HomeMy WebLinkAbout5448 - ADMIN Resolution - City Council - 1975/12/22w
RESOLUTION NO.
RESOLUTION APPROVING SECURITIES FOR
COLLATERAL FROM SHELARD NATIONAL
BANK OF ST, LOUIS PARK, MINNESOTA
WHEREAS, the Shelard National Bank of St. Louis Park, a
City Depository, has presented as collateral $900,000.00 as
follows:
$200,000.00 U. S. Treas. Notes Ser N-1977, dated
10/31/75, 7.50%, due 10/31/77
$300,000.00 U. S. Treas. Notes Ser. 1-77, dated
5/27/75, 6.75%, due 5/31/77
$100,000.00 U. S. Treasury Bills, dated 9/23/75, due
9/21/76
$200,000.00 U. S. Treasury Bilis-dated'8/26/75_6d due
8/24/76 ^�
$100,000.00 FNSM-77F, 7.25%, due 12/12/77.
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 First National Bank of St. Paul, Minnesota and Federal Reserve
Bank of Minneapolis for safekeeping.
Adopted by the City Council December 22, 1975.
Mayor
Attest:
City Clerk
Reviewed for administration: Approved as to form and legality:
City Manager City Attorney