89-508 WHITE - CITV CLERK
PiNK - FINANCE COl1I1C11 /��/
CANARV - DEPARTMENT GITY OF' AINT PAUL ��~iJ�
BLUE - MAVOR File NO•
C� ' lution r a5��
, � c
Presented y
Referred To ���' ��� Committee: Date � !°� �
Out of Committee By Date
WHEREAS, the City of Saint Pau p ssed a resolution, 88-223 supporting
affirmative action policies in Nort er Ireland and limiting City investment
alternatives for companies doing bu in ss in Northern Ireland subject to the
adoption of rules and regulations, nd
WHEREAS, the City Treasurer ha o tained from the Investor Responsibility
Research Center a list of companies do'ng business in Northern Ireland, and
WHEREAS, the City has not had ' n investments with any of these companies
since 1986, and
WHEREAS, the return on the Ci y ' vestment portfolio will not be affected
if the City does not purchase secu it'es issued by these companies, now
THEREFORE, BE IT RESOLVED tha t e City will not purchase investments
issued by U.S. companies that have op rations in Northern Ireland as identified
by the Investor Responsibility Res ar h Center.
COUNCIL MEMBERS Requested by Department of: �
Yeas Nays �Y �� ���
Dimond �/V -r ��
�.ong _�� in Fa or
Gosw;tz
� � I�
��' � A ain t BY C� ���
Scheibel g
�9ee�
Wilson
Adopted by Council: Date
APR 2 7 Form Appr v d by City A or y
Certified Yas e n il S ar BY —
gy.
Approve Mav . a APR 2 819 Appro d Mayo for 'ssion to Council _
B —
PUBIiS�D �y�aY - � 19 9 -
� � �� .��'
DEPARTMENTIOFFlCEICOUNqI DATE INITIA D
Finance/Treasury Division 03/07 89 GREEN SHEET NO. � �3 O
iNm�w a�� INITIAUDATE
OONTACT PER80N Q PHONE DEPARTMENT DIRECTOR �GTY COUNqL
Gary Norstrem � cm n�wer �aTV c�wc
MUST BE ON OOUNpL AQENDA BY(DA NOU7INQ BUDOET DIRECTOR IN.6 MOT.SERVI(�8 DIR.
MAYOR(OR ASSISTANT) � (;p»nr i 1 e
TOTAL#�OF SIGNATURE PAQES One ��p ALL L TIONS FOii SIaNATUR�
ACTION RECUESTED:
Provides compliance language relating to p e�'ously adapted City p�'iti.on on i.nvesting with
companies doing business in Northern Irel d,
RECOMMENDATIONS:Approve(/q a Ryect(F� COUNGL TTEE/RESEARCH RE
_PLANNING COMMIS810N _GVIL SERVICE COMMI8810N ANALYST PHONE N0. �
_CIB COMMITTEE _
-�� COMMENTB
—o�+���u�T — I E OF THE DIRECTQ�/ �9�P ��
OFF C � O
surr�rswF+ia+oouNa�oaiecrivE� DEPARTME�IT OF FINANCE ��'� � J9
RVICES 8
INfTIAT1NCi PROBLEM,18SUE,OPPORTUNITY(Who,Whet,When,Whsro,Wh�:
C.F. 88-223 adopted on 02/16/88 required ha the Cit� Council sha11 adopt zules and���`�
regulations which limit City Investments n orthern Ireland. This resalution will �
fulfill that requirement.
ADVANTA(�E8 IF APPROVED:
DISADVANTAOES IF APPROVED:
No disadvantage to the City. We will sti 1 e able ta obtain maxket rates on our investments
without in�esting in companies doing busi es in Narthexn Ireland.
D18ADVANTAOEB IF NOT APPF�VED:
Follow-up rules and regulations relating o orthern Ireland investments wi11 not be
adopted as anticipated by C.F. 88-223.
r��y"�'� �
,._:, ��E:;eUrc�'� Cen�er
h1t�R 1� i�89
TOTAL AMOUNT OF TRAN8ACTION � NONE �pgT�p�y�uE suDOe7E�(C�RC�e oN� YES NO
FUNDINO SOURCE ACTIVITY NUMBEFi
FlNANqAL INFORMATION:(EXPWN)
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OFFIC� O 'r E CITY COIINCII. .
Com itt e Report � �
Finance Mana eme t & Personnel Committee
APRIL 17 1989
1 . Approvai of minutes of April 3 me ti g. Approved
2. Discussion of 1990 Budget Goals a d olicies. Laid over to 5/1
3. Discussion of Capital Allocation olicy financing Laid over to 5/1
changes.
-," 4� Resolution 89-518 - amending the 1 8 budget by adding Approved substitute �-
?_ � �"� $54,000 to the Financing and Spen in Plans for Police resolution
Speciai Projects-Nationai Reining or e Derby.
(Referred from Council March 28)
�5 Resolution 89-593 - amending the 1 89 budget by adding Approved
adding $14,953 to the Financing an S ending Plans
for Parks and Recreation Supply an M intenance
grass cutting, snow removat , titte p ckup and other
exterior tasks. (Referred from Co nc 1 April 6)
6. Resolution 89-594 - amending the 1 89 budget by Approved
adding $2,334 to the Financing and 5p nding Plans
for Parks and Recreation 5upply an M intenance
snow removal . (Referred from Coun il April 6)
_�.....---�-----�---- ._ _ - .
7. Resoiution 89-508 - supporting C.F 8 -223 adopted Approved
February 16, 1988, and not purchas ng investments
issued by U.S. companies that have �p rations in
Northern Iretand as identified by e Investor
Responsibility Research Center. ( ef rred from
ounc i 1 March 23) �_�------°`°°
8. Resolution 89-567 - authorizing th Ma or to submit Approved as amended
the CDBG Year XV Statement of Comm it Objectives
and Projected Use of Funds to HUD. (R ferred from
Council Aprii 4)
(continued) _
CTTY HALL SEVE TH FLOOR SAINT PAUL, MINNESOTA 55102
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