HomeMy WebLinkAbout86-100 - ADMIN Resolution - City Council - 1986/07/07 (2)July 7, 1986
RESOLUTION NO. 86-100
RESOLUTION APPROVING SECURITIES FOR COLLATERAL FROM
SHELARD NATIONAL BANK, ST. LOUIS PARK, MINNESOTA
WHEREAS, the Shelard National Bank of St. Louis Park, a City depository
has presented the following additional securities totaling $300,000 as
collateral to secure deposits of the City:
100,000 Hamilton Co., Ohio Sewer System Bonds, 7.375%, due 12-01-06
100,000 Palm Beach, Fla., S.D. GO Bonds, 7.50%, due 4-01-01
100,000 Mount Vernon High School Bldg. Bonds, 7.50%, due 7-01-03
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.
Reviewed for Administration:
1M M C ( • &WAJ /y'
ty Manager C'
Adopted by the City Council July 7, 1986
Approved as to form and legality:
City Attorney