278715 WHITE - CITY CLERK 2`�8"�15
PINK - FINANCE
CANARY - DEPARTMENT G I TY O F SA I NT ��U L COUIICII
BLUE - MAYOR
File N .
cil Resolution
Presented By `
Referred To Committee: Date
Out of Committee By Date
RESO�.,VED, That the following aecurities
$150,000 New Jersey Sp. and Exp. Auth. General
Obligation Bonds, 5.50�, due
January 1, 1991
$ 90,000 Moorhead, l�i G.O. Improvement Bonds,
4.75%, due April 1, 1987
$150,000 Minneapolis, lYIN Special School DistricC
#1 Bonds, 6.20%, due February 1, 1991
$ 75,000 Baltimore, Maryland Public Improvement
Bonds, 5.2a'ti, due October 15, 1988
pledged as collateral to protect deposits of public funds of the
City of Saint Paul with First Grand Avenue State Bank, St. Paul,
hereby is authorized, ratified and approved, auch haning been
done in conforn►ance with the applicable statutes of the State of
Minnesota.
COUNC[LME[V Requestgd by Department of:
Yeas Nays
Hunt Finance and M t. Services - Treasu Division
�evine In Favor
"9Aadde+� �
�;�i�; � __ Against BY ` — ``
�
Wilson
MAY 2 0 198Z Form A r ved by City Attorney
Adopted by Council: Date _
CertifiE:d a: • b Cou .� Se BY
1
Appr v d by 1�avor: e M� 2 5 19�7 App by or or Submi Cou cil
By _ _ By �
BIISHED M AY 2 9 1982�
, � � „ DEPARTMENT: Finance - Treasurv
� CON7ACT: Gary Norstrem �
ROUTING ayn EXPLANATION SNEEf PHONE: 7016 �
(GREEN SHEET)
�5
For Administrative Orders, Resolutions, Ordinances and Agreemeats ^� l ' /�n
r(
ROUTING ORDER - ROUTE BY ASSIGNED NUMBER: _ MqY 1 � �g�
DIRECT�R NA6EMENT �'��
MAYOR�! ATTORNEY
DEPARTMENT DIRECTOR � DIRECTO , F NANCE & MGT� SERVICES
� CITY ATTORNEY , � ��n � �RK R ECEIVED
3UDGET DIRECTOR � 2
ACTION R �U ST n ( _ tP a d ATIONS FOR MAYORAL SIGNATLRE): MAYORS OFFICE
The passage of the attached resolution apprones the sec�rities pledged by First Grand
Avenue State Bank, St. Paul, to protect funds of the City of Saint Paul while held in
said Bank.
J�IHAT NI t B ACHI V n BY TAKtN. A TtON ON TH ATTA -H � MAT RtA S �PIRPOSE :�Nl] RATiaNALE)7;
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.
FINAN -IA . B ID TARY AND P RSONN IMPA -TS ANITI -I?AT �; �
None. �
__ __ - - - - ----- _ ---- - -
ATTACHMENTS �LIS7 ALL ATTACHMENTS): �
1, � Proposed Council Resolution.
2.
3.
.
¢uae .tev.c¢w neceea.c,ty on ent o e o w�cng auppon.t.cng cwnents
De►��� : . C,c,ty A.ttonney:
1. Courtc.it. Reeo4.u,ti.on Rt.qwin¢d? f�S NO 1. R¢,eo.eu.ti.onY YES NO
2. InaurtanC¢ Req;a,v�edi yES NO 2. Inaunance Susb.i,ci.v�t.° YES NO
3. Ir.eu�rartce A.LtachedY yES .NO