HomeMy WebLinkAbout86-81 - ADMIN Resolution - City Council - 1986/06/16L
June 16, 1986
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RESOLUTION NO. 86-R1
RESOLUTION APPROVING SECURITIES FOR COLLATERAL FROM
SHELARD NATIONAL BANK, ST. LOUIS PARK, MN.
WHEREAS, the Shelard National Bank of St. Louis Park, a City depository
has presented the following additional securities totaling $150,000 as
collateral to secure deposits of the City:
$150,000 St. Paul, Mn. Hm. Ownership Mtg., 6.10%, due 4-01-90
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.
Adopted by the City Council June 16, 1986
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Attest:
Reviewed for Administration:
Approved as to form and legality:
City Attorney