85-1124 WHITE - CITV CLERK
PINK - FINANCE C I TY OF SA I NT PAU L Council ++ !
CANARV - DEPARTMENT vv �
BLUE - MAVOR File NO• � �/�
�
Council Resolution
Presented By
Referred To Committee: Date
Out of Comm�ttee By Date
RESOLVED, that the fol owing securities:
$100,000 United S ates Treasury Notes 8.25% due 5/15/88
pledged a collateral o protect deposits of public funds of
the City f Saint Paul with Exchange Bank of Saint Paul, hereby
is author'zed, ratifie , and approved, such having been dnne in
conforman e with the a plicable statutes of the State of Minnesota.
COUIVC[LME[V Requested by Department of:
Yeas So�nnen Nays
Drew Finance and Mana e t Services
Masanz
[n Favor
�IleesiY
scneibei __ Against
Tedesco
Wilson
Adopted by Council: Date AUG 2 0 1985 Form App v d ity A orney
Certified Pas e b uncil S tar BY
By
� AUG 2 � 1985 Approv by Mayor for Subm si n to Council
t�ppr y iNavor: ate
By By
; .
PUBLISHED AU G 31 1985
Finance and M nt Service DE PARTMENT ������� NO 16 4 0
Shirley D'avis CONTACT
292-7038 PHONE
Ju1y 30, 1985 DATE �e�� e�
ASSIGN NUMBER FOR OUTING ORDE Cli All Locations for Si nature : '
Department Dir ctor 3 Director of Management/Mayor
� Finance and Ma agement Ser ices Director 4 City Clerk
Budget Directo
� City Attorney E
WHAT WILL BE ACHIE ED BY TAKIN ACTION ON THE ATTACHED MATERIALS? (Purpose/ �E�VED
Rational e) : AUG
The passage of t e attached esolution approves securities pledged by `5 19�
Exchange Bank of St. Paul to protect funds of the City of Saint Paul while C'� n��OD�
held in said ban . ri �Z �
MSA 118 requires collateral o protect public funds and sets out a procedure to
be followed in t e handling f said collateral including the requirement of approval by
the governing bo y.
COST/BENEFIT, BUD TARY AND PE ONNEL IMPACTS ANTICIPATED: _ RECEIVED ,,,.
AU G 5 1985
NOne �C�1 l/'G►�
�'S' OFFICE OF THE DIRECTOR
��� � 6 �98� DEPARTMENT OF FMANCE
AND MANAGEMENT SERVICES
AYGR'S ��FICE
FINANCING SOURCE ND BUDGET AC IVITY NUMBER CHARGED OR CREDITED: (Mayor's signa-
ture not re-
Total Amount o Transactio : quired if under
$10,00Q)
Funding Source
Activity Numbe : None
ATTACHMENTS List and Number 11 Attachments :
Proposed Counci Resolution.
DEPARTMENT REUIEW CITY ATTORNEY REVIEW
x Yes No Cou cil Resolut on Required? Resolution Required? Yes No
Yes No Insurance Requi ed? Insurance Sufficient? Yes No
Yes No In urance Attac ed:
(SEE REVERSE SIDE FOR INSTRUCTIONS)
Revised 12/84