HomeMy WebLinkAbout5933 - ADMIN Resolution - City Council - 1978/01/031
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January 3, 19/8
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RESOLUTION NO. 5933
RESOLUTION APPROVING SECURITIES FOR
COLLATERAL FROM FIRST NATIONAL BANK
OF HOPKINS, HOPKINS, MINNESOTA
WHEREAS, the First National Bank of Hopkins, a City depository,
has presented as collateral $595,000 as follows:
$ 50,000 Los Angeles, CA, Elec. Plant Rev., 7%, due 11-15-83
$ 50,000 Dade Co., FL, Pub. Imp. SR B, 7.50%, due 7-1-87
$ 95,000 Eagan, MN, G.O. Imp. Bd., 4.750%, due 4-1-79
$100,000 Rochester, MN, Hosp. Rev. Bd., Ser. A, 5.400%, due 6-1-82
$ 20,000 Grand Forks, ND, Wtrmn, D $138, Imp., 3.525%, due 12-1-78
$ 75,000 Grand Forks, ND, Wtrmn, D #139, Imp., 3.625%, due 12-1-78
$ 5,000 Grand Forks, ND, Wtrmn, D #143, Imp., 3.625%, due 12-1-78
$100,000 W. Virginia CPN Road Bd., 7%, due 11-1-83
$100,000 Red Wing, MN, G.O. Strm. Swr. Bd., 5%, due 1-1-79
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
$595,000 of said collateral be deposited with the Federal Reserve Bank of
Minneapolis, Minnesota for safekeeping.
Adopted by the City Council January 3, 1978.
Attest:
,, etr:
ity Clerk
Mayo
Reviewed for admini. traion: Approved as to form and legality:
City Atto