HomeMy WebLinkAbout6906 - ADMIN Resolution - City Council - 1981/08/03August' 3, 1981
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RESOLUTION NO. 6906
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RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM PARK NATIONAL BANK, ST. LOUIS PARK, MINN.
WHEREAS, the Park National Bank of St. Louis Park, a City depository,
has presented the following collateral to secure depo'stts of the City:
$500,000 Federal Home Loan Banks, 9%, due 2-25-83
BE IT RESOLVED by the City Council of the City of St. Louisi Park that
the Treasurer be authorized to accept said securities as collateral
and that said collateral be,deposited with the Federal Reserve Bank
of Minneapolis, Minnesota, for safekeeping.
Attest:
i"ty4erk
Adopted 'by the City Council, August 3, 1981
Reviewed for Administration
Approved'as to form and legality: