
as its agent to cause securities to be
purchased and sold. However, designation
of such an agent shall not relieve the
Mayor and the City Manager and Treasurer
from the responsibility for determining
and administering the policy of investment.
PASSED BY THE CITY COUNCIL THIS 12TH DAY
OF JANUARY, 1959.
)FOR - Frank Cl. aGr g Jr .
`Yv% aruA� C Bz
CITY CLERK - Marvin Brunsell
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