273971 WHITE - CITV CLERK ������
PINK � - FINANCE G I TY OF SA I NT PA U L Council
CANARV - DEPARTMENT File NO.
BLUE - MAVOR
Council Resolution
�
Presented By
Referred To Committee: Date
Out of Committee By Date
RESOLVED, That the following securities
$1,000,000 9.75% U. S. Treasury Notes, due April 29, 1980
pledged as collateral to protect deposits of public funds of the City of Saint
Paul with Northw�estern National Bank of Saint Paul, hereby is authorized, ratified
and approved, such having been done in conformance with the applicable statutes
of the State of Minnesota.
COUNCILMEN �
Yeas McMAHON Nays Requested by Department oE:
� Fina and t Services-Treas D vision
„�,�e� [n Favor
Hunt
Levine _ � __ Against
Maddox
Showalter
TedeSCO Form Approved b City Atto ey
Adopted by Council: Date �� � �
Certified Pa- Council retary�� BY
B}, 1..�
l�pp hy EVlavor: Da e • ���� 6 1979 Appr y Mayor for Su s on to'Council
By — BY
Ptt�ust�Et� N OV 101979
� �� or� oi: �2ri9�s
�:
� 918/��
� RBV.:
� ,�
� ����� '
EXPLANATION OF A INISTRAT�VE ORDERS,
x�scn,urzo�vs rm o�n�ru�rrc�s RECEIVEp
. . . .. �� f . . . . . . . .
.. , . . . �. �i. . � �. " ' O�� � � ���� . .. ..
. . . .. � f' . . .
�`
� CI TY p� ��Kri��
bate: : Qctober 23, 1979 i _ CY
. � E� -
T0: MAYOR GEORGE LATIMER �K-� i�^�`� �` _
_ �
�g; . Garp $. Norstrem, Dept. of Finane� Kgnt. Servt+ces
,
i.
RE; COUNC3L RLSOI.tTrION APPR�bVING CORi�LA Bl�L
s c-,�..�;�xy�
;� : : .oc�-a5 ��..
i; ; h.+,�iu��s �r;�.�` :
�:
r
ACTION REQULSTED•
�:
_ �
- Th� passage of the a�tached resbl�t on spproves the aecurities �ledged
� : by the d�signatesd b�ak to prote�t ` da of th� City o€ Saint Pae�l trhile .
held in eaid bank.
� _
;=
. �
�
: .
. `
=P�itPEhBE AND RATIONALE FOR THIS ACTION: �
,
f
MSA 11� requir�� collateral to �ro ct pablic funds and sets out a proctdnrs
to be follc�ed in the handling pf id colTat�ral iacludiug the require�ent
: of approva}� by the governing body. �;
. �:
, �
� �.. . . . . . . . � . . . � . ,. y,: . . _ . . .. . . .
. . . .. . .. . .. � �, ��. . . . . . . . . . . . ..
. � . - . � � �.'� . . . . � . . � . . � . . . .
, . . ' � .. � 4�.. . . .
A1TAC��1'!'S:
Prapoaed �Cou�ncil Resolution. ``
t�
�,
� . � ' � �';. � � � � �
�
�
� , .
f;
„
- �
,,
� r
_ ;; ,
. . .. . , - . .. \. . . . .. .: k, . � � �- .. � � �. . . . . . .