231328ORIGINAL TO CITY CLERK 231-328
CITY OF ST. PAUL COUNCIL
�OFFICE OF THE CITY CLERK FILE NO.
COUWQL 4SOLUTION- GENERAL FORM
PRESENTED
COMMISSIi
PL/W1�EREAS, the Sinking Fund Committee of the City of Saint
1 has.heretofore designated the Guaranty State Bank of Saint
Paul as a depository for receiving and holding funds and moneys
of said City and has fixed the maximum sum which may be deposited
by the City in said Bank and has also established the maximum
amount as collateral.to secure such deposits of funds and moneys;
and r
WHEREAS, the Sinking Fund Committee at a recent meeting has
fixed an increased amount a4,-the maximum City deposit, in the
amount of #180,000.00, and 4as provided that at no time shall the
amount of said City's fundsldeposited, pursuant to the provisions
of applicable law, Resolution, of this Council, Council File No.
218308, adopted May 26, 1964_,` and recent action•of the Sinking
Fund Committee hereinbefore referred to, exceed either $180,000
or 10 /11 of the market value of bonds of the United States
Government or other authorized direct obligations of the United
States of America so deposited and assigned by said Bank as
security therefor, and has further set the aggregate amount
of security to be deposited by said bank in the amount of
$198,000; 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
6ommittee in designating the Guaranty State Bank of Saint Paul
as a depository for receiving and holding funds and moneys of
the City and fixing the sum of $180,000 as the maximum to be
deposited in said Bank, and establishing the sum of $198,000
as collateral to secure these funds and moneys; be it
FINALLY RESOLVED, That Resolution of this Council, Council
File No. 228939, adopted June 3, 1966, is cancelled and superseded
hereby, and the provisions of Resolution of this Council, Council
File No. 218308, adopted May 26, 1964, are modified as herein
provided.
COUNCILMEN
Yeas Nays
Carlson
Dalglish
Holland
Meredith
Peterson
Tedesco
Mr. President, Byrne
®ECG 8 1966
Adopted •byt'the Council 19-
.✓ .,.., i...... .:i' v ...: iif Y.• Q�i ...r. .114 V.r
n OEC Z g X66
Approved 19—
Favor
V Mayor
Against
noe-
pUBLISEiED DEC 31 la
t
X22
OUP
�ICATE TO PRINTER 231328 CITY OF ST. PAUL FOENCIL NO.
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER DATE
WHEREAS, the Sinking Fund Committee of the City of Saint,
Paul has heretofore designated the Guaranty State Bank of Saint
Paul as a. depository for receiving and holding fundss and moneys
of said ,City and has fixed the maximum sum which may be deposited
by the City in said Bank and has also established the maximum
amount as collate to secure such deposits of funds and moneys]
and .1
SEAS, the Sinking Fund Committee at a recent meeting has
fixed an increased amount as the maximum City deposit., in the
amount"of, #180,000.00, and has provided that at no time shall the
amount of said City's funds deposited, pursuant to the "provisions
of applicable law, Resolution of this Council, Council File No.
218308,,adopt,ed,14ay 26, 1964, and recent action of the Sinking
Fund 'Committee hereinbefore referred to, exceed either 180,000
or 10/11 of• tho market value' of bonds, of the United States
GoVernment or other-authorized direct obligations of the,United
'Statee of America so deposited and assigned by said'Bank as
seaurity therefor, and has'further,set the aggregate amount
of security to be deposited'by said bank in the amount of
$198,000, now, therefore, be it
MWOLVED, 'That the Council of the City of Saint Paul hereby
ratifies, adopts and approves,the action of the Sinking Fund
Committee in designating the'Guaranty State Bank of "Saint Paul
as a depository for receiving and holding funds and moneys of
the City and fixing the sum of , #180,000 as the maxiinuiA to be
deposited in said Bank, and,establishing the sum of $198,000
as collateral to .secure these funds and "moneys; be it
FINALLY RESOLVED,, That Resolution of this Council, Council
File No,* 228939, adopted June 3, 19663 is cancelled and superseded
hereby, and the provisions of Resolution of this Council, Council
File No. 218308, adopted May 26; 1964, are modified,as herein
provided.
DEC 2 e 1966
COUNCILMEN Adopted by the Council 19—
Yeas Nays
Carlson DEC 2 81966
Dalglish Approved 19.^
Holland 7-In Favor
Meredith ,�11
Peterson V Mayor
Against
gainst
Mr. President, Byrne
X22