HomeMy WebLinkAbout1996-024 - Authorization to Take Bids on $1,700,000.00BILL NO. 96-24
ORDINANCE NO. 96-24
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $1,700,000.00 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 $1,700,000.00 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 5TH DAY OF MARCH, 1996.
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Mayor Bet Burch
ATTEST:
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Grace Kemerling, Cif" Jerk
APPROVED THIS DAY OF MARCH, 1996.
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Mayor etty Burch