HomeMy WebLinkAbout1988-45 - Authorization to Take Bids on $400,000.00BILL N0. 88-45
ORDINANCE N0. 88-4>
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $400,000.00 AND
AUTHORIZING THE CREA'PTON OF ADDITIONAL CITY DEPOSITOR r'OR THE
HIGHEST AND BEST BIDS.
BE IT ORDAINED BY THE BOARD OF ALllERN1EN OF THF. C PPY OF
RIVERSIDE, MISSOURI, AS FOLLOWS:
Section 1. Authorization is hereby given to accept bids on
July 7, 1988, for the Time Deposits 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 Cunds in compliance with the Missouri Stat;e Statutes and to
provide for the City Clerk adequate evidence of the posting or said
securities.
Section 4. The Mayor and City Clerk and Finance Committee
are authorized to take all necessary action to carry out the intent
of this Ordinance.
Passed this 28th day of June, 1988.
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MAYO
ATTEST:
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Ci~f~y Clerk ~%
Approved this 28th day of June, 1988.
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MAYOR