HomeMy WebLinkAbout1990-07 - Authorizing the Taking of Bids on $600,000.00BILL N0. C~~~ ~ ~ ORDINANCE N0. `~~ ~~
AN ORDINANCE AUTHORIZING 1'HE 'T'AKING OF BIDS FOR $ 600,000.00
AND AUTHORIZING THE CREA'C10N OF AN ADDITIONAL CI`1'Y DEPOSITOR
FOR 'PHE HIGHEST AND BEST BIDS.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF
RIVERSIDE, MISSOURI, AS FOLLOWS:
SECTION 1 AuthorizaL-ion is hereby given to accept bids
on January 31, 1990 and February 6, 1990 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: 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 in compliance with the Missouri Stale Statutes and
to provide for the City Clerk adequate evidence of the
pc,sting of said securities.
SECTION ti: The Mayor and City Clerk and Finance Committee
are authorized to take all necessary action t:o carry out the
intent of this ordinance.
PASSED THIS 16TH DAY OF <JANUARY, 1990.
1 i
MAYOR
ATTEST:
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i / ~. L.t. ~~ i ~~~ ~ Y
City Clerk
APPROUF.D THIS 16TH OF JANUARY, 1990.
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