HomeMy WebLinkAbout88-33 - ADMIN Resolution - City Council - 1988/03/07M
March 7, 1988
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RESOLUTION NO.88-33
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:
$500,000.00 Federal Home Mortgage, 10.90%, due 3-30-1990
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 March 7, 1988
Attest:
Reviewed for Administration:
Approved as to form and execution: