244410 -1 244�10
OR161NAL TO CITY CLERK
A CITY OF ST. PAUL FOENCIL N�,.
OFFICE OF T E CITY CLERK
C �RESOL I N-GENE ORM
PRESENTED BY
COMMISSIONE
WHEREAS, The Sinking Fund Committee of the City of
int Paul has heretofore designated the Produce Exchange
Bank of Saint Paul as a depository for receiving and
holding �unds and moneys of said City and has fixed the
sum of Eighteen Thousand Dollars (�18, 000.00) as the
maximum amount to be deposited in said bank and has
requested the sum of Twenty Thousand Dollars (�20,000.00)
as collateral to secure such funds and moneys in accord—
an.ce with the requirements of applicable state statutes
and the Charter of the City of Saint Paul; now, therefore,
be it
RESOLVED, That the Council of the City of Saint Paul
hereby ratifies, adopts and approves the action of the
Sinking Fund Committee in designating the Produce Exchange
Ban.k of Saint Paul as a depository for receiving and
holding fun.ds and moneys of said City, and fixing the sum
of Eighteen Thousand Dollars (�18,000.00) as the maximum
to be deposited in said Bank, and establishing the sum of
Twenty Thousand Dollars (�20, 000.00) as collateral to
secure these funds and moneys, and said Council hereby
further ratifies, adopts and approves the action of its
Sin.king Fund Committee in approving the First National
Ban.k of Saint Paul as the custodian bank to hold such
securities for and on behalf of said City; be it
FURTHER RESOLVED, That the Council, upon receipt of a
properly executed Assignm�ent of Securities document from
said Produce Exchange Bank of Saint Paul, in form approved
by the Corporation Counsel, authorizes and directs the
proper City officers to execute, on behalf of said City,
the usual and customary Agreement for Safekeeping of Pledged
Securities between the said City and said Produce Exchange
Bank of Saint Paul and the First National Bank of Saint Paul
as designated custodian bank to hold such securities for and
on behalf of the City of Saint Paul, such agreement to be in
form approved by the Corporation Counse'1, all in accordance
with the provisions of applicable state statutes and the
Charter of the City of Saint Paul. ,��N � �. 1969
COUNCILMEN Adopted by the Council 19—
Yeas , Nays , �u� � � ����
Carlson P_ROVED /
,��_ � �� Approve 19—_
Meredith `-�t`Carporation Cou e)
Tn Favor
Peterson `
Sprafka ;� Mayor
Tedesco A gainst
Mr. President, Byrne
��t�sHEr J�UN 14 19G�
0
2����� �
DUPLICATE TO PRINTER ,
CITY OF ST. PAUL FOENCIL N�,. �
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION-GENERAL FORM
PRESENTED BY
COMMISSIONER DATF
WI3ER�A5, The Sinkfng Fund Committee o�' the City of
Saint Paul has hereto�ore designated the Produee Exehan$e
Bank of �aint Yau1 as a ctepository for receivix2g aazc�
holdixag �uxzc�s a�a.ci �noneys of saicl City t�ncl h€�s fixed the
sum o� Eigliteen Thousan.d. �allrars (�18,000.00) as the
maximum amount to be deposited in said banls and taas
requested tx�e su�n of Twenty Thousancl Dollar� (�20�OOO.OQ)
us coJLlateral �to secure such �'unds anc� �►oneys in aecorcl—
�ncQ tvit�i the rec�uirements of �.pplicable atate statutes
anc� the Ch�rter o�' the City of :��int Yaul; now, thEre�ore,
be it
s:��S�I,�:�a�4, That the Caunca,l r�f i;lze �ity of Saint i'aul
hereby x�ti.�ies, adapts and r�pproves t�e action o:C ��.e
:inkii�g F��c3. Ca�aa�aittee a.�. desib:ciating the Px�o�.�,�ee �;xehange
F3ank o� �ai�t�t �au�. as a dep�ository for rec�ivin�; anil
holdin� �i�a�cis anc� �uoneya o� s�ict Gity, an� :�ixing the sum
of �ighteen Thousanc� Dollars (w718,000.00) as the ma�i�um
to be depositec: in sa�cl }3ank� and est�blishia�� the sum of
T��enty T��aous��?rI Dollars (}Y20, OOO,OQ� as cc�l���teral to
secure those �unds a�.c� money�, ana �air� r�ouncil hereby
further ratii'ies, ac�opts ancE apZ�roves thc action o� it�
Sinkin,� ��uz�� �o�i�ttee in �pprovin� the I�'irst iVatio�al
�an1�z oJt Saiat Paul as tize custoc3a�,x�. ba�nli ts� �zold such
��_;e�,�r��ties �or a�ari on behalf o:£ �aiei Ci�ty; i�e it
FU�.T�I�R ���;S�L�'��D, That the Council, i�pon receipt of a
rrogerl� executed �zssignment of aecurii;ies a�ocument from
z�aid Proc�uce Exehange Bank of Sai�zt Patal, ir� �or.m apgrovocl
by the E:orporatian Counsel, �ut�aorizes an�3 directs the
proper �ity o��ie�i s to e�ecute, on 1�ehall: o� s�,id t;i�y,
t�is u�u��. an� custo:n�.ry l��reen��nt for �a:�e��e��ing o� i'ledged
Seeaxrities bettireen tlie sni€? �a.ty �.aac� saic�. �'�coriuce �'�:change
�ank o:� ��i,1t �'a�zl a�xd th� �+'irst �Tational I3anlc af Saint Yaul
as dPSi�n�.tecl c��toc�.iati �an�y to holc� such ;:ecurit3es for and
on belaa3.f o:C 1;13e: Ci�t� o� a�i.zt �'aul, suelx �.�r�eu�ent to be in
�'orm t�gg�raveu b�T �the Cor�or�ta.4r� CoL�n��;l, zll in aecordanee
i,rith the provisic�.s os: 4�g��lic�k�le �tate st�t�:�tes and t�.e
Chat•ter ot t�ae �:i��r o� ;�tti��t �aul.
COUNCILMEN Adopted by the Council :!1'�i'"_ ` � 19—
Yeas Nays
Carlson �
��...� ---� Approved 19—_
Meredith Tn Favor
Peterson
Sprafka �� Mayor
Tedesco A gainst
Mr. President, Byrne
O