HomeMy WebLinkAbout1990-71 - Authorization to Take Bids on $100,000.00BILL NO. 90- ~' ORDINANCE NO. 9U- i'/
AN ORDIN,NCE ,9t1THORIZING THE 'I'RKING OF ESIDS FGR ~ 100,000.00
AND AUTHORIZING THE CRE,°,TION OF' RN ADDITIONAL CITY DEPOSITOR
FOR THE HIGHEST AND BEST BIDS.
BE IT ORri,3INED BY THE BOARD OF RLDERMEN OF THE CITY CAF
RIVERSIDE, MISSOURI, AS FOLLOWS:
SECTION 1: Rut.horizatian is hereby given to accent. t~ids on
January 03, 1991 on S 100.000.00 for time deposits for either
six C6) mont.hs or one C1) year and authorizincr investment of
said funds with the highest and best bidders.
SECTION 2: In the event t1;at the tri~hest •~nd best bidders
should not he a Cit.v Dep_ositar, an additional City Dep_asitar
is created.
SECTION 3: Depositor shall be required to post security roc
said funds in compliance with the Missouri State Statutes
and to provide for the ~.,i.tv ~:lerk and Finance Committee are
authorized t.a take all necessary action to carry out the
intent of this ordinance.
PASSED THIS 18TH DAY OF DECEMBER 1990.
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MAYOR
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ATTEST:
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City Clerk - ~ ;
APPROVED THIS 18TH DAY OF DECEMBER 1990.
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MAYOR •