HomeMy WebLinkAbout1999 - 54 - Authorization for the Taking of Bids on $9,075,000.00BILL NO. 99-54
ORDINANCE NO. 99- ~'
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $9,075,000.00 AND
AUTHORIZING THE CREATION OF AN ADDITIONAL CITY DEPOSITORY 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 $9,075,000.00 for time deposits or for
federal national mortgage discount notes or
treasury bills for six months and one year and
authorizing investment of said funds with the
highest and best bidders.
SECTION 2: Depository shall be required to post security
for said funds in compliance with the Missouri
State Statutes and to provide the City Finance
Officer and City Administrator are authorized
to take all necessary action to carry out the
intent of this ordinance.
PASSED THIS 20TH DAY OF JULY, 1999.
Mayor Ed Rule
ATTES
se Rusick, City Clerk