HomeMy WebLinkAbout84-90 - ADMIN Resolution - City Council - 1984/06/18Ll
June 18, 1984
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RESOLUTION NO. 84-90
RESOLUTION APPROVING SECURITIES FOR COLLATERAL FROM
SHEIARD NATIONAL BANK, ST. LOUIS PARK, N1\il.
WHEREAS, the Shelard National Bank of St. Louis Park, a City depository,
has presented the following additional securities totaling $500,000 as
collateral to secure deposits of the City:
$300,000 U.S. Treasury Notes , 15 7/8%, due 9/30/85
$100,000 Arlington Hts., IL. Mun. Bonds, 9.75%, due 12/15/2013
$100,000 North Slope, Alaska G.O. Bonds, 10.2%, due 6/30/94
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 First National Bank of
St. Paul, Minnesota, for safekeeping.
Attest:
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City Clerk
Reviewed for Administration:
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Adopted by the City Council June 18, 1984
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Approved as to form and legality:
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