HomeMy WebLinkAbout1990-34 - Authorization to Take Bids on $500,000.00BILL N0. "'-'i~~ ORDINANCE N0. ~:'(
AN ORDINANCE AUTHORIZING THE `CAKING OF B.[DS FOR $ 500,000.00
AND AUTHORIZING THE CREATION OF AN ADDITIONAL C[TY DEPOSITOR
FOR THE HIGHEST AND BEST BIDS.
BE I'P ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF
RIVERSIDE, MISSOURI, AS FOLLOWS:
SECTION 1 Aut.horizal-.ion is hereby given to accept: bids on
July 2nd and July 3rd, 1990 on ~ 100,000.00 and $ 400,000.00
for Lime deposits for either six (6) months or one (1) year
and authorizing invesi;ment of said funds with the highest
and besr. bidders.
SECTION 2: In the event; ghat:. the highest- and best; bidders
should nor, be a City Depositor, an additional City Depositor
is created.
SECTION 3: Depositor shall be required 1,o post: security
for said funds in compliance with i.he Missouri Srat~e Statuies
and to provide for [he City Clerk adequate evidence of the
posting of said securil,_ies.
SECTION ~+: The Mayor and City Clerk and Finance Committee
are aui.horized t.o t.akc~ all necessary ac t.i_on r.o carry oui the
intent of this ordinance.
PASSED THIS 1gTH AY OF JUNE, 1890.
/"J~ -
MAYOR
ATTEST:
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City Clerk
APPROVED THIS igTH DAY OF JUNE, 1990.
MAYOR