HomeMy WebLinkAbout1989-46 - Authorization to Take Bids on $500,000.00BILL N0. 89-46
ORDINANCE N0. 89-46
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $ 500,000.00
AND AUTHORIZING 'T'HF CRF,ATION OF ADDITIONAL CITY DEPOSITOR
FOR THE HIGHF,ST AND BEST BIDS.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE C1TY OF
RIVERSIDE, MISSOURI, AS FOLLOWS:
SECTION 1 Authorization is hereby given t.o accept
bids on July 3, 1y89 on $ 500,000.00 for time deposits or
treasury bills for either 6 months or 1 year and authorizing
investment of said funds with the highest and best bidders.
SECTION 2: Tn the even.*, that the highest and best bidders
should not be a City Depositor, and additional City Depositor
is created.
SECTION 3: Depositor shall he required to post, security
for said funds in compliance with the Missouri. Stale Statutes
and to provide for the City Clerk adequate evidence of the
posting of said securiY.ies.
SEC'T'ION 4: Tie Mayor and City Clcrk and Finance Committee
are authorized to take all necessary action to carry out the
intent. of This ordinance.
PASSED THIS 27th DAY OF JUNE, 1yRy.
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MAYOR
ATTEST:
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City Clerk
APPROVED THIS 27TH DAY OF JUNE, ly8y.
MAYOR 1