HomeMy WebLinkAbout1997-025 - Authorization to Take Bids on $3,372,847.58BILL NO. 97-25
ORDINANCE NO . 97 - ;~ j
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $3,372,847.58 AND
AUTHORIZING THE CREATION OF AN 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 $3,372,847.50 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: Depositor shall be required to post security
for said funds in compliance with the Missouri
State Statutes and to provide the City Clerk
and Finance Committee are authorized to take
all necessary action to carry out the intent
of this ordinance.
PASSED THIS 4TH DAY OF MARCH, 1997 -: j
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~Nrayor Ed Rule`
ATTEST:
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Grace Kemerli ity C1
APPROVED THIS ~.~jDAY OF MARCH, 1997. ~
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~- Mayor Ed Rule