HomeMy WebLinkAbout1989-85 - Authorization to Take Bids on $500,000.00BILL No. ~-'1-~',' oRDINANCE No. f'~- ~~.~~
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $ 500,000.00
AND AUTHORI7ING THE CREATION OF AN ADDITIONAL CITY DEPOSITOR
FOR THE HIGf3EST AND BEST BIDS.
BE IT ORDAINED BY TE3E BOAND OF AI,llERMEN OF 1'HE CITY OF
RIVERSIDE, MISSOURI, AS FOLLOWS:
SEC'T'ION 1 Authorization ~s hereby given tc accept bids
on January ?_nd, 1990 on $ 500,000.00 for time deposits for
either 6 months or 1 year and authorizing investment of said
funds with the highest and best bidders.
SECTION 2: In the event that. the highest and best bidders
should not be a City Depositor, an additional City Depositor
is created,
SECTION 3: Depositor shall be required to post security
for said funds ~n compliance with the Missouri State Statutes
and to provide for the City Clerk adequate evidence of the
posting of said securities.
SECTION 4: The Mayor and City Clerk and Finance Committee
are authorized to take all necessary action to carry cut the
intent of this ordinance.
PASSED 'PHIS 19TH DAY OF DECEMBER, 1989.
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MAYOR
ATTEST: ~/
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City Clerk ~'
APPROVED THIS 19TH DAY OF DECEMBER, 1989.
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MAYOR