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CC Regular Session 4. 12. <br />Meeting Date: 06/12/2012 <br />By: Diana Lund, Finance <br />Information <br />Title: <br />Adopt Resolution # 12-06-XXX Authorizing a Fixed Rate Membership in the 4M Fund <br />Background: <br />The city has been a member of the 4M fund since the 1990's in its money market account. The 4M fund is currently <br />holding the bond funds related to The Residence at the COR apartment project. Approximately $386,000 of the <br />bond proceeds are attributed to capitalized interest which need to be retained until December 2014. <br />The city would like to take advantage of a higher rate of interest for this time period, which is offered throught the <br />4M fund's fixed rate program. To become a member of this program, the city just needs to adopt a resolution <br />authorizing this membership. <br />Council Action: <br />Motion to adopt Resolution Authorizing Membership the the 4M Fund's Fixed Rate Program. <br />Membership in 4M's Fixed Rate Fund <br />Attachments <br />Form Review <br />Inbox Reviewed By Date <br />Kurt Ulrich Kurt Ulrich 06/07/2012 04:25 PM <br />Form Started By: Diana Lund Started On: 06/07/2012 09:04 AM <br />Final Approval Date: 06/07/2012 <br />