HomeMy WebLinkAbout6517 - ADMIN Resolution - City Council - 1980/03/24MARCH 24, 1980
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RESOLUTION NO. 6517
RESOLUTION REDESIGNATING DEPOSITORY FOR
CITY FUNDS
BE IT RESOLVED by the City Council of the City of
St. Louis Park that the First National Bank of Hopkins,
Hopkins, 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 from $2.5 million to $3.5 million.
BE IT FURTHER RESOLVED that the First National Bank
of Hopkins deposit with the First National Bank and the
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 March 24, 1980.
'Reviewed for administ'ration: Approve • as to form and legality:
ity\,Manager
City A'ftorney