HomeMy WebLinkAbout6871 - ADMIN Resolution - City Council - 1981/06/151
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June 15, 1981
8d
RESOLUTION NO. 6871
RESOLUTION AUTHORIZING THE RELEASE OF
SECURITIES AND APPROVAL OF SUBSTITUTED
SECURITIES OF MAROUETTE NATIONAL BANK
OF MINNEAPOLIS, PMINNESOTA
WHEREAS, the Marquette National Bank of Minneapolis, a duly
designated depository of the City, has requested the release of the
following securities:
$100,000 Wayne Cnty, MI, Peoples Comm. Hosp., 1974, 08%, due 7/1/81
which have heretofore been pledged as collateral security for the account
of the City with such depository, and
WHEREAS, the said depository has substituted and repledged for the
securities requested to be released as described above, the following
$100,000 Columbia Heights, MN, G.O. Bonds, 8%, due 3/1/88
by depositing the same with the Federal Reserve Bank of Minneapolis
for safekeeping, to be collateral security for the account of the City
with such depository, therefore,
BE IT RESOLVED by the City Council of the City of St. Louis Park,
that the City Treasurer is hereby authorized to release and return to
said depository the securities as requested, and that the securities
above listed as being substituted and repledged in the amount of $100,000
are hereby approved as collateral for the City account with the Marquette
National Bank of Minneapolis, Minnesota, and their deposit for safe-
keeping with the Federal Reserve Bank of Minneapolis as above mentioned
is hereby approved.
Attest:
II i ty Clerk
Reviewed for Administration:
dv-ei 01
Acf- AA-Ait-c-4-ecte'r
Adopted by the City Council June 15, 1981
C17441
Mayor
''ClAt41d
Approved as to form and legality:
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