CCR1965065RESOLUTION #65
8 INVESTMENT OF CITY FUNDS
IV'HEREAS, THE CITY OF MUSKEGO HAS A SURPLUS OF FUNDS IN THE
AMOUNT OF $125,000.00 OVER AND ABOVE' TEE AMOUNT REQUIRED FOR
THE NORMAL OPERATIONS OF THE CITIES VARIOUS DEPARTMENTS,
VHEREAS, 90 DAY BANK CERTIFICATES CAN BE ACQUIRED AT A
INTEREST RATE OF 48 AND TREASURY NOTES CAN BE PURCHASED AT
AN INTEREST RATE OF BETWEEN 3.6 - 3.0 $,
WHEREAS, THE FINANCE COMMI.TTEE HAS RECOMMENDED THAT A 90
DAY BANK CERTIFICATE IN THE ANOUNT OF $75,000.00 BE PUR-
CHASED FROM THE WAUKESHA STATE BANK AND THAT TREASURY NOTES
'a
IN THE ANOUNT OF $25,000.00 TO MATURE JULY 3lST AND $25,000.00
TO MATURE AUGUST 31ST BE PURCHASED,
THEREFORE, BE IT RESOLVED THAT THE COMMON COUNCIL FO THE CITY
OF MUSKEGO DOES HEREBY AUTHORIZE THE CLERK-TREASURER TO
PURCHASE A 90 DAY BANK CERTIFICATE IN THE ANOUNT OF $75,000.00
TO HATURE SEPTEMBER 30TH AND $~o,ooo.oo OF TREASURY NOTES
TO NATURE AS FOLLOWS; $25,~00.00 ON JULY 31sT AND $25,000.00
ON AUGUST 3lST.
FINANCE COHMITTEE