275041 WHITE - CITV CLERK
PINK - FINANCE GITY OF SAINT PAITL Council 1
CANARV - DEPARTMENT File NO.�����
BLUE - MAYOR
Council Resolution
Presented By
Referred To Committee: Date
Out of Committee By Date
RESOLVED, That the following securities
� $300,000 U. S. Treasury Bills, due April 23, 1981
pledged as collateral to protect deposits of public funds of the City of
Saint Paul with Summnit National Bank of Ssint Paul, hereby is authorized,
raCified and approved, such having been done in conformance with the
applicable statutes of the State of Minnesota.
���JNCILMEN Requested by Department of:
Yeas Levine �ays �
M�d�ox Finance and M t. Services - T easur Division
� In Favor
McMahon
Showaiter __ A gai n s t BY —
Tedesco
Wilson
Adopted by� Council: Date — � �` � Form Approved y it ttor y �
Certified a_s by Counc , cre BY
, By. �����
� �i1N 11 i980 Approved May r�for to Council
Approved 'Vlavor: Dat — � _
c "
BY - — BY
lt1�USHEU JU N 21 i980
Ql�i Ol: 12/1975
.�-. ,`�, ` Rev.: 918J76
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EXP'LANATION OR ADMINISTRATIVB OR1}ERS,
RESt3E.UTIONS, AND ORDINANCES
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�'tECE1VED 2 �
Date: ` t�ay 22, 1980 M�Y 2�80
_ �,�.� � ,� �
T0: MAYUR GEORGE LATI34ER �'
.. . . .. . Rf�EIVEt� �.
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FR: Ga�ty �t. '�oratres, Dept. "of Finsnce � Mgmt. Services �
�: cov�ca. xBSC�v�oxs erpgc�vixc ca�.aTE�. MAY � $� �
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� R E C E I V E D CI TY ATfiORN�� �
: MAY 2 �s�;f�� .
�YOa�s oFFrc� �
AC1'�l0�1 REQUESTED• ,
Th� gaasage of the attsched resolutions approves the :ea�ritt�s pledg�d .
by the d�eigasted banks to. protect funda of the City of Saint Pa�1 While ;
� �eld in said bank.
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PURPaSE AND RATIt?NALE FOR THIS ACTION: �"
IiSA 118 requires collat�ral to psotect public fuads and sets out a ps�ocsd�re
to be follo�ed in the handling of said aollateral incladiag the r.egu�rs�eut
of spprovsl by the governing body. _
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AITACI�EN'�S: , �
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Proposed Coua�i,I Re�oluCioae. �
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