HomeMy WebLinkAbout6653 - ADMIN Resolution - City Council - 1980/09/15September 15, 1980
8d
RESOLUTION NO.
6653
RESOLUTION APPROVING SECURITIES FOR
COLLATERAL FROM AMERICANA STATE BANK
OF EDINA, EDINA, MINNESOTA
WHEREAS, the Americana State Bank of Edina, a City depository,
has presented as collateral $1,905,000 as follows:
$500,000 Federal Farm Credit Bonds, 12.8%, due 10-1-80
$500,000 Federal Farm Credit Bonds, 15.35%, due 12-1-80
$250,000 U.S. Treasury Notes, 11.125%, due 8-31-82
$200,000 U.S. Treasury Notes, 6.125%, due 2-15-82
$250,000 Federal Land Banks, 7.25%, due 7-20-87
$105,000 State of Virginia, Hsg. Dev. Assoc., 6%, due 10-1-94
$100,000 Minnetrista, MN, G.O. Bonds, 6.4%, due 2-1-90
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 Northwestern National Bank
of Minneapolis, -Minnesota, for safekeeping.
Adopted by the City Council, September 15, 1980
Attest:
ity C erk '1(157dfrx4414''L--
Reviewed for administration:
EaA(mA,L4
ity Manager
Approved as to form and legality:
City A