HomeMy WebLinkAbout1989-01 - Authorization to Take Bids on $400,000.00BI[,[, N0. 89-1 ORDINANCE, N0. 89- /
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $~~00,000.00
AND AUTHORIZING THE CREATION OF' ADDITIONAL CITY DEPOSITOR
FOR THE HIGHEST AND REST RIDS.
BF, I'C ORDAINED RY THE BOARll OF I1LllERMEN OF THE CITY OF
RIUGRSIDE, MISSOURI, AS F'Oi,~,OWS:
SECTION 1 Authorization is hereby given to accept
bids on January 3, 1989 on $ 400,000.00 for time deposits
or treasury bills for either 6 months or 1 year and authorizing
investment of said funds with the highest and bes`. bidders.
SEC'CION ?_. In the event that the highest and best
bidders should no Y, be a City Depositor, an additional City
Depositor is created.
SECTION 3. Depositor shall be required ro post securi?,y
for said funds in compliabce wiY,h the Missouri State S'!'atut,os
and Y,o provide for the City Clerk adequate cvi_dence of the
posting of said securities.
SECTION 4. 'i'he Mayor and City Clerk and Finance
Committee are authorised to take all necessary action to
carry out the intent; of this Ordinance.
Passed this 3rd DaV of January, 1989.
MAYOR
A'i"CES'f
City Clerk
APPROVED THIS 3rd DAY OF JANUARY 3, 1989,
MAYOR