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OR�GIHAL O CITY CL6RK ��61 �
_ . �` • CITY OF ST. PAUL FOENCIL NO.���
� OFFICE OF THE CITY CLERK
� 1i C UN L 'S�� �UTION—GENERAL FORM
IRESENTED RY 3
COMMISSIONE DATE
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R SOLVED, by the Coun.cil of the City of Saint Paul
that it�herewith acknowledges and consents to the terms stated
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in a letter dated July 6, 1965, from the First National Bank
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of Saint Paul, eoncerning collateral to secure City funds and .
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' funds of Independent School District No. 625� until such time
as proper resolutions and assignments can be prepared and
executed by the School District.
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,�O.H, P R�OVED ,
� ' JUL'7 �
, A st. Co i n Counsel
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CO.UNCILI�N Adopted by the Council 19—
Yeas , Nays �ry '19�
Dalglish 6
Holland � � prove 19—
: Loss - Tn F'aVOr
. Meredith � `
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Mayor
Rosen . ASainst
Mr. President, Vavoulis - PUBLISHED ��L 10 1�5
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CUrCICATL'TCt PIIINT[R
,� � CITY OF ST. PAUL couHCa "r�
OFFICE OF THE CITY CLERK F�� NO
� COUNCIL RESOLUTION—GENERAL FO�.M
rRESENTED tY
COMMISSIONE� DATF
RESOLVED� by the Council of the City of Saint Pau1
that it herewith acknowledges and consents to the terms st�t�d �
in a le��er dated July 6� 1965� from the First National Bank
_ of Saint Paul� concerning aollateral to secure City funds and
funds of Independent School Dis�rict No. 625� until sueh time
as proper resolutions and sssignments can be prepared and
exeauted by the School District.
JVL� 1965
COUNCILMEN Adopted by the Council 19—
Yeas Nays
Dalglish ��� �
Holland Approved 19—
Loss � Favor
Meredith
�� v Mayor
A gainst
Rosen
Mr. President, Vavoulis
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THE FYRST NATIONAL BANK OF SAINT PAUL
ST. PAUL, MItVNESOTA 55101 � � AREA CODE 6�2- 221-9p12
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� . BANK BOND POR�FOLIO
� EDWARD B. CHAPIN, VICE �RESIDENT • . . . . ZZ�,ga�g
DONALD H. THOMAS� AL616TANT VICH ►RESIDENT • 22I•9557
� DONALD C. BADGER, ADMINIiTflATIVE ABSIiTANT - 221•9558
J ' July 6, 19 65
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Finance Department City of Saint Paul
Court House
Saint Paul, Minne s ota 55I 02
Gentlemen: Attn. Mr. James J. Dalglish !
Commissioner of Finance j
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On September 3, 1954 Tlie First National Bank of �
Saint Paul executed an assignment with the City of Saint Paul,
whereby the bank pledged $?, 000, 000 United States Treasury ,
securities as collateral to secure funds and moneys of the City,
including funds of the Special School District of the City of
Saint Paul. On November I7, I955 the City of Saint Paul
authorized us to withdraw $2, 000, 000 of our United States I
� Treasury securities, and at the present time we have $5, 000, 000
of United States Treasury securities pledged as collateral to
secure City funds, including those of the Special School District
of the City of Saint Paul.
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� ,We wish to advise that the collateral which we have
currently pledged covers funds with us on deposit by the City of
Saint Paul, and, in addition, funds of the new Independent
' School District No. 625, formerly referred to as School District
. No. 2, �until such time as proper resolutions and assignments
can be �prepared and executed by the new School District. ,
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; We will be happy to pledge additional collateral in I
the form of United States Treasury securities, if necessary, to '
collate'ralize the balances of the City of Saint Paul and Inde-
pendent School District No. 625.
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Sincerely, �
i ��,;� -���L���/� �r /�/i� ,
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� Vice President •
EBC ir
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THE FIRST NATIONAL BANK OF SAINT I'A�C.TL
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� ST. PAUL, MINNESOTA 55101 AREA CODE 612 - 221-9012
. � ��St
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J , BANK BOND PORtFOLlO
EDWARD B. CHAPIN, VIC6 PpE610ENT • • . . . 22�.9318
;
• DONALD H. THOMAS, AS91S7ANT VICE IRHGIDENT • 221.9557
� DONALD'C. BADGER. ADMINILTHATIVE A351GTANT - 221•BSSB
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' July 6, 1965 '
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Finance Department City of Saint Paul '
Court House
Saint ,Paul, Minne s ota 55I 02
Gentlemen: Attn. Mr. James J. Dalglish
= Commissioner of Fina,nce
� On September 3, I954 Tlie First National Bank of
Saint�Paul executed an assignment with the City of Saint Paul,
whereby the bank pledged $7, 000, 000 United States Treasury
securities as collateral to secure funds and moneys of the City,
including funds of the Special School District of the City of
Saint Paul. On November 17, 1955 the City of Saint Paul
authorized us to withdraw $2, 000, 000 of our United States
• � Treasury securities, and at the present time we have $5, 000, 000
of United States Treasury securities pledged as collateral to
secure City funds, including those of the Special School District
of the City of Saint Paul.
- We wish to advise that the collateral which we have �
currently pledged covers funds with us on deposit by the City of
Saint Paul, and, in addition, funds of the new Independent �
School District No. 625, formerly referred to as School District
No. 2,- until such time as proper resolutions and assignments
' can be prepared and executed by the new School District. ,
' We will be happy to pledge additional collateral in
the form of United States Treasury securities, if necessary, to
collateralize the balances of the City of Saint Paul and Inde-
pendent School District No. 625.
� Sinc e rely, �
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' Vice President �
EBC ir' �
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