HomeMy WebLinkAbout1988-07 - Authorization to Take Bids on $500,000.00BILL N0. 88-7 ORDINANCE N0. 887
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR X500,000.00
AND AUTHORIZING THE CREATION OF ADDITIONAL CITY DEPOSITOR FOR
THE HIGHEST AND BEST BIDS.
BE IT ORDAINED BY THE BOARD OF ALDERPlEN OF THE CITY OF
RIVERSIDE, P.lISSOURI, AS FOLLOI",~5:
Section 1. Authorization is hereby given to accept bids
on January 29, 1988, for the Time Deposit of 90 Days or more
and authorizing the 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 Plissouri State Statues
and to provide for the City Clerk adequate evidence of the
posting of said securities.
Section 4. The Mayor and City Clerlc and Finance Committee
are authorized to tape all necessary action to carry out the
intent of this Ordinance.
Passed this 19th day of January, 1988.
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PTAYOR PRO-TEbR
ATTEST:
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Approved this 19th day of January, 1988.
DIAYOR PRO-TEP~