HomeMy WebLinkAbout4484 - ADMIN Resolution - City Council - 1972/04/17ORIGINAL
APRIL 17, 1972
7C2
RESOLUTION NO. 4484
RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM CITIZENS STATE BANK OF ST. LOUIS PARK,
MINNESOTA
WHEREAS, the Citizens State Bank, of St. Louis Park, a City
Depository, has presented as collateral $2,700,000 as follows:
$300,000 U.S. Treasury Notes, 6 1/4%, due 2-15-78
$200,000 U.S. Treasury Notes, 5 5/3%, due 8-15-74
$100,000 U.S. Treasury Notes, 7.75%, due 2-15-74
$100,000 U.S. Treasury Notes, 6.25%, due 2-15-76
$200,000 U.S. Treasury Notes, 6.00%, due 5-15-75
$100,000 Federal Land Banks, 8 3/87, due 1-20-75
$150,000 Federal National Mortgage Assn., 8.70%, due 6-12-72
$300,000 Federal National Mortgage Assn., 8.40%, due 9-11-72
$ 50,000 Federal Land Banks, 7.95%, due 1-22-73
$400,000 Federal National Mortgage Assn., 7.50%, due 9-10-75
$300,000 Federal Home Loan Banks, 6 1/2%, due 11-25-75
$100,000 U.S. Treasury Notes, 8%, due 2-15-77
$200,000 U.S. Treasury Notes, 7 3/4%, due 8-15-77
$200,000 U.S. Treasury Notes, 7k%, due 8-15-76
BE IT RESOLVED by the City Council of the City of St. Louis Park,
Minnesota, that the treasurer be authorized to accept said securities
as collateral and that said collateral be deposited with the Marquette
National Bank of Minneapolis, Minneapolis, Minnesota for safe keeping.
Adopted by the City April
4111111 I i*P 1W' "41;41
s%•••-
Atte t:
74L4/7(kgg:400.1L./
ity Clerk
City Manager
nistration:
Mayor
Appr ed as to form and legality:
City etorney