HomeMy WebLinkAbout6463 - ADMIN Resolution - City Council - 1980/01/07RESOLUTION NO.
6463
JANUARY 7, 1980
8d
RESOLUTION REDESIGNATING DEPOSITORY FOR
CITY FUNDS
BE IT RESOLVED by the City Council of the City of
St. Louis Park that Shelard National Bank of St. Louis
Park, St. Louis Park, Minnesota, be hereby redesignated
as a depository for the funds of the City, and the
maximum amount of such deposits to be kept therein at any
one time is hereby increased frpm $1 million to $2 million.
BE IT FURTHER RESOLVED that the Shelard National
Bank of St. Louis Park deposit with the First National Bank of
St. Paul and Federal Reserve Bank of Minneapolis as security
for such deposits, such securities as may be approved by the
City Council in the manner and amount required by law.
Adopted by the City Council January 7, 1980.
Mayf
Attest:
Reviewed for -a duini iration: Approved as to form and legality:
Cit 1 -Manager
CityAttorney