HomeMy WebLinkAbout1986-22 - Ratification of Acceptance of Bids on $1,300,000.00BILL N0. 86-22
ORDINANCE N0. 86-22
AN ORDINANCE RRTIF`!INa THE ACCEPTANCE OF BIOS ON THE DEPOSIT AND CREATING
AN ADDITIONAL CITY DEPOSITOR.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE,
MISSOURI, AS FOLLOWS:
Section 1. The investment of $300,000.00 in the LandMark KCI Bank,
at the rate of 7.15 percent per annum for the specified time of six
months is hereby ratified.
Section 2. The investment of $500,000.00 in the United Missouri
Bank of Kansas City, at the rate of 6.15 percent per annum for the
specified time of 90 days is hereby ratified.
Section 3. The investment of $400,000.00, divided into four
$100,000.00 increments, in the Commerce Bank of Kansas City, at the rate
of 7.50 percent per annum for the specified time of six months is hereby
ratified.
Section 4. The investment of $100,000.00 in the Boatmen's First
National Bank of Kansas City, at the rate of 6.38 percent per annum for
the specified time of six months is hereby ratified.
Passed this 15th day of April, 1986. ~ ~~ ,~ 1
M y r
ATTEST:
City Clerk
Approved this 15th day of April, 1986.~~ ~ ~' 1
Mayor