HomeMy WebLinkAbout1999 - 14 - Ratification of Acceptance of Bids on $9,199,000.00BILL NO. 99-14 ORDINANCE N0. 99-~
AN ORDINANCE RATIFYING THE ACCEPTANCE OF BIDS ON $9,199,000.00.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE,
MISSOURI, AS FOLLOWS:
SECTION 1: The investment of $1,359,000 in Federal
Home National Mortgage Assoc. Discount Notes
with Commerce Bank at a rate of 4.7239 for
a period of six months, maturing on July 13,
1999.
SECTION 2: The investment of $500,000.00 in Federal Home
National Mortgage Assoc. Discount Notes
with Commerce Bank at a rate of 4.752 for
a period of six months, maturing on July 26,
1999.
SECTION 3. The investment of $5,250,000.00 in Federal Home
National Mortgage Assoc. Discount Notes with
Merrill Lynch at a rate of 4.80% for a period
of six months, maturing on July 7, 1999.
SECTION 4. The investment of $1,090,000.00 in Federal
Home National Mortgage Assoc. Discount Notes
with Merrill Lynch at a rate of 4.76 for a
period of six months, maturing on August 17,
1999.
SECTION 5. The investment of $500,000 in Certificates of
Deposit with Norbank at a rate of 4.960 for a
period of six months, maturing on July 26,
1999.
SECTION 6. The investment of $500,000 in Certificates of
Deposit with Norbank at a rate of 4.96 for a
period of six months, maturing on July 28,
1999.
PASSED THIS 2ND DAY OF MARCH, 1999. _,
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Lowe Rusick, City Clerk