HomeMy WebLinkAbout1988-53 - Authorization to Take Bids on $100,000.00 and $500,000.00BILL No. %~-~ 3
ORDINANCE N0. ~i'~'-~~3
AN ORDINANCE AUTHORIZING 1'HE TAKING OF BIDS FOR $ 100,000.00
AND $ 500,000.00 AND AUTHORIZING THE CREATION OF ADDITIONAL
CITY DEPOSITOR FOR THE HIGHEST AND BEST BIDS.
BE I'T ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF
RIVERSIDE, MISSOURI, AS FOLLOWS:
Section 1. Authoriz.'ation is hereby given to accept
bids on October 3rd and October 12th 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 shsould 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 Clerk 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 to carry out the
inCent of this Ordinance.
Passed this 2Qieth day of gepf, 1988.
ATTEST:
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City Clerk
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1. /_tCC-i ~LL4-C~, 1(_i
ayor
APPROVED THIS 20ieth day of September, 1988.
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MAYOR