HomeMy WebLinkAbout1986-40 - Authorization to Take Bids on $400,000.00BILL NO. 86-40
ORDINANCE N0. 86-40
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 ALDERMAN OF THE CITY
OF RIVERSIDE, MISSOURI, AS FOLLOWS:
Section 1. Authorization is hereby given to accept bids
on September 16th, 1986, for the Time Deposit of 90 days or
more and authorizing the investment for 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 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 16th day of September, 1986.
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CLERK MA O
Approved this 16th day of September 19
MAYOR