HomeMy WebLinkAbout1990-16 - Authorization to Take Bids for $900,000.00BILL N0. /~-%,.;
ORDINANCE N0. i~l~-/~,
AN ORDINANCE AUTHORTZING THE TAKING OE BIDS FOR $ 900,000.00
AND AUTHORIZING THE CREATION OF AN ADDITIONAL CITY DEPOSITOR
FOR THE HIGHEST AND BEST BIDS.
BE 1T ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIUF,RSIDE,
MISSOURI, AS FOLLOWS:
SECTION 1 Authcr~zat-~cn is hereby given is accept bids cn
April 12, 1890 cn $ 900,000.00 fcr time depcs~ts fcr eti.her
six (6) mcnihs cr one (1) year and auThcriz~ng investment cf
said funds wiih The highesi and besi bidders.
SECTION 2: In the event. t,hai- the highest. and best bidders
should not be a City Depositor, an addiiicnal Ciiy Depcs~icr
is creaied.
SECTION 3: Depcsiter shall be required tc post security fcr
said funds in ccmpLtance with t-he Missouri St-at-e STatut-es and
tc provide fcr the Cii.y Clerk adequaTed evidence cf the pcsi~ng
cf said securities.
SECTION 4: The Mayor and City Clerk and Finance Ccmm~ttee are
aui-hcrized t-c; fake all necessary action tc carry cut the ini.enL
cf this ordinance.
PASSED THIS 3RD DAY OE APRIL, 1990.
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MAYOR
A'C'I'ES'I':
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Ciiy Clerk
APPROVED THIS 3RD DAY OF APRIL, 1990.
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MAYOR