CCR1982157RESOLUTION #157-82
AUTHORIZATION FOR SHORT TERM INVESTMENTS
BY CITY TREASURER
BE IT RESOLVED, that the Common Council of the City of Muskego
that any cash balances in the General Fund in excess of $5,000
are hereby found and determined to be not immediately needed.
BE IT FURTHER RESOLVED, that the City Treasurer is hereby
authorized and directed to purchase from time to time for the
General Fund and from the proceeds from the sale of bonds and
notes and for funds of the Sewer Utility any evidences of
indebtedness issued or guaranteed as to principal and interest
by the United States Government, and those of all commissions,
boards, or other instrumentalities of the United States Government due
to mature in one year or less, to the amount of excess cash balances
described in the first paragraph hereof.
BE IT FURTHER RESOLVED, that the City Treasurer is hereby
States Government securities, due to mature in 1'0 months or less,
authorized to enter into re-purchase agreements of the United
and purchase certificates of deposit from those banks designated
as public depositories for the City of Muskego.
BE IT FURTHER RESOLVED, that with regard to such deposit or
investment of such funds, the City Treasurer shall take into
consideration the following factors:
1. The safety and security of the investment or deposit shall
be paramount
2. The interest rate and other terms offered.
3. The capacity of the depository to handle the size of the
deposit or investment
4. The amount of existing City funds which are already in such
depository.
DATED THIS DAY OF dl" , 1982
v
FINANCE COMMITTB
Ald. Mitchel Penovich
ATTEST.
City Clerk