HomeMy WebLinkAbout7050 - ADMIN Resolution - City Council - 1982/01/18January 18, 1982
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RESOLUTION NO. 7050
RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM PARK NATIONAL BANK, ST. LOUIS PARK, MN.
WHEREAS, the Park National Bank of St. Louis Park, a City depository,
has presented the following additional securities totaling $1,500,000
as collateral to secure deposits of the City:
$100,000 Eagan, Mn. single family Mortgage Revenue Bonds, 10% due 5/1/99
$100,000 Eagan, Mn, 10.27 due 2/1/87
$100,000 Brooklyn Park, Mn. 9.25% due 8/1/84
$200,000 Sbux City, Ia. IA IDR Advanced Industrial Bonds, 10% due 9/1/84
$100,000 Muscatine, Ia. IA Electric Revenue Bonds, 11.25% due 1/1/94
$100,000 New Berlin, Wi. 12.50% due 12/1/85
$100,000 Oregon State G. 0., 11.75% due 2/1/92
$100,000 St. Paul Port Authority, Series 1981, 10.50% due 10/1/84
$100,000 Stillwater, Mn. G. 0. Temporary Improvement Bonds, 10% due 11/1/84
$200,000 Garden City, Ks. Pollution Control Bonds, 10.625% due 10/1/84
$100,000 Rhode Island Housing and Mortgage Finance Corp., 8%, due 4/1/84
$100,000 Virginia HDA, 9.35% due 12/12/83
$100,000 Nebraska Higher Education Loan Project, Inc. Student Loan Program
8.5% due 3/1/84.
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 Federal Reserve Bank of
Minneapolis, Minnesota, for safekeeping.
Adopted by the City Council January 18, 1982
Attest:
Reviewed for Administration:
Approved as to form and legality:
4( W/- N4A-6,2-civv
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