HomeMy WebLinkAbout4581 - ADMIN Resolution - City Council - 1972/07/17Original
JULY 17, 1972
714
RESOLUTION NO. 4581
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 heretofore presented as collateral $2,700,000 as
follows:
$300,000 U.S. Treasury Notes, 6 1/47., due 2-15-73
$200,000 U.S. Treasury Notes, 5 5/8%, due 3-15-74
$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., 3.70%, due 6-12-72
$300,000 Federal National Mortgage Assn., 3.407., due 9-11-72
$50,000 Federal Land Banks, 7.957., due 1-22-73
$400,000 Federal National Mortgage Assn., 7.507., due 9-10-75
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$300,000 Federal Home Loan Banks, 6 1/2%, due 11-25-75
$100,000 U.S. Treasury Notes, 870, due 2-15-77
$200,000 U.S. Treasury Notes, 7 3/4%, due 3-15-77
$200,000 U S. Treasury Notes, 7k7,, due 3-15-76
now in safekeeping with the Marquette National Bank of Minneapolis,
Minneapolis, Minnesota (Resolution No. 4434), and
WHEREAS, the Citizens State Bank of St. Louis Park, a City
Depository, now has presented as additional collateral $349,000
as follows:
$349,000 U.S. Treasury Notes, 5.757°, due 2-15-75
which is to be placed in safekeeping with the Marquette National Bank
of Minneapolis, Minneapolis, Minnesota, therefore
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 safekeeping.
Adopted by the City Council Jul 17, 1472
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ity Clerk
Reviewed for administration: ,Z77,d as to for nd legality:
Cit Manager City torney
Mayor