253470 OR�61N:11L TO CiTY CL6RK �
2534'7�
" CITY OF ST. PAUL �uNCi� NO.
, � OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION—GENERAL FORM
�=.�
PRESENTED BY
COMMISSIONE ATF
WHEREAS Council File No. 231204, approved December 15,
ig66, designat Summit National Bank o.f St. Paul as a depository
of a portion of the moneys of the City of Saint Pau1 and fixed
a maximum amount for such deposits as well as required collateral
security therefor, which maximum deposits and required collateral
security were amended by Council File No. 245876, approved October
8, i969, and Council File No. 24984g, approved July 24, 1970; and
WHEREAS, The Sinking Fund Committee , at a meeting held on
March 16, 1971, took action to increase the maximum deposit and
required collaterai to �725,000 and �800,000 respectively,
NOW� THEREFORF�, BE IT RESOLVED, That the prior resolutions
of this Council , Council File No. 231204, approved Deeember 15,
i966, Council File No. 24�876, approved October 8, i969, and
Council File No. 24984g, approved July 24, 1970, be an.d the same are
hereby amended in the following particulars : that the maximum
deposit of moneys of the City of Saint Paul in the Summit �Tational
Bank of Saint Paul is increased from �300,000 to �725�000� and the
required collateral security for such deposit is increased from
�400,000 to �800,000; and be it
RESOLVED FURTHER� That all other terms, condi'�ions and
– provisions of said Resolution� Council File No. 231244� shall
continue i�_ �ull _f6ree and ;e-��e_e�, _��,be--i� -
RESOLVED FURTHER, That this Resolution shall become
effective upon publication and upon delivery to the Commissioner �
of Finance of a receipt from the Federal Reserve Bank evidencing
a deposit of collateral security as provided by this Resolution.
FO M APPROVED
.
Asst. Corporation Cou
COUNCILMEN Adopted by the Council APR � �97'�19—
Yeas Naya .
��' Ap APR 7197�1 ,19-
Carlson �
�
Levine _ln Favor
Meredith
Sprafka � r
Tedesco ASainst
Mr. President, McCarty Q 191�
p!()BLISH�
APR 1
�
� 2534�0
nurucwrs�ro nnNts�t
� CITY OF ST. PAUL �uNa� NO. --
- OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION—GENERAL FORM \
n�ese�rr�er
COI�AMISSIONER �A*F
i�BEAS, Council File No. 231504, approoed D�oeaber ts,
i96G, designated Su�it Nationsl Bank o! St. Paul ae a depository
o! a portion of the moneys of the City of 9eint Paul and iixed
a �esaimum amount for euch deposite as xell as required oollateral
seourity there=or, whioh ma�cimum depoeits and required oollatsral
seourity were e�sended by Counoil File No. 245876, approved Ootober
8, i969, snd Counoil File No. 249649� approved July 24, t970; and
�REA3, The 3lnking Fun�d Co�uittee, at a oseting held oa
March 16, 1971, tpok aotion to inorease tbe aasiau0 deposit and
required aollateral to �7a5,440 an� �800,000 respeotively,
NOw, THEAE�FOA�$, HE IT xE80LVED, That tha prior reaolutione
oi thie Counoil� Counoil File No. 2�1204, approved Deoeobsr 15,
i966, Counoil File No. 24�8�6, approvod Ootober 8, 1969, aad
Counoil File No. 249849, approved July 24, 19'�O, be and the saoe are
hereby e�ended ia the folZoNiu6 partioularss_ ,. that' the nasiouet
deposit oi �oneys o� the City oi Seint Paul"`�in the Suanit Nstional
Bank o! Saint Paul is inoressed lro� �300,000 to �725,000� and the
reqnired oollateral •eourity ior suoh d`eposit is inoreased lrom
�400,000 to �800,000; aad be it �""�'
, ,.
RE30LVED F[TxTHER, That all other ter�e, conditions and
proviaione o! �aid Be.olutieff� Couaoil Flle No. 23i204, ahall
oontiaue in �ull foroe aad eiiect; and be it
SSSOLVED FURTHER� That th 1r Se�olution shall be000e
e�ieotiv� upon publiostion and upoa delivery to �he Coai��ioner
ot Fi,aaaoa oi a reoeipt iro■ the Federal R��ervs Bank evideavina
a depoait oi oollatersl seourity as provlded by this Resolution.
COUNCILMEN
Adopted by the Co»*+ci� APR `l �g�1g—
Yeas Nays
� A �APR 71lT�1 �e-
caxlson �°
�°�e Tn Favor
Meredith
Sprafka ��r
t
Tedesco
Mr. Presiden.t, McCarty
\ °��