HomeMy WebLinkAbout1996-004 - Authorization to Take Bids on $1,300,000.00BILL NO. 96- 3
ORDINANCE NO. 96- q
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $1,300,000.00 AND
AUTHORIZING THE CREATION OF AN ADDITIONAL CITY DEPOSITOR FOR THE
HIGHEST AND BEST BIDS.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE,
MISSOURI, AS FOLLOWS:
SECTION 1: Authorization is hereby given to accept
bids on January 5, 1996, for $1,000,000.00
for time deposits or for federal national
mortgage discount notes for six months and one
year and authorizing investment of said funds
with the highest and best bidders.
SECTION 2: Depositor shall be required to post security
for said funds in compliance with the Missouri
State Statutes and to provide the City Clerk
and Finance Committee are authorized to take
all necessary action to carry out the intent
of this ordinance.
PASSED THIS 16th DAY OF JANUARY, 1996.
,r
Mayor tty Burch
ATTEST:
~.
Louise Rusick, City Clerk Pro Tem
APPROVED THIS 18th DAY OF JANUARY, 1996.
Mayor ~etty Burch