3136 Invest Idle Fundsv
RESOLUTION NUMBER 3136
A RESOLUTION AUTHORIZING THE TEMPORARY INVESTMENT OF APPROXIMATELY $1,340,000.00
OF IDLE FUNDS OF THE CITY OF SALINA, KANSAS.
BE IT RESOLVED by the Governing Body of the City of Salina, Kansas;
Section 1. That the City Clerk of the City of Salina, Kansas, is
hereby authorized and directed to temporarily invest approximately $1,340,000.00
of temporary idle money of the City of Salina, Kansas, this amount to be in
Certificates of Deposit with the banks in Salina.
Section 2. That the investment of the above funds shall be in
accordance with all provisions of Section 2-188 of The Salina Code.
Adopted by the Governing Body of the City of Salina, Kansas, and
approved by the Mayor this 2gth ate„ --Fr.,,,,n, i a7q
-�(SEAL)
At -t- Qt-:
D: L. Harrison, City Clerk
. I
TO: Norris Olson, City Manager,
FROM: Don Harrison, City Clerk
SUBJECT: Investment of Idle Funds
DATE: January 25, 1973
There will be approximately $600,000.00
available
in the
General Operating Fund to invest as follows:
$100,000.00 3 Months Certificate of
Deposit
4.75%
$ 1,187.50
$200,000.00 4 Months Certificate of
Deposit
5-0
3,333.25
$300,000.00 6 Months Certificate of
Deposit
5.5
8,250.00
$12,770.75
There will be approximately $740,000.00
available
in the
Bond and Interest Fund to invest as follows:
f
$330,000.00 2 Months Certificate of
Deposit
4.5%
$ 2,475.00
{
$ 60,000.00 6 Months Certificate of
Deposit
5.5
12650.00
$350,000.00 8 Months Certificate of
Deposit
5.5
12,833.25
$16,958.25
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