HomeMy WebLinkAbout1996-020 - Authorization to Take Bids on $500,000.00BILL NO. 96-20
ORDINANCE NO. 9 6 - .2 ~
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $500,000.00 AND
AUTHORIZING THE CREATION OF AN ADDITIONAL CITY DEPOSITORY 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 February 12, 1996, on
$500,000.00 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 20TH DAY OF FEBRUARY, 1996.
Mayor Bet. Burch
ATTEST:
/° C,r1
City Clerk _ j
APPROVED THIS ~~-~ DAY OF FEBRUARY, 1996.
.C~<~~-
Mayor B ty Burch