210901ORIGINAL TO CITY CLERK
PRESENTED BY
COMMISSIONE
U
CITY OF ST. PAUL
OFFICE OF THE CITY CLERK
JIL RESOLUTION— GENERAL FORM
2'109 ()*l
COUNCIL
FILE NO.
RESOLVED, That the Council of the City of Saint Paul
hereby concurs in the action of the Board of County Commissioners
of Ramsey County taken at their meeting on January 14, 19639
and hereby approves assignment of $1,125#000 in the following
securities by the American National Bank of St. Paul in
consideration of its designation as a depository of public
funds of Ramsey County: -
$725,000 U. S. Treasury Bonds 3 -3/4% due August 15, 1968
$4009000 U. S. Treasury Notes 3 -1/4% due November 15, 1965
said securities to be pledged in exchange for $800,000 in United
States Treasury Bonds, 3 -3/4% due May 15, 1966 to insure deposits
of the Welfare Board Revolving Fund.
COUNCILMEN
Yeas Nays
Dalglish
Holland
Loss
Mortinson
Peterson
Rosen
Mr. President, Vavoulis
10M 6-62
Council File No. 210901 —By James J.
Dalglish-
Resolved, That the iCouncil of the
City of Saint Paul hereby concurs in
'the action of the Board of County
Commissioners of_ Ram sey County taken
at their meeting on January 14, 1963,
and hereby approves assignment of
9,125,000 in the following securities by
e American National Bank of St. Paul
in consideration of its designation as
a depository of public funds of Ramsey
j County;
$725,000 U. S. Treasury Bonds 33M
due August 15, 1968
$400,000 U. S. Treasury Notes 3%%
due November 15, 1965
said securitibs to be pledged in ex-
change for $800,000 in United S t a •t e s
Treasury Bonds, 3%% 'due May 15,
1965 to insure deposits of the Welfare
Board Revolving Fund.
Adopted by the Council January 22,
.1963.
Approved January 22, 1963.
(January,26, 1963)
JAN 2 21963
Adopted by the Council 19—
JAN 2'2 19
prove 19-
n Favor
Mayor
U Against
0�,
W. Donald M. Lacs g 90
City Corporation Counsel
Ruilding
Dear Sirs
Jatsuary is* 1963
On January 14, 1963 the Ramaty County Board of CommUsIvners did
approve.the attached assipo nt for the American National Bank of
St. Paul which pledges $10125.000..00 in government securities in
consideration of its designation as a depository of public funds
of the Raosey County Welfare Board of the City of St. Paul and the
County of Ranmay. You will Bate that the assipt 11t fora has been
approved as to fore and execution by Mr. Thomas, M. Quayle, Awdstmsst
County Attorney, and the signature of the chairman of the Cotmty
Board to also affixed to indicate the Carty Beard's approval.
It is our mWberstanding that it is nm necessary for the City of
St. Paul to approve the assignment for securities as listed, and
we ar• thus sendIm the assignosut fore to you for whatever- . ti1w.
resolatlan, etc, is necessary on the part of the City Count -11 to
provfde the ;required approval.
WO roMld appreciate havhg this assent form returned to this
afli M _pact , it has b I a oproved by the City C Lawil . Thank yas
for > i nticItatod courtesies in this matter.
wlOX eX
Very truly yours
WILLIAM M. KILLEEN
County Treasurer
enclOsuress copy - 1excevpts from Minutes'
assigment form - Am.Natl.Rk.St.Paul
f
KNOW ALL lei BY TWE i'IiBSFdi'PS t
That the Act_ Qri� tja�nj of U. Paula LiNnnia a banking
aorpc►ration organized and each '+hilt' •
tires miler the lam of the 3�ted States and
authorized b do a banking business in the Stake of Kinneeota, in consideration
of its designation, as a depository of public funds of the Raasepr County Welfare
Hoard of taw City of Saint Paul and County of RawW# State of Aiinnssota, as
hereinafter q.peaifisd, does hereby assign, transfer, set over, and deliver to
the AmGgY County Welfare Board of the City of Saint Paul and the Counter of
AMMseY, State of Minzwoota, the following seonritiess
*n5, 000 LT. S. Treasury Bonds 3 3/4% due 8_1568
$400.000 U. S. Treasury Notes 3 1 /e, due -1i -1 565
Me said securities so assigned we herewith delivered to the
:� Meey County Relfary Board. said County of Ramsey and City of Saint Paul under
and pursuant to the statutes Of the Stab of Hinnssoti, relating to depositeries
of qablia funds. and to the end that said Hank so depositing and assigning such
securities, shall and Vila. safely keep and pay over to the Ramsey County welfare
Board of the County of RM"gV and City of Saint Paul or ita order on demand, free
Of hangee Rau other ehargos. ealll monVa now or horsaf t ear deposited in such
so deposited.
county any tiwe whilo such bonds shall be
In the case of default on the part of said Bank, the A msey County
Welfare Hoard, the County of RamssY, aW. the City of Saint Paul, State of hinnesota,
and. its goveraiM bodies and officers .shall have fu-1.1 pot,,er and authority to soll
such securities* or so ranch thereof as may be necessary to roalize the fuU mount
of the Amds so deposited by said Ramsey County Welfare Board in said Bank, and to
PLY the balance or overplus, if any. to said Bank or its assigns, -it beW under -.
stood, however, that the said Ramsey County I461farg Hoard, or its sueoessor in
Office. shall return said securities to the said Hank when the trust created hereby is
tominated, and in the event of a redaction in the denoait, it shall pemit the
said Bank to withdraw the excess portion of the oollateral hereby assigned as
Provided by law.
11 tsd at St. Paul, Minnesota. this ItA day of JAVMM, 19AI.
In fires o r
J'T
(Seal)
Vicee s ant Cashier
,AND ,/1 L..
Vice President
r -
STATES OF HilU=TA )
COUNW OF RAM3EY
On this day of JKUM 19§3 before ms, a Notary Pabhc-
within and for said Gbuntyy. Pars T rPPMu'*d 4s Am B " t�
to ms prrsaYraLlr kno too, being eaob by dn]ar7. did say e7
are respeotiin]J the end of the
Hank of Minneso the oorpoaration nomad in the
f
A-JOM inggI tirment, and that the seal afftod to said instraaat is the
ooaVW&te seal of said oosporations and that said instrt>mt was signed and
sealed In behalf of the said corporation bj anthoriiW.of its Hoard of Directors,
and said M. H. Mdar and askrmledged said instre m t to be the
tree act and deed of said oorpora n.
Not . Counter, ftmbsota
Notary PubNc. Ramsey County, Mirth.
My Commission Expires Mar. 26, 19SL
My commission expires
Appnmed as to form and execution by depository this
"Y of t9 -....
■ Assistant Co>rinV Attorney
The within assignment and securities listed are hereby oPPro'vred '
by the Hoard of County Oemaissionecrs this .. day of ...,...,._�..�_____� 19 ;_
8euntr Hoard
Attests
The within assigraent and seouritiee listed Are hteby approved by the City of
Saint Paul, Hinneeota.
DPW
o
g�
r
m
z
�n
rn
Z�