201501ORIGINAL TO CITY CLERK
CITY OF ST. PAUL COUNCIL NO. `� -1.501
OFFICE OF THE CITY CLERK FILE
UNGIL RESOLU N— GENERAL FORM
PRESENTED BY -
COMMISSIONE DATE
RESOLVED, That Midway National Bank of Saint Paul,
designated as a depository of a portion of the moneys of the
City of Saint Paul, subject at all times to applicable
statutory requirements, among other things, for the furnish-
ing and maintenance by said Bank, on deposit with the
Commissioner of Finance, of bonds of the United States Govern-
ment, as security therefor, and in an amount equal to the
maximum amount of moneys of said City at any time on deposit
with said Bank, having offered to substitute for United
States Treasury Bonds, principal amount $300,000.00, bearing
interest 24% per annum and due June 15, 1959 -1962, deposited
by said Bank for said purpose with said Commissioner of
Finance, United States Treasury Bonds principal amount
$300,000.00, dated March 15, 1961, bearing interest 3 -5/8%
per annum, due November 15, 1967, pursuant to said Bank's
aforesaid proposal therefor, withdrawal of said United States
Treasury Bonds now on deposit and the substitution therefor
by said Bank, for said . security purposes of said United
States Treasury Bonds in the same principal amount of
$300,000.00, bearing interest 3 -5/8% per annum, due
November 15, 1967, hereby is authorized and the proper
City officers hereby are authorized to permit said proposed
withdrawal'contingent upon said proposed substitution.
4
�F4,
.X
COUNCILMEN
Yeas Nays
DeCourcy
Holland
Loss
Mortinson
O- terson
Rosen
Mr. Presidents Vavoulis
ISM a -so 2
Y
Council File No. 201501 — By Bernard)
T. Holland— i
Resolved, That Midway National Bank
of Saint Paul, designated as a depos-
itory of a portion of the moneys of
the City of Saint Paul, subject at all
times-to applicable statutory require
ments, among other things, for the
furnishing and mainten9nce by said
Bank, on deposit with the Commis-
sioner of Finance, of bonds of the
United States Government, as security
therefor, and in an amount equal to
the maximum amount of moneys of
said City at any time on deposit with
said Bank, having offered to substitute
for United States Treasury Bonds,
.principal amount $300,000.00, bearing
interest 21,x% per annum and due Tune
15, 1959 -1962, deposited by said Bank
for said purpose with said Commis-
sioner of Finance, United States Treas-
ury Bonds principal amount $300,000.00,
dated March 15, 1961, bearing interest
318% per annum, due November 15,
1967, pursuant to said Bank's aforesaid
proposal therefor, withdrawal of said
United States Treasury Bonds now,
on deposit and the substitution there-
for by said Bank, for said security
purposes of said United States Treasury
Bonds in the same principal amount
of $300,000.00, bearing interest 3%% per
annum, due November 15, 1967, hereby
is authorized and -the proper City
officers hereby are authorized to permit
said proposed withdrawal contingent
upon said proposed substitution.
Adopted, by the Council April 6, 1961.
Approved April 6, 1961.
(April 0,11961)
Against
luncil 19-
19—
Mayor