HomeMy WebLinkAbout7078 - ADMIN Resolution - City Council - 1982/03/01March 1, 1982
7d
RESOLUTION NO. 7078
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 securities as
collateral to secure deposits of the City:
$100,000 Kentucky Housing Corp. - Series A - 12.25%, due 7-1-91
$100,000 South Dakota Bldg. Authority, 7.7%, due 7-1-83
$100,000 Mn. State Higher Ed. Coord. Bd. Rev. Bonds, 9.75%,
due 4-1-85
BE IT RESOLVED by the City Council of the City of St. Louis Park
that the Treasurer he 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 March 1, 1982
Attest:
Reviewed for Administration:
Mayor
Approved as to form and legality:
ity
torney