HomeMy WebLinkAbout1986-14 - Authorization to Take Bids on $400,000.00BILL NO. 86-14 ORDINANCE NO. 86-14
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $400,000.00 AND
AUTHORIZING THE CREATION OF ADDITIONAL CITY DEPOSITOR FOR THE
HIGHEST AND BEST BIDS.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE,
MISSOURI, AS FOLLOWS:
Section 1. Authorization is hereby given to accept bids on
March 31, 1986, for the Time Deposit of 90 Days or more and authorizing
the investment of said funds with the highest and best bidders.
Section 2. Tn 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 Clerk adequate evidence of the posting of said securities.
Section 4. The Mayor and City Clerk and Finance Committee is
authorized to take all necessary action to carry out the intent of this
Ordinance.
Passed this 25th day of March, 1986
Ma r
ATTEST : ,6J-~ ~~i~~
Ci y Clerk
Approved this 25th. day of March., 1986.
Mayor