HomeMy WebLinkAbout1986-43 - Authorization to Take Bids on $800,000.00BILL NO. 86-4:3
ORDINANCE NO. 86-43
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $800,000.00
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 October 14, 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 auhtorized to take all necessary action to carry out the
intent of the ordinance.
Passed this 7th, day of October, 1986 ~)
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/C~~V
CLERK MAY 'R
Approved this 7th, day of October, 1986. ~ ~
MAYOR