HomeMy WebLinkAbout6485 - ADMIN Resolution - City Council - 1980/02/04February 4, 1980
8B
RESOLUTION NO. 6485
RESOLUTION APPROVING SECURITIES FOR COLLATERAL;
FROM SHELARD NATIONAL BANK, ST. LOUIS PARK, MINN.
WHEREAS, the Shelard; National Bank of 'St. `Louis Park, a
=City depository,:has presented' the' following collateral to 'secure
.deposits of the City:
$100,,000 U. S. Treasury Notes, 6.75%,, due 6-30;81
$'50,000 St. Paul, MN Housing & Red: Bond, 7.60%, due 9=1-93~
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 said collateral be deposited with th'e
First'National Bank of St. Paul, Minnesota, and the Federal Reserve
Bank of Minneapolis, for safekeeping.
Adopted by the City Council February 4, 1980
62) (41
Mayor
,Attest:
-/
— d.470/mc.2.4,„/
City Clerk
•evie ed for adm istration: Approved as to form and legality:
Manag City At brney