HomeMy WebLinkAbout6800 - ADMIN Resolution - City Council - 1981/04/06April 6, 1981
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RESOLUTION N0. 6800
RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM AMERICANA STATE BANK OF EDINA, EDINA, MINN.
WHEREAS , the Americana State Bank of Edina, a City depository, has
presented $700,000 as collateral securities described as follows:
$200,000 Federal Land Banks, 7.35%, due 10/20/83
$250,000 Federal Farm Credit Banks, 11.6% due 12/1/82
S 50,000 Honolulu City and County Municipal Bonds, 5.5% due 6/1/90
$100,000 Willmar, MN, Municipal Revenue Bonds, 7%, due 10/1/90
$100,000 South St. Paul, MN, Government Bonds, 5.6%, due 2/1/87
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
Rank of Minneapolis, Minnesota, for safekeeping.
Adopted by the City Council April 6, 1981
Cat fp, Y/2,12 ;LaAGJ
Mayor
Attest:
Reviewed for administration: Approved as to form and legality: