194270oN4
ORIGINAL TO CITY 4°LERK
CITY OF ST. I
OFFICE OF THE CI
may,,, /� COUyNCCII,L SO UTION-
PRESENTED BY 12/ , N d''u- \ /' ' ' 1��
Council File No. 194270 —By Mrs. Donald
M. DeCourcy-
Resolved, By the Council of the City
of Saint Paul that said Council hereby
concurs in the action of the Sinking
Fund Committee of said City under
said Committee's motion adopied Oc-
tober 2, 1959, granting subject to such
concurrence of this Council, American
National Bank' of Saint Paul leave to
w.t�i jv_ from the Federal Reserve
1_942i0
1L NO.
RESOLVED, by the Council of the City of Saint Paul that
said Council hereby concurs in the action of the S- inking Fund
Committee of said City, under said Committee's motion adopted
October 2, 1959, granting, subject to such concurrence of
this Council, American National Bank of Saint Paul leave to
withdraw from the Federal Reserve Bank of Minneapolis, the
custodial depository of the same, $565,000 23% U. S. Treasury
Bonds, dated December 15, 1954, due August 15, 1963, from the
$665,000 U. S. Treasury Bonds, 2!26, due.August 15, 1963, now
held by the Federal Reserve Bank of Minneapolis as such
custodial depository, as collateral security for City of Saint
Paul deposits in said American National Bank of Saint Paul,
without substitution, the remaining $100,000 23% U. S. Treasury
Bonds, dated December 15, 1954, due August 15, 1963, in said
custodial depository for said purpose, to stand as collateral
security for said Cityts deposits in said American National
Bank of Saint Paul which shall not exceed the maximum amount
of $100,000.
RESOLVED - FURTHER,._ that_.s.uch lez(ye�to-- w-i-thdraw,- subject to. _
the aforesaid conditions-,- -shad be deemed gx-antedL hereunder,
and this resolution shall suffice as authority therefor; and
that the Commissioner of Finance hereby is authorized to deliver
a certified copy of this resolution, together with said
Commissionerts letter addressed to the Federal Reserve Bank
of Minneapolis, granting leave for said withdrawal, without
substitution, subject to the aforesaid conditions.
OCT 81%9
COUNCILMEN Adopted by the Council 19
Yeas Nays OCT 8 M
DeCourcy
Holland Approved 19
Mortinson &td",
Peterson In Favor
Rosen Mayor
Winkel Against
Mr. President, Dillon , A —16
5M 7 -59 s FLTBLISMD,