HomeMy WebLinkAbout1988-25 - Authorization to Take Bids on $800,000.00BILL N0. 88-25 ORDINANCE N0. 88-25
AN ORDINANCE AOTHORIZING TF]E TAKING OF R1DS FOR $800,000.00
AND AOTHOHTZING THE CRI?ATION OF ADDITIONAL CITY DEPOSITOR r'OR
THE HIGHEST AND l3GST BIDS.
BE 1T ORDAINEll BY THE BOARD OF ALDERMEN OE THE CITY OF
RIVERSIDE, MTSSOORI, AS FOLLOWS:
Section 1. Authorization is hereby given Y,o accept, bids
on April 12, 1988, for the TirreDeposit,s o1' 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 Missouri State Statutes
and to provide for the City G1erk adequate evidence of the
posting of said securities.
Section 4. The Mayor and City Clerk and Finance Committee
are authorized to take all necessary action t.o carry out the
intent of this Ordinance.
Passed this 5th day of April, 1988
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MAYOR YYRO TLM
AT'1'~ST:
~ ity Clerk
i
Approved this 5th day of April, 1988
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MAYOR PRO '1'EM