86-1437 ^ �c - L��♦ CIEFlK
PINK � FINANCE. � I TY OF SA I NT PALTL Council
CANARY - OEPARTMENT ' f,j`
f3�.UE - MAYOR File . NO. /
` � ounci esolution - - ----.
lR
Presented By V �`�
-_ ��
Ref red To Committee: Date
Out f Commi tee By Date
WHEREAS, Ga y R. N r�strem, Treasurer of the City of Saint Paul , h s served
the City iith gr at dis inction for twenty-six years; and
WHEREIAS, th City f Saint Paul has become a ieader in public fun ing
investment pract ces th ough Gary Norstrem's direction; and
WHERE�IS, Ga y Nars rem, through his productiv� iobbying efforts w th the
State Legi!slatur , has ecured state legislation which enabled the Cit to make
investments not Ilowed it in the past, leading to increased oppo�-tuni ies for
investment incom for City monies; and
WHERE�S, th ough G y Norstem's efforts in 1986 the City was the irst
government entit in Mi esota to issue General Obligation debt in boo entry
form, therjeby aliowing limination of costly manual paperwork pertinen to
issuing bo�ds, t us savi g 907. or more of the administrative costs of eht
issuance f r Sai Paul ; and
WHEREAS, Ga Norst em efficiently manages a current inves�anent rtfalio
for the Ci�y ave ging i excess of 100 miliion doliars; and
,
__ _. WHEREAS,. Ga Norst em_has for_man_y years succes�ful ��� �ed he
City's int�rests hroug his active participation in y" • Fi ance
Officers A�socia ion on th the state and nat�� -
WHEREAS, Ga Norst em has been both re ,o o atly by
CITY 8 STAfiE mag ine by being elected as "tr � m�
recognizin� the st in he public sector", nc n �0
,�7
RESOLVED, Th t the ouncil and the entire �'��� �� .�e Ga y
Norstrem fpr his rillia t efforts in managing C .,, and pres nt him
with this �lacque as a m ento of his services tc ..�ty, with grate ul
appreciatibn and hanks.
COUNCILMEN ' Requested by Department oE:
Yeas Drew Nays � �
t�itesia
Rettman In Favor
Scheibel �
son�e� Against BY
Tedesco
Wilson '
Adopted by Council: I Date OC 1 � 1988 Form Approved by City Attorney
Certified Pas e uncil Se ary By
By .
Approv b Mavor: Datle _ `– ��'j � ���� Approved by Mayor for Submission to C uncil
BY - — BY
_- PU 1SS�1ED CT 2 51986 �