194341OR161NALi, TO CITY CLERK
CITY OF ST. PAUL
c OFFICE OF THE CITY CLE
-
COUNCIL RESOLUTION— GENERi
PRESENTED BY /X ' J 'Q C
COMMISSIONER
Council File No. imil —By Mrs. Donald
M. DeCourcy—
Whereas. Ths Fund Commit-
tee of the ^City orSaint Paul reports
to *the Council that it has received a
request from_ the` Fjorthwestern Na-
tional Bar. "au- e= •' • �
known as ti
-} -1?Hlll
WHEREAS, the Sinking Fund Committee of the City -of Saint Paul
reports to the Council that it has received a request from the
Northwestern National Bank of Saint Paul, formerly known as the
Empire National Bank of Saint Paul, one of the depositories of
City funds, that said Bank desires to substitute certain of its
U. S. Government obligations now placed in the Federal Reserve
Bank of Minneapolis, and
WHEREAS, it appears that said Bank has placed with the Federal
Reserve Bank of Minneapolis, to secure deposits of the City of
Saint Paul in the Northwestern National Bank of Saint_ Paul,
$5000000 U. S. Treasury 2Y2% Notes, due November 15, 1961,,-and it is
the desire of said Bank, as expressed in a letter dated October 149
1959, directed to J. J. Mitchell, City Comptroller, the Secretary
of the Sinking Fund Committee, to substitute therefor a like
principal amount of U. S. Treasury 2 5/8% notes, due'February 15,
1963, and
WHEREAS, the Sinking Fund Committee, by motion adopted October
15, 1959, granted, subject to concurrence of this Council Noxth-
western National Bank of Saint Paul leave to make the aforementioned
substitution of securities,
RESOLVED, that permission is hereby granted to Northwestern
National. Bank of Saint Paul to substitute for the now pledged
$500,000 U. S. Treasury 2y2% Notes, due November 15, 1961, a like
principal amount of U. S. Treasury 2 5/8% Notes, due February 15,
1963, and this resolution shall suffice as authority therefor,
and that the Commissioner of Finance is hereby authorized to deliver
a certified copy of this resolution, together with said Commissionerts
letter addressed to the Federal Reserve Bank of Minneapolis, grant-
ing the . aforesaid pubstitibiLlon of securities, and be it .
COUNCILMEN
Yeas Nays
DeCourcy
Holland
Mortinson
Peterson '
Rosen
Winkel
Mr. President, Dillon
5M 5.53 cOlDo2
In Favor
Q Against
Adopted by the Council 19—
ORIGINALpTO CITY CLERK
O
CITY OF ST. PAUL FILLENCILT NO
.1,9434
OFFICE OF THE CITY CLERK
COUNCIL RESOLUTION — GENERAL FORM
PRESENTED BY
COMMISSIONER DATE '
FINALLY RESOLVED, that the proper City officer or
officers are hereby authorized and .directed to execute a modi-
fication of the Custodial Agreement designated Cust. 50 -M -B
heretofore executed on behalf of the Empire National Bank, the
City of Saint Paul, and the Federal Reserve Bank of Minneapolis
in July 1958, or to execute a new.Custodial Agreement which may
be substituted for Cust. 50 -M -B,' such modification or substituted
agreement to provide therein for the'substitution of pledged
securities hereby authorized.
k
r
O CT 16 1959
COUNCILMEN Adopted by the Council s 19
Yeas Nays
DeCourcy OCT 16 1959
Holland _ Approved 19-
Mortinson
Petersen•
In Favor .
Rosen (� i Mayor
Winkel gainst
Mr. President, Dillon
5m s -se 2 PUBLISHED
4
A sooting of tho SIAUng Fubd COUMIttee was had t dqe ;P"aentj,
Joseph So D111ons $bWorj, Mrs., PormId No, DaOourcV. C)ow4ge
toner of'rinraloes
and JO.seph J. x1tobells Clt;y,Cpxptr _0 I
10r,
It was WUMIrouoly agmd. tar gmt the roquogtuf 'thee Nortbwe'StOrA
rational Bank of Wnt ftao formerly tho nVIre ItAtlowa
or �Ao FW14
to withdraw
$,%ol,wo U. a.
dvko Nov. 1$0 196X
and (Mbetttutdi ifts collatoftl Aar a1► 4epositai
$3001,000 2-1510 % So f-PX*ft=W Va"ov, due Yeb. 150 1963
to be held by the pederaX Relterve, B=k of 14il►nespoltoo, Als, M
It VaO ftrtbar Weed that a resalutioup r*ftcutrjug In
Vw "tion of
the Sln)dng Fund Cawdtte p W40 to bo proper jO.& prgmejIted to
tbb, cltjy
Coumll for At" Approva".
The 04803W- theroVou- adjoUrned.
Jo seph E. Dillon
,swi,oved; Mrs. Donald M. DeC,,rey (signed)
Dose ise3aner ;f Financo.
i.
,,,&To,seph J. Mitchell -(,signed):'-
Comptroller
H