HomeMy WebLinkAbout84-122 - ADMIN Resolution - City Council - 1984/08/06August 6, 1984
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RESOLUTION NO. 84-122
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 $1,000,000 as
collateral to secure deposits of the City:
$1,000,000 10.40 FNSM 88C Notes, 10.407,, due 3/10/88
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 August 6, 1!984
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Reviewed for Administration: Approved as to form and legality:
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C'ty Manager City AtCorney