HomeMy WebLinkAbout6663 - ADMIN Resolution - City Council - 1980/10/06October 6, 1980
8d.
RESOLUTION NO. 6663
RESOLUTION APPROVING SECURITIES FOR
COLLATERAL FROM AMERICANA STATE BANK
OF EDINA, EDINA, MINNESOTA, AND
REPEALING RESOLUTION NO. 6653
WHEREAS, the Americana State Bank of Edina, a City depository,
has presented the following collateral totalling S1,255,000:
$500,000 Federal Farm Credit Bonds, 15.35%, due 12-1-80
S200,000 U.S. Treasury Notes, 6.12r%, due 2-15-80
$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
S100,000 Federal home Loan Banks, 7.375%, due 2-25-85
BE IT RESOLVED by the City Council of the City of St. Louis Park
trat the Treasurer be authorized to dccept said securities as collateral
and that said collateral be deposited with the Northwestern National Bank
of Minneapolis, Minnesota, for safekeeping.
Attest:
BE IT FURTHER RESOLVED that Resolution No. 6653 be repealed.
SO:5440-fiY
ty Clerk
Reviewed for administration:
Adopted by the City Council, October 6, 1960
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Approved as to form and legality:
City Attorney