HomeMy WebLinkAbout4580 - ADMIN Resolution - City Council - 1972/07/17Original
ORIGINAL
JULY 17, 1972
713
RESOLUTION NO. 4 5
RESOLUTION INCREASING DESIGNATED MAXIMUM
AMOUNT TO BE KEPT IN DEPOSITORY
WHEREAS, the City Council has heretofore in Resolution No. 4483
designated the Citizens 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 $2,450,00 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 Citizens State
Bank of St. Louis Park as an official designated depository of the
City be increased to $2,764,100 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 Cit
Attest:
42-21-417---411"21,
ity Clerk
Reviewed for administration:
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City,Manager
(�'
• A. i 1 J _ `tri z•
Mayor
Apprpved as to form and legality:
City orney