HomeMy WebLinkAbout4665 - ADMIN Resolution - City Council - 1972/10/16ORIGINAL
OCTOBER 16, 1972
7C
RESOLUTION No4 6 6 5
RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM AMERICANA STATE BANK OF EDINA, EDINA, MINNESOTA
WHEREAS, the Americana State Bank of Edina, a City Depository,
has heretofore presented as collateral $350,000 as follows:
$750,000 Federal National Mortgage Assn., 6.125%, due 9-10-73
$100,000 Federal National Mortgage Assn., 6.759%, due 6-12-73
now in safekeeping with the Northwestern National Bank of Minneapolis,
Minneapolis, Minnesota (Resolution No. 4490), and
WHEREAS, the Americana State Bank of Edina, a City
Depository, now has presented as additional collateral $350,000
as follows:
$350,000 U.S. Treasury Bills, due 3-28-73
which is to be placed in safekeeping with the Northwestern 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 Northwestern National Bank of Minneapolis, Minneapolis,
Minnesota for safekeeping.
est:
City Clerk
Adopted by the City Counci
Mayor
Reviewed for administration: Ap ved as to form and legality:
City Manager Cit ttorney'