HomeMy WebLinkAbout7451 - ADMIN Resolution - City Council - 1983/08/151
RESOLUTION NO. 7451
August 15, 1983
8c
RESOLUTION INCREASING DESIGNATED MAXIMUM
AMOUNT TO BE KEPT IN DEPOSITORY
WHEREAS, the City Council has heretofore in Resolution No. 4866
designated the F & M Marquette National Bank, Minneapolis, Minnesota
as an official depository of the City with a maximum designated amount
to be kept there in the sum of $1,000,000 at any one time, and
WHEREAS, it is now determined that the City in the immediate
future will require the deposit of sums in excess thereof, therefore
BE IT RESOLVED by the City Council of the City of St. Louis Park
that the maximum amount designated to be kept in the F & M Marquette
National Bank of Minneapolis as an official designated depository of the
City be increased to $2,000,000 and the said depository be required to
deposit collateral in accordance with the requirements of law.
Adopted by the City Council August 15, 1983.
Attest:
A7„(11 /_
City Clerk
Reviewed for administration: Approved as to form and legality:
ty Manager
City Atforney