HomeMy WebLinkAbout85-21 - ADMIN Resolution - City Council - 1985/02/19February 19, 1985
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RESOLUTION NO. 95
RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM PARK NATIONAL BANK, ST. LOUIS PARK, MINN.
l%'HEREAS, the Park National Bank of St. Louis Park, a City
depository, has presented the following collateral to secure
deposits of the City:
S500,000 Federal :National Mortgage Assn.,
11.2%, due 6-10-87
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 February 19, 1985
(s
Mayor
Attest:
(s)
Cit Clerk
Reviewed for Administration: Approved as to form and legality:
( (S) &Y-j.t._ `fes
t Manager City Atbbrney