HomeMy WebLinkAbout87-217 - ADMIN Resolution - City Council - 1987/12/21L
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RESOLUTION NO. 87-217
RESOLUTION APPROVING SECURITIES FOR COLLATERAL
FROM PARK NATIONAL BANK, ST. LOUIS PARK, MINN.
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, 7.875, due 5-15-1990
377,623.81 GNMA Pool 111309, 6.5%, due 5-15-2002
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.
Attest:
Reviewed for Administration:
City Manager 8uvi-v\i")-641(
Adopted by the City Council December 31, 1987
May
Approved as to form and execution: