HomeMy WebLinkAbout4779 - ADMIN Resolution - City Council - 1973/03/26•
ORIGINAL
RESOLUTION NO. 4779
REPLACEMENT
MARCH 26, 1973
7A
RESOLUTION AUTHORIZING THE RELEASE OF SECURITIES
AND APPROVAL OF SUBSTITUTED SECURITIES OF
FIRST NATIONAL BANK OF HOPKINS, MINNESOTA
WHEREAS, the First National Bank of Hopkins, a duly designated
depository of the City, has requested the release of the following
securities:
$550,000 U.S. Treasury Bills, due February 15, 1974
which have heretofore been pledged as collateral security for the
account of the City with such depository, and
WHEREAS, the said depository has substituted for the securities
requested to be released as described above, the following securities:
$50,000 El Paso Co., Colo. S.D. #1J, 3.05%, due 11-15-70 •
$50,000 Baltimore Co., Md., var. purpose OSE, 6.00%, due 10-1-79 h
$50,000 Mass. Hsg. Finance Agency, 5.25%, due 4-1-34 K
$400,000 Rochester, N.Y., Bond Ant. Notes, 3.6%, due 1-31-74
by depositing the same with the First National Bank of Ilinneapolis,
Ilinnesota for safekeeping, to be collateral security for the account
of the City with such depository, therefore
BE IT RESOLVED by the City Council of the City of St. Louis Park,
that the City Treasurer is hereby authorized to release and return to
said depository the following securities:
$550,000 U.S. Treasury Bills, due February 15, 1974
and that the securities above listed as being substituted in the amount
of $550,000 are hereby approved as collateral for the City account with
the First National Bank of Hopkins, Hopkins, Ilinnesota, and their deposit
for safekeeping with First National Bank of Minneapolis as above mentioned
is hereby approved.
Adopted byithe Cit
Reviewed for administration:
�-r
City Manager
Mayor
Approved as to form a d
legality:
Ax
City orney