280603 WNITE - C�TV GLERK ����
PINK - FINANCE COUnC1I
CANARV - DEPARTMENT G I TY OF SA I NT PALT L �
BLUE - MAVOR �� `
, File N 0.
. ouncil Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
RESOLVED, that the following securities:
$100,000.00 Federal Farm Credit Banks 84K
dated 10-20-81 due 4-23-84 @ 15.50%
pledged as collateral to protect deposits of public funds of the
City of Saint Paul with Commercial State Bank, hereby is authorized
ratified and approved, such having been done in conformance with
the applicable statutes of the State of Minnesota.
COU[VCILMEN Requested by Department of:
Yeas p�etcher Nays
Finance and Managemen Ser "ces
Galies In Favor
Masanz
Nicosia r
sche�be� � __ Against BY
7edesco
Wilson
Adopted by Council: Date
JUL 1 2 1983 Form Ap ove i ttorn
Certified P s e Council cret BY
By �
t�ppr ve by 1�lavor: e JU� � � 1983 ppro b yo for S ' n to C ncil
I"
B �
Y �
PUBLISNED J U L I � �3
Finance - Treasur EPARTI•1ENT ' �S� ��'""
Gary Norstrem —�'ONTACT .
292-7016 PHONE � � � '
June 21, 1983 DATE r �/�
(Routing and Explanation Sheet)
D
Assign Number for Routing Order (Clip All Locations for Mayoral Signature):
JUN 23 1983
� Department Di rector CITY ATTORN
City Attorney �
t/�.vor -- RECEIVEp
Fi nance and Management Servi ces Di rector ���� _ �^. --
4 Ci ty C1 erk 2 ' � � '
OF�t�� �.A r �
Budget Director DE�ar�i:'.��'rv�` Gr�,`��c�-oR
AND 1vIqNAGEh�ENT F�NqN�E
SER��CES
iJhat Will be Achieved by Taking Action on the Attached Materials? (Purpose/Rationale):
The passage Qf the attached resolution approves the securities pledged by
Commercial State Bank, to protect funds of the City of Saint Paul while
held in said bank.
MSA 118 requires collateral to protect public funds and sets out a procedure
to be followed in the handling of said collateral including the requirement
of approval by the governing body.
Financial , Budgetary and Personnel I�acts Anticipated:
No�. � R�
a
Funding Source and Fund Activity Number Charged or Credited: �JU N 2 8�83
NONE. GOUNCILMAN
JAMES SCHEIBEL
Attachments (List and Number all Attachments) :
1. Proposed Council Resolution.
DEPARTMENT REVIEW . CITY ATTORNEY REVIEW
X Yes No Council Resolution Required? Resolution Required? Yes No
Yes R No Insurance Required? Insurance Sufficient? Yes No
Yes x No Insurance Attached? ,
Revision of October, 1982
(See Reverse Side for �instructions)