HomeMy WebLinkAbout5888 - ADMIN Resolution - City Council - 1977/11/07NOVEMBER 7, 1977
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RESOLUTION NO. 5888
RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM MARQUETTE NATIONAL BANK OF MINNEAPOLIS,
MINNESOTA
WHEREAS, the Marquette National Bank of Minneapolis, a City
Depository, has presented as collateral $340,000 as follows:
$ 50,000 So. Dakota Hsg.Dev.Auth, Series A, 8.50%, due 11-1-79
$250,000 So. Dakota Hsg.Dev.Auth, Series A, 8.50%, due 11-1-79
$ 40,000 So. Dakota Hsg.Dev.Auth, Series B, 9.50%, due 11-1-79;
THEREFORE, 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 $340,000 of said collateral be
deposited with the Federal Reserve Bank of Minneapolis, Minnesota,
for safekeeping.
Adopted by the City Counc l November 7, 1977.
A test:
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City Clerk
(Reviewed for
Cf,ty- ana
1
Mayo
min's' ration: Approved as to form and legality:
City 'ttorne