HomeMy WebLinkAbout1997-117 - Authorization to Take Bids on $6,600,000.00BILL NO. 97-117 ORDINANCE NO. 97-~~
AN ORDINANCE AUTHORIZING THE TAKING OF BIDS FOR $6,600,000 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 $6,600,000 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 City Administartor are authorized to take
all necessary action to carry out the intent
of this ordinance.
PASSED THIS 4TH DAY OF NOVEMBER, 1997
Mayor Ed Rule
ATTEST:
Grace Kemerling- City C1erYc,' ~~
APPROVED THIS ~ ~~' DAY OF NOVEMBER, 1997.
ayor Ed Rule