HomeMy WebLinkAbout1985-16 - Authorization to Take Bids on $1,600,000.00BILL NO. 85-16
ORDINANCE NO. 85-16
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $1,600,000.00
AND AUTHORIZING THE CREATTON 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
April 17, 1985, for the Time Deposit 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
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
are authorized to take all necessary action to carry out the
intent of this Ordinance.
Passed this 2nd day of April, 1985.
ATTEST:
~1 __
City C1 rk
MAYOR
Approved this 2nd day of April, 1985.
MA