256041 I ORIOINAL TO CITY CL6RK CITY OF ST. PAUL �UNCIL �O. 255�41
OFFICE OF THE CITY CLERK
.
OUN L RE OLUTION—GENERAL FORM
PRESENTED BY
COMMISSIONE ATF
WF�REAS, Council File No. 228g40, approved June 3, 1g66,
designated Northwestern National Bank of St. Paul as a depository
for receiving and holding funds and moneys of said city, fixing
the sum of �450,000 as the maximum amount to be deposited in
said bank and establishing the sum of �500,000 as collateral
to secure these funds and moneys ; and
WHEREAS, the Sinking Fund Committee , at a meeting held
on Septem ber 1, 1971, took action to reduce the maximum deposit
at Northwestern National Bank of St. Paul from �450,000 to
�180�000 and required eollateral from �500,000 to �200,000,
and further approved the release of �300�000 of the original
�500 000 in securities to l�orthwestern National Bank, retain-
ing �200,000 U. S. Treasury Notes, Series F-?2, 6�, due
Novem ber 15, 1972 as collateral to secu re sueh funds and
moneys,
Now, Therefore , be it
. RESOLVED, that the prior reso lution of this Counc il,
� �, Council File No. 228940, approved June 3, �966, be and the
�a � same he reby is amended in the fo llowing particulars : that
�. � the maximum deposit of moneys of the City of Saint Paul in
c� D Northwestern National Bank of St. Paul is decreased from
° b �450,000 to �180,000, and the required collateral security
� � for such deposit is decreased from �500,000 to �200, 000;
� � and be it
� ' v FURTHER RESOLVED, that all other terms, provisions and
� conditions of said resolution shall co ntinue in full force
�, and effect; and be it
FURTHER RESOLVED, that the Council approves the release
of �300, 000 of the original �500,000 in securities to
Northwestern National Bank c�f St. Paul, Min:nesota, and that
the remaining �200,000 in U. S. Treasury Notes, Serie s F-72,
6�, due November 15, 1972, shall be retained as collateral
to secure the funds and moneys of the City on deposit with .
said Bank. OCT 15 19��_
COUNCILMEN Adopted by the Council
Yeaa Naya
� Butler O�T � 5 �S71
�• C�'r-�z-�.��-� APP 19—
�
�� � Tn Favor
Meredith
Sprafka `J yor
A gaivat ,
T�e�esco--- � y
Mr. President, McCarty �UBUSHED �T � ��`�
� - ���
ou�ucwn ro Nnw�me
2�s���
� CITY OF ST. PAUL ��� NO
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION—GENERAL FORM
C'AMM��ONC-�! °A'�'O
W�BEAS, Couno il File No. St28940, approved Jnne 3, i966,
desianated Northweatern. National Baak oi St. Paul a• a depoaitory
ior reoeiving �nd holdia� iund� and soneya o� said city� lixing
the sns oi �454,000 as the aazi�u� arount to be deposited 1n
said bank and establishing tbe su■ oi ��00,000 as oollateral
to eeoure theae iunds and aonepsf aad
XHERLAS� the 3lnking Fnn�d Coneittes, at s sesting held
on Saptesaber i, 1971, took aetion to reduoe the naYieu� deposit
et NorthMas�arn National Bank oi St. Ptul Yro■ ��t�0��00 to
�180,000 a� r+equired oollateral Sron �g00�000 to ��00�000�
and turther approved the releaee oi �300,000 oi the original
��00 000 in seQUrities to NorthMertern lYat ional Baak� retain—
ing �200,000 II. S. Treasury Notes, Ser ies Fr72, 6'�, due
November ly, I97Q sd oollatarel to sec�ure auch iunds and
moneys,
Now, Tharetore, be it
8E80LYED, that the prior rosolntion oi th3s CouUOil�
Connvil File No. 228940, approved Jnne 3, i966, be aad th�
�a0e l�reby is aaended in the iolloNing partieular�r: that
the sazi�uv depoeit o� voneys oi the City of 3aiat Paul in
NorthMSStern ATational Banlc oi St. Paul is deoret�sed iros
�450,000 to �180�000� and the required oollateral seourity
Yor suoh deporit is deoreased iro■ ��00,000 to �200�000;
and be it
FIIBTHEA BESOLVED, that all other terms� provie ions and
oonditions oi eaid re�olution •hall oo ntinue in =ull loroe
and eifeot; +e�nd be it . �
FIIRTSEft SESOLVED, that tt�e Counoil approves the release
oi $300,000 0! the original �500,000 in eeourities to
Northwestern National Bank d St. Paul� Minnesota, and �hat
the re�aining �200,000 in II. S. Treaaury Notes, Serie a F-72,
6�� due Novenber 15, 1972� �hall be retained as oollnteral
to �eoure the Yunde and moneys of the City on depae it with
said . Adopted by the Council ocT i 5197i�g_
COUNCILME�
Yeas Naya
But,�er O��T 15197�
ar on ��-�-`�`-�- Approv� 19—
� ��Tn Favor
Meredith
Spra,fka �� ��
Ag�'Lt
Tede�tcv-
Mr. President, McCarty
��