HomeMy WebLinkAbout85-108 - ADMIN Resolution - City Council - 1985/07/15July 15, 1985
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RESOLUTION NO. 85-108
RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM PARK NATIONAL BANK, ST. LOUIS PARK, MINX.
WHEREAS, the Park National Bank of St. Louis Park, a City
depository, has presented the following collateral to secure
deposits of the City:
$1,000,000 U.S. Treasury Notes, 9 5/8%, due 6-30-89
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, July 15, 1985
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Mayor
Attest:
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Ci&6erk qaTj
Reviewed for Administration: Approved as to form and legality:
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C y Manager City Attorney