272500 WHITE - C�TV CLERK �����
PINK - FINANCE GITY OF SAINT PALTL Council ic„�
CANARY - DEPARTMENT
BLUE - MAVOR File NO•
,� . Council Resolution
Presented By �
Referred To Committee: Date
Out of Committee By Date
RESOLVED, That the following securities
$1,000,000 - 9.875% U. S. Treasury Notes, due December 31, 1980
pledged as collateral to protect deposits of public funds of the CiCy of Saint Paul
with American National Bank of Saint Pau1, hereby is authorized, ratified and
approved, such having been done in conformance with the applicable statutes of the
State of Minnesota.
COU[VCILMEN
Yeas Nays Requested by Department of:
Butler �_ In Favor Finan nd M Services - Trea r Division
Hozza �
Hunt , )
Levine _ " __ Against B �
Maddox
Showalter .�r�s
Tedesco � e h7��7 Form Approved by ty torney
Adopted b ouncil: Date ��
Cer ied Passe y Council Secretary� BY
�
, -
l�pprov d y IVlavor: Date � �EB 9 1979 Appr v Mayor r Sub i si n to Council
� � � �
By BY
�BCrsHEO FEB 1 ? 1979
, : ca� Q�.: - �z/���s
. Rev.t 91$/?6
: EXP'LAIiATION QF ,ADMINZSTRATIVE �RAER3, � �I�G�
RESOR.UTIONS, AND ORDiNANC�S �
� FtECEI`��°`,
, JAN 7 .
Date: Ja�nazy 29, 1979 � ,�AY ' - ,..w
, T�: MliYOR G�0&GE I.ATIMER �
FB: Ga R. l�orstrem De t. of: Finante � M at. ServiCe• L�
rY . P $
AR: COUNCTL RS30LUTION AF�ING COtiI,�1TERAL .
A�TZU� REQUESTED: .`
Th� pasa�ge o� the attached resolutioa approves the •ecuriti�s pledged
`� bq the d�aigaated.bank to protect fund� of the Citq-of Saint Paul vhfle
, hald im said bank. �
� . ,
Pt�P'QSB A1�ID RATIONALE FOR THIS ACT��N:
� ,......��...
I�lS�► 118 requires coilateral ftc� protect public fuuds snd sets out� s procedare
to be foll�red it� the handling of said collat�ral' inclvding the �quire�at
of sppxoval by the goverai�►g bc►dy.
A�TACI�I�TS: _
Propased Council �eaolution.