HomeMy WebLinkAbout1998-12 - Ratification of Acceptance of Bids on $7,404,235.91BILL NO. 98-12
ORDINANCE NO. 98-~~
AN ORDINANCE RATIFYING THE ACCEPTANCE OF BIDS ON $7,404,235.91.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE,
MISSOURI, AS FOLLOWS:
SECTION 1: The investment of $3,472,745.27 in Federal
Home National Mortgage Assoc. Discount Notes
with Nations Bank at a rate of 5.55``-k for a
period of six months, maturing on July 9, 1998.
SECTION 2: The investment of $1,639,887.86 in Federal Home
Loan Bank discount notes with United Missouri
Bank at a rate of 5.418, maturing on July 7,
1998.
SECTION 3: The investment of $486,602.78 in Federal Home
Loan Bank discount notes with Merrill Lynch at
a rate of 5.521 for a period of six months,
maturing on July 30, 1998.
SECTION 4: The investment of $800,000.00 in a Certificate
of Deposit with Norbank at a rate of 5.85% for
a period of six months, maturing on July 3,
1998.
SECTION 5: The investment of $500,000.00 in a Certificate
of Deposit with Norbank at a rate of 5.610 for
a period of six months, maturing on July 26,
1998.
SECTION 6: The investment of $500,000.00 in a Certificate
of Deposit with Norbank at a rate of 5.61% for
a period of six months, maturing on July 28,
1998.
SECTION 7: The investment of $5,000.00 in a Certificate of
Deposit with Farmers' Bank at a rate of 5.2%
for a period of six months, maturing on July 6,
1998.
PASSED THIS 3RD DAY OF FEB:
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