269878 WHITE - CITV CLERt( p � � '
PINK - FINAfyCE � GITY OF .SAINT PAUL Council .����� ,� �
GANARV - DEPARTMENT �
BLUE - MAYOR File NO.
� Council Resolution
Presented By � `�
Referred To Committee: Date
Out of Committee By Date
RESOLVED, That the following securities
$600,000 4.75� St. Paul Port Authority, MN
Ref. Rev. Bonds, Series E, due December 1, 1978
pledged as collateral to protect deposits of public funds of the City of �
Saint Paul with the First National Bank of Saint Paul, hereby is authori�ed,
ratified and approved, such having been done in conformance with the
applicable statutes of the State of Minnesota.
COUIVCILMEN Requested by Department of:
Yeas Nays
Butler , Finance nd t. rvices - Treasu Division
---��,,. In Favor
Hunt U
Levine _ __ Against BY
Roedler
Sylvester � 1977
Tedesco ��j
Adopted b uncil: Date — Form Approved by i At y
Cert ed Pass Coun ,ecretary' BY
o�T '
Approved Mav r Date a Approv ayor for Submis i n Council .
By BY �✓.� ``
�����;���.s� ��T 151977
OM Ol: 12/1975 �'"--\ "'
����'�e��ev.; 9/$176 ��.�
r. �.
EXPLANATION .OF ADMINISTRATIVE ORDERS, '
RESO�I.t3TI0NS, AND ORDINANCES
R CEIV � �
-5EP ��
Date: September 16, 1977 AjjORi�l€Y
T�: MAYOR GEORGE I.ATIl�R
FR: Gary R. No�strem, Dept. of Finance � Mr�mt. Services /��
RE: CDUNCIL RESOLUTION APPRO�VING COLLATERAL �
gE. _ EiVED
SE 2��► 1977 .
AcrY� x��ss�D: . �IAA 'S �
The passage of the atteched resolution approves the securitias pledged
bq the designated bank to protect fund8 of the Citq of Ssiat Paul while '
held in said bank.
PURPOSE AND RATIONALE FOR THIS ACTION:
MSA 118 requires collateral to protect public funds and seCs out a procedure
to be follow�ed in the handling of said collsteral including the rcquir�nent
of approval by the gonerning body.
ATFACHMENTS•
• Proposed Council Besolution.