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222575 ORIGIHAL TO CIT-j'iCLERK �2�5�� " -�,;- CITY OF ST. PAUL couNCa ,� � OFFICE OF THE CITY CLERK F��E NO. U C UTION—GENERAL FORM �RESENTED EY � COMMISSIONE DATF SOL , T the Council of the City of Saint Pa�l hereby auth rize�� approves, and ratifies similar action by the Sinking Fund Committee of said City� in the premises� and designates the Downtown State Bank of Saint Paul� of the City of Saint Paul, Minnesota� a State 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 requireme nts that said Bank shall furnish and maintain on deposit with the Commissioner of Finance of said City Bonds of the United States Governm.ent 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 leas� 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 sa.me to said City� pursuant to Section 118.01 et seq. � Minnesota Statutes �nnotated, as collateral security for the performance of the obligations of said Bank recited thereunder; that said Bank so depositing and assigning sueh securities sha11 an.d will safely keep and pay over to said Commissioner of Fina.nce� or his order� on deman.d� 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; that in case of default on the part of said Bank� as such deno,sitory� the Council shall have full power and authority to sell such bonds or so much thereof as may be necessary to realize the full amount of said City' s funds so deposited in said Ban.k, together with- such interest� if any� thereon� and to pay the � balanee or over-plus� if any� to said Bank; that as and for such � deposit;: and assignment to be made by said Bank, to said Commissioner� to secure said deposit of said City�s funds in said � Bank� the deposit and assignment by said Bank of the aggregate �' of �200�000.00 U. S. Treasury Notes� in accordance with the pertinent pledge of' securities� delivered by said Bank to said Sinking Fund Committee� hereby is approved and authorized � - for acceptance by said Sinking Fund Commi�tee and sai.d Commissioner for said purposes; that the amount of said City' s fun.ds �.eposited pursuant hereto with said Bank� shall at no time exceed either $180�000.00 or -ten-elevenths of the market va],ue of Bonds of the , ' United States �Government, or other authorized � d i 'r.•��`�:_ obligations COUNCILI�N Adopted by the Council 19— Yeas Nays Dalglish . Holland Approved 19— ; Loss Tn FaVOr Meredith Peterson �AyOr � ' Rosen A$alIlst '� T _ Mr. President, Vavoulis r lOM 6fi� � _ V - i ^ � � . ',� �- � ORIGINAL TO CITY�LERK �� '�-- CITY OF ST. PAUL couNCi� ,. OFFICE OF THE CITY CLERK FILE N � y COUNCIL RESOLUTION—GENERAL FORM �RESENTED dY COMMISSIONEQ DATE Page 2. of the United States of �merica, so deposited and assigned by said Bank as security therefor; and that "Bonds of the United States Governmentp° hereinabove designated shall be deemed to include Bonds� U. S. Treasury Bills� U. S. Treasury Notes or other interest bearing obligations of the United States for the payment of which and interest thereon the faith of the Federal Government is pledged. MAR 191965 COiJNCILI�N Adopted by the Council 19— Yeas Nays Dalglish ��;� �� Holland /I Appx'oved 19— Loss �l Tn Favor Meredith ' Peterson � �BYOr A galIl3t ..Roseu... , Mr. President, Vavoulis ��€� MAR 2 0 9965 ` �o� � . �- - - : 1.`DUrLICATC TO rRINT[R ^('�� /� �_ - ' CITY OF ST. PAUL FI�NCIL N� `f r tl OFFICE OF THE CITY CLERK v COUNCIL RESOLUTION—GENERAL FORM ►RESENTED �Y COMMISSIONE� DATF RESOLVED� That the Council of �he City of Sa�in� Pe�ul hereby �uthorise�s approves and ratit'ie� similar aQtion by the Sinking Fund Commi�tee of s�►�d City in the pr�ni.ses� and d�signdtes the Dorrr�toWn 3tate H�nk ot' �aint Paul� of �he City of Saint Paul� Minne�ota� a State Bank authori�ced to do businea� in the 3tate of Minrieaot�� as a depository o� a portion of the money� ot' said City� sub�ect �t �li timea to the �pplia�bl� �tatutory requiren�ent� that said Bank shall furni�h $nd a�inta�in on depoait with the Commi�sioner of Finance of aaid City Bonds o� th� IInited 3tat�s Qovernment in amount equ�l to 110 p�r cent ot' the m�imum amount of moneq of �aid City at any time on d�posit xith �aid Bank� sueh bonds h�ving a me�rket v�lue of at lea�e psr or equivalent of 110 per c�n� ot' the amount of �uch deposit� approved by �his Council� and accompan9.ed by e� prop�r �s�ignment--of the sam� �o aaid Ci�y� pursuant to �eetion 118.01 et �eq. , Minneaota Stntut�� Annotated� as Qollater�l security for the perfor'�a�noe ot' �he obligr�,tions of a�id Berik recited thmreund�r; that aaid Bank �o �epo�iting and �aaigning auch securitie� �hall and will ��t'ely keep and pay ov�r to adid Commisaioner of Finsna� or his order, on dem�nd, fr�e of exch�nge� all moneys of asid C�ty deposited therein at any time� while such bonds �h�ll be ao cleposited With aaid Commission�r� �ith interest�� 31' any thereon� at �he agreed rate; that in cda� of cl�t'aul� on the par� of said Bank� a� such depository� the Council �hall have f'ull power and authority �o se11 guch bonda or so muah ther�of as may be necesaa�ry to realize the �u.11 gm.ount of said City's funds so deposited in �sid B�tak� togQth�r wi�h �uch �ntereat� if any thereon� and to p�,y the balsnoe or over-plus� if any� to sa�d Bank; that a� �.nd for such depoait� and assignment to be made by said Bank� to �sid Commissioner, to seaure said deposit of said City' s f'und� in said Bank the deposit and a�signment by said Bank of the aggregate of ��00�000.00 II. S. Tre�sury Notes in accordanee xith the � pertinent pledge o� securities� c�el�vered by snid B�nk to said 8inking Fun.d Committee, her�by is approved and authorised for acceptance by snid Sinkin� Fund Commi�tee and �aid Commissioner for �sid purpo�es� that the amount of said City' s funcls �lepogited pursuant hereto w th s��.d Bank, sha11 at no time eaceed either �180�000.00 or ten-elevenths of the market value of Bonds of the IInited Stst�s (�overnment� or other authoriz�d - d �' 'r_ e c t' obligation$ COUNCILMEN Adopted by r the Council 19— Yeas Nays Dalglish Holland Approvetl , 19— Loss Tn Favor Meredith Peterson MByOr A gS11lSt Rosen Mr. President, Vavoulis ' ion� e-� DUrLICAT[TO rRINT[R ^��' /h '`` �_. � ' CITY OF ST. PAUL couNCU � '' °p � OFFICE OF THE CITY CLERK F��E NO V COUNCIL RESOLUTION—GENERAL FORM �RESENTED tY COMMISSIONE� DA� — Page 2. of the United States of America, so depos3ted and assigned by said Bank as security therefor; arid that "Honds of the United States Government`" herein�bove designated shall be deemed to include Bonds� U. S. Treasury B3.11s� U. S. Treasury Notes or other interest be�ring obligation� of th� United States for the payment of whiah and interest thereon the fa�ith of the Federal Qovernment is pledged. �IAR 191g6�` COiTNCILI�N Adopted by the Councii 19— Yeas Nays Dalglish MAR 191� Holland Approv� 19— Loss Tn Favor Meredith Peterson v �yOY ��II_� A g83Ilst Mr. President, Vavoulis ions e-as