HomeMy WebLinkAbout87-213 - ADMIN Resolution - City Council - 1987/12/21r
December 21, 1987
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RESOLUTION NO. 87-213
RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM SHELARD NATIONAL BANK, ST. LOUIS PARK, MINN.
WHEREAS, the Shelard National Bank of St. Louis Park, a City depository,
has presented the following collateral to secure deposits of the City:
$ 1,000,000 FNMA, 7.35%, due 8-30-1988
65,000 Adams County, Co., Multi Cnty SGL, 8.80%, due 12-01-1997
100,000 State of Louisiana GO Bond, 7.375%, due 5-01-2003
100,000 Mantiowok'County,Wi. GO, 6.90%, due 10-01-2000
100,000 City of Mpls, Mn. Convention Ctr., 7.60%, due 10-01-2000
100,000 Mohawk School Dis., Lawrence Co., 8.00%, due 3-01-2003
100,000 New Hope, Mn. GO Tax Incr. 86 Mn., 7.50%, due 2-01-2003
100,000 ISD No. 345 GO School, 9.90%, due 4-01-2002
100,000 Philadelphia, Pa., Wtr Swt Hth, 8.80%, due 12-01-1999
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 December 21, 1987
1L,4A/
Mayor
Attest:
Reviewed for Administration:
Approved as to form and execution:
City Atpney