HomeMy WebLinkAbout5887 - ADMIN Resolution - City Council - 1977/11/07NOVEMBER 7, 1977
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RESOLUTION NO. 5887
RESOLUTION APPROVING SECURITIES FOR
COLLATERAL FROM NORTHWESTERN NATIONAL
BANK OF HOPKINS, HOPKINS, MINNESOTA
WHEREAS, the Northwestern National Bank of Hopkins, a City
depository, has presented as collateral $130,000 as follows:
$100,000 Crosby -Ironton, MN, ISD #182, 6.70%, dated
5-15-75, due 11-15-78; and
$30,000 Fergus Falls, MN, Imp. Bond of 7-1-68, 4.75%,
due 1-1-83,
BE IT RESOLVED by the City Council of the City of St. Louis
Park that the Treasurer be authorized to accept said securities as
collateral and that $130,000 of said collateral be deposited with
the Federal Reserve Bank of Minneapolis, Minnesota for safekeeping.
Adopted by the City Counc'1 November 7, 1977.
ReVhiewednfor adm,'nnistration:
U ty Manager
Mayor
Approved as to form�,nd legality:
City A