HomeMy WebLinkAbout1987-15 - Authorization to Take Bids on $400,000.00BILL N0. 87-15
ORDINANCE N0. 87-15
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $400,000.00 AND
AUTHORIZING THE CREATION OF ADDITIONAL CITY DEPOSITOR FOR THE
IIIGHEST AND BEST BIDS.
BE IT ORDAINED BY TIIE BOARD OF ALDERP,IEN OF THE CITY OF
RIVERSIDE, MISSOURI, AS FOLLOWS:
Section 1. Authorization is hereby given to accept bids
on April 7, 1987, for the Time Deposit of 90 Days or more
and authorizing the investment of said funds ~~ith 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 ~~~ith the Missouri State Statutes
and to provide for the City Clerk adequate evidence of the posting
of said securities.
Section 4. 'Phe P:Iayor and City Clerk and Finance Committee
is authorized to take all necessary action to carry out the intent
of this Ordinance.
Passed this 17th day of -4arch, 198I7.~
Y
ATTEST: ';:" ,..'.
City Clerk
Approved this 17th day of March, L987.I
I,
Mayor•.~ ~, _