HomeMy WebLinkAbout4578 - ADMIN Resolution - City Council - 1972/07/17Original
JULY 17, 1972
711
RESOLUTION NO. 457 8
RESOLUTION INCREASING DESIGNATED MAXIMUM
AMOUNT TO BE KEPT IN DEPOSITORY
WHEREAS, the City Council has heretofore in Resolution No. 4483
designated the First Western State Bank of St. Louis Park, St. Louis Park,
Minnesota, as an official depository of the City with a maximum
designated amount to be kept there in the sum of $933,500 at any
one time, and
WHEREAS, it is now determined that the City in the immediate
future will require the deposit of sums in excess thereof, therefore
BE IT RESOLVED by the City Council of the City of St. Louis Park,
that the maximum amount designated to be kept in the First Western
State Bank of St. Louis Park as an official designated depository
of the City be increased to $1,293,500 and the said depository be
required to increase its deposit of collateral in accordance with
the requirements of law in such case provided.
Adopted by the City Council Jul
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