HomeMy WebLinkAbout6541 - ADMIN Resolution - City Council - 1980/04/21April 21, 1980
8d
RESOLUTION NO. 5547
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 Federal Farm Credit Banks, 17.00%, due 1-5-81
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 the
First National Bank of St. Paul, Minnesota for safekeeping.
Adopted by the City Council April 21, 1980.
AL
Mayor
Attest:
Reviewed for administration: Approved as to form and legality:
City Man, ger City 'ttorney