HomeMy WebLinkAbout1998-68 - Ratification of Acceptance of Bids on $6,419,659.24BILL NO. 98-68
ORDINANCE NO. 98-~
AN ORDINANCE RATIFYING THE ACCEPTANCE OF BIDS ON $6,419,659.24.
BE IT ORDAINED BY THE BOARD OF ALDERMEN OF THE CITY OF RIVERSIDE,
MISSOURI, AS FOLLOWS:
SECTION 1: The investment of $807,632.42 in Federal
Home National Mortgage Assoc. Discount Notes
with Commerce Bank NA at a rate of 5.585% for
a period of six months, maturing on a January
14, 1999.
SECTION 2: The investment of $486,525.56 in Federal Home
Loan Bank discount notes with Commerce Bank NA
at a rate of 5.5850, maturing on January 27,
1999.
SECTION 3: The investment of $1,638,924.61 in Federal Home
Loan Bank discount notes with Merrill Lynch at
a rate of 5.5750, maturing on January 7, 1999.
SECTION 4: The investment of $3,468,576.65 in Federal Home
Loan Bank discount notes with Merrill Lynch at
a rate of 5.575, maturing on January 7, 1999.
SECTION 5: The investment of $500,000 in a Certificate of
Deposit with Norbank at a rate of 5.50,
maturing on January 26, 1999.
SECTION 6: The investment of $500,000 in a Certificate of
Deposit with Norbank at a rate of 5.5%,
maturing on January 28, 1999.
SECTION 7: The investment of $800,000 in a Certificate of
Deposit with Norbank at a rate of 5.54%,
maturing on January 3, 1999.
PASSED THIS 4TH DAY OF AUGUST, 1998.
Mayor d ule
AST: ~ _
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Grace Kemerl' , City ~ e k