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228121 ` ORIGINAL TO CITY CLHpK • 3�a�� r � CITY OF ST. PAUL FOENCIL NO �� � � � OFFICE OF THE CITY CLERK ` UNCI R LU ON G�NE L RM �RESENTED EY � COMMISSIONE ,� ti RESOLVED, that the Council of the City of Saint Paul hereby authorizes, approves, and ratifies similar action by the Sinking Fund'Committee of said City, in the premises, and designates Capital City •State Bank of Saint Paul, a bank authorized to do business in " the State of Minnesota, as a depository of a portion of the moneys of said City, subject at all times to the applicable statutory requirements that said Bank shall furnish and maintain on deposit with the Commissioner of Finance of said City bonds of the United States Government in amount equal to 110 per cent of the maximum amount of money of said City at any time on deposit with said Bank, such bonds having a market value of at least par or equivalent of 110 per cent of the amount of such deposit, approved by this Council, and accompanied by a proper assignment of the same to said City, to the end the said Bank so depositing and assigning such securities shall and will safely keep and pay over to said Commissioner of Finance, or his order, on demand, free of exchange, all moneys of said City deposited therein at any time, while such bonds shall be so deposited with�said Commissioner, with interest, if any, thereon, at the agreed rate; t�at in case of default on the part of said Bank, as such depository, the Council shall have full power and authority to sell such bonds or so much thereof as may be necessary to realize the fu11 amount of said City's funds so deposited in said Bank, together with such interest, if any, thereon, and to pay.the balance or over-plus, if any, to said Bank; that as and for such deposit and assignment to be made by said Bank with said Commissioner, to secure said deposit of said City's funds in said Bank, the deposit and assignment by said Bank of $25,000, 3-3/4% U. S. Treasury Notes, due August 15, 1967, and $31,000, 4% U. S. Treasury Bonds of 1969, due October 1, 1969, in accordance with the pertinent pledge of securities, delivered by said Bank to said Sin.king Fund Committee, hereby is approved and authorized _ for acceptance by said Sin`kin`g Fuiid �Co�nittee and said Commissioner�for said purposes; that the amount of said City's funds deposited pursuant hereto with said Bank, shall at no time exceed either $45,000 or ten-elevenths of the market value of_ bonds so deposited and assigned by said Bank as security therefor. Upon the effective, date of this resolution, Resolution No. 212201 is hereby cancelled and superseded. . �a(� 141��� COLJNCILI�N \ Adopted by the Council 19— � Yeas -- Nays FO PPROVED � _ , • Dalglish , �pR � 4196� Holland Asst. Comoration Counse� ove� 19— Loss � Tn Favor � Meredith �� � , Mayor A gainst Rosen Mr. President, Vavoulis PUBLISHED AP� �6' ���� ions a�s DUrLICAT[TO rRIHT[R '' CITY OF ST. PAUL FO�NCIL N � ,`� i�. �i OFFICE OF THE CITY CLERK � � � ' COUNCIL RESOLUTION--GENERAL FO�.M tRESENTED �Y COMMISSIONE� DA� RESOLVED, that the Council of the Ciey o� Saint Paul hereby authorizes, approves, and ratifies aimilar action by the 5inking Fund Cou�nittee of said City, in the premi�es, and deeigaates Capital City State Bank of Saint Paul, a bank authorized to do buainess in the State of Minnesota, ae a depository of a portion of the moneys of said City, sub�ect at a11 times to the applicable atatutory requiremente that said Bank sha11 furnish and maintain on deposit with the Coammissioner of Finance of said City bonda of �he United States GovernmenC in amounC equal to 110 per cent of the maximum amount of money of said City at any time on deposit with said Bank, such bonds having a market value of at least par or equivalent of 110 per cent of the amount of such deposit, approved by this Cauncil, and accompanied by a proper assigument of the eame to said City, to the end the said Bank so depositing and sesigning such securities shall and will safely keep and pay over Co said Co�issioner of Finance, or his order, on demand, free o£ exchanget all moneys of said City depoaited therein at any time, whiZe such bonds shall be ao depoaited wiCh said Co�iasioner, with interest, if any, thereon, at the agreed rate; that in caee of default on the part of said Bank, as auch depoaitory, the Council shall have full powex and authority to sell euch bonds or ao much thereo£ as may be neceasary to realize Che full amount of said City's funds so deposited ia Said Bank, tog�ther with such interest, if any, thereon, and to pay the baZance or over-plus, if any, to eaid Bank; that ae and £or such deposit and aeaignment to be made by ssid Bank with said Commissionar, to secure said deposit of said City's funda in said Bank, the depoait and assignment by said Bank of $25,000, 3-3/4� U. S. �Yeasury Notes, due August 15, 1967, and $31,000, 4X U. S. Treasury Bonds of 1969, due October 1, 1969, i.n accordance with the pertiaent pledge of securities, delivered by eaid Bank to said Siaking Fund Co�mmittee, hereby is approved and authorized for acceptance by eaid Sinking Fund Committee and said Commiasioner for said purpoaes; that the amnuat of said City's funds deposited pursuant hereto wit1� said Bank, shall at no time exceed either $45,000 or ten-elevenths af the market value of bonds so deposited and assigned by said Bank as security therefor. Upon the etfective date of this resolution, Resolution No. 212201 is hereby cancelled and superaeded. APR 1419�� COUNCILMEN Adopted by the Council 19— Yeas Nays ��� � � ���� Dalglish Holland Approv� 19— Loss Tn F'aVOr Meredith 11 Mayor BPCereon—� CJ against Rosen Mr. President, Vavoulis 1on� e�s