278714 WHITE - CITY CLERK � (/'1��(„�
PINK - FINANCE fi �.J ! i
CANARY - DEPARTMENT COURCII
BLUE - MAYOR GITY OF SAINT PAUL File NO.
o ncil Resolution
Presented By �
Referred To Committee: Date
Out of Committee By Date
RESOLVED, That the following securities
$100,000 U. S. Treasury Notes, 7.25°�6,
due February 15, 1984
pledged as collateral to protect deposits of public funds of the
City of Saint Paul with Summit National Bank, St. Paul, hereby
ia authorized, ratffied and approved, such having been done in
conformance with the applicable atatutes of the State of Minnesota.
COUNCILMEN Requested by Department of:
Yeas Nays
H�nc Finan and M mt. Services - Treasury Division
Levine [n Favor
-�Aeddsx
�o1Cb18h°w- � B
snowa�ter __ Against
"Ttdesee
Wilso�
Adopted by Council: Date —
MAY 2 p �gg2 Form Ap r ved by City At rne
Certified Y•ss d b Cou .il ret BY
�
B �
Ap d by ;Vlavor. �1 f��2 Appro by or r Sub ' o Counci
B _ — BY
_ i�UBLISHED �'AY � 9 19�
, � DEPARTMENT: Finance - Treasurv
• , CONTACT: Gary Norstrem
ROUTING ar�n D(PLANATI�N SHEET PHONE: 7016
GREEN SHEET
For Admiaistrative Orders, Resolutions, Ordinaaces aad Agreements ��"�-+��
ROUTING ORDER - ROUTE BY ASSIGNED NUMSER: RECEIVED
DIRECTOR OF AGEMENT MAY 1 3 ''�p2
� YoR MAYORS OFFICE
DEPARTMENT DIRECTOR DIRECTO , FINA CE & MGT� SERVICES
�� CITY ATTORNEY . � CITY CLERK .
3UDGET DIRECTOR �
ACTION RE9U STED �C IP A O ATiONS FOR MAYORAL SIGNAT�iRE);
The passage of the attached resolution approves the securities pledged by Summit National
Banlc, St. Paul, to protect funds of the City of Ssint Paul while held in said Bank.
I�IHAT NIL( BE ACHIEVEO BY TAKiNG ACTiON ON THE AT?ACHED MATERIALS �PURPOSE AND RATIaNALE)�,
MSA 118 requires collateral to protect public'funds and sets out a procedure to be
follow�ed in the handling of said collateral including the requirement of approval
by the governing body. �
FtPlANCIAL. BLID[ETARY AND PERSONNEL IMPACTS ANTICI?ATE�; -�
None.
- - � - --.. .__
ATTACHMENTS �LIST ALl ATTACHMENTS): �
1. �Proposed Council Resolution.
2.
3.
eaae �.ev.c¢w neceaa.�ty oa en.t o e Do 'aw<ng auppotiLcng cumenW
ytpan,�ne�r,t . . . Gi,ty A.ttonneu:
J. Counc.i.L, ReeoEu�ti.on Reqwined? YES NO 1. Reao.Zu,L�on? YES NO
2. Inaunaru.e R¢q;�i�edP YES NO 2. Ineunance SuS6.i.c,i.en.t? YES NO
3. Inaunanct A�tached? yES .NO
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