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212934ORIGINAL TO CITY CLERK q PRES .,, "$: '� ,,,m, t ' CITY OF ST. OFFICE OF THE C COUNCIL RESOLUTION- ncil File No. 212934 —By Severin ')rtinson- 1- •gas, In the mattei of 'the grc j? ,ce program .now established y ces of the Board of Educat �,` ;ity. of Saint Paul in the teal 1W Pit USHED e -I - � 1.13 WHEREAS, in the matter of the group insurance program now established for employees of the Board of Education of the City of Saint Paul in the teaching professions, which employees' group is insured under policy with The Minnesota Mutual Life Insurance Company, insurer, Policy No. 1520 -G, in effect prior to March 1, 1963, dividends have accumulated in substantial amounts by reason of favorable mortality experience; and WHEREAS, the Board of Education of the City of Saint Paul, at its regular meeting on Tuesday, May 21, 1963, by motion adopted at said meeting, determined to recommend to the Council of the City of Saint Paul that The Minnesota Mutual Life Insurance Company be instructed to reinvest and to distribute accumulated dividends applicable to said group Policy No. 1520 -G in the manner outlined in motion adopted by the Board of Education at its meeting on May 21, 1963; now, therefore, be it RESOLVED, That the Council of the City of Saint Paul hereby concurs in the aforesaid recommendation of the Board of Education .of the-City of Saint Paul and directs that approximately $17,175 of such aforementioned accumulated and available dividends on March 1, 1963, under group insurance Policy'No. 1520-G., issued by The Minnesota Mutual Life Insurance Company, and covering employees of _the Board of Education of the City of Saint Paul in the teaching profession, be reinvested for coverage of 50% additional paid -up insurance for the period of the policy year March 1, 1963, through February 29, 1964, for those employees insured under said policy -for s =ix months prior to and on February 28, 1963, and who continued to be insured on March 1, 1963, and that 40% cash return of premiums paid during the past policy year, March 1, 1962, to February 28, 1963, be distributed to those employees insured for six months prior to and on February 28, 1963, and who continued to be insured on March 1, 1963;. be it FURTHER RESOLVED, That to prepare same to The . COUNCILMEN Yeas Nays �aliaxrd- Loss Mortinson Peterson Rosen - Mr. President, Vavoulis 101\1 8-82 a certified copy Minnesota Mutual the City Clerk be and is hereby directed of this resolution and to deliver the Life Insurance Company forthwith. T, Favor Against 2 4 1963 Adopted by the Council MAY 19— MAY 2 4 1963 Approved 19_ Mayor � �♦.. ,�. '• t� -`. ''•.� ,•• ? ^' f.•.: v �'•:r a� `c .• a 'it'- _a'�M1 -•_ .'.. _' � -4 _ t -i _ -�+ �- r � ^� `, '.fie_ ` = ^-' �� �`�`` : ,` - - s.•_ .�•- .�* .ice' �ro• . "` _ _ - •. .' xY• ~ ..�V.F i• - - � -.= - •, .. -, _ - '�._- ��_ J•' -- �w _._ _ _• .y �� Imo'`,,_ +.. -° ~4.i _ ,mac - •� '~ ��` -.4 .`.- r 'J '.1 ' IS . -\ �.5. _ y `Ay - + .�, r1 _ _ - ' •_ _ - _ _a t�•_ _ � �.tw � '� , *ate -� •�t � /.- , _- ^" _ .r�- ` r - .` - .= = =� tY. , i '.�_!. .� W - , - ',� . _ h •• {.. r 4* -- _"963 _ _ , : r _< '_'l _` • *a1•T •, � ^t,1. rT L. ` -' - "• i "- '_ t♦ - - - i ;_ -• -_ - _j ' \ __'- .T .k �:1 _ - <f � ,.. - � � y � L •r. `;e'er_, r, • s t . rt z ". , - - - - - _ .. - '' i` _ -MnhesotaWtu9-.t Life Masurance'" Co:_ ��' :,� �3�.5 Cedar Sf:.F... ' � :A - - �• - '` _ ..< _ _ _ __ St. Paul 1p, 'Minnesota %p City Council -directed to send y the'' closed -.certified. copy of _ .' a resolutiopg Coune►i1 Pi l 212gAw , ted todayv- with' referonce`to -Y _ - reinvestment of acaumula avails dividends on Arch L 1963� under group assurance Po li o."15,20 covering emyloyes. ` of 'the Board or lduq►tion- 9.n ,- as more Puny de gscrl�, in the. 1,, ' t, ,�_ ,..__�; :.�., :ast�► Clergy _ `� IV tit, ~ -� .. _- � t, -'s ` � ;_ '.1 }r- �_ -• T - .`i �. ac - - .+4 _ -� - £'� .�• _ - _ 4S- � � _ � _ - � - ... - 'rte+ � - - �• , v {,� _� _ •i.; - �v. - - tiC - �. � - _ �; • ±mot _ - - - �'�; ,, _ a ,`~ � r "r _ ` ' `,�� • , _� � � `_ _y _� � ` . ... i , - _fit y - � , f _ - THE SAINT PAUL PUBLIC SCHOOLS 434 615 CITY HALL SAINT PAUL 2,MINNESOTA OFFICE OF THE SUPERINTENDENT May 22, 1963 Honorable Mayor and Members of the City Council: Herewith I am transmitting to you a certified copy of a motion adopted unanimously by the members of the Board of Education at their regular meeting on Tuesday, May 21, 1963, regarding disposition of dividends earned on Group Policy No. 1520 -G. MOTION - Mr. Hammond moved that the Board of Education recommend to the City Council that it instruct the Minnesota Mutual Life Insur- ance Company carrying group life insurance policy No. 1520 -G on teachers in the St. Paul schools, to reinvest 50 %, additional paid -up insurance, 40% cash return of premiums, with the balance retained as a reserve in the divi- dend account. Motion seconded by Mrs. Bratnober and carried. I hereby certify that the foregoing is a true and correct copy of Board of Education proceedings dated May 21, 1963. Assistant Secre ary Res ully submitted, ForrestzE. Conner I