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2027 <br />Thereupon said resolution was declared duly passed and <br />adopted, <br />Attorney Galvin: <br />Council was advised that copy of the proposed agreement <br />Lindig: had been delivered to Bianchi's attorney and that this <br />should be concluded within the next day or ixo. <br />General Obligation Bill Olsen, Treasurer, advised he was going to meet Mr. <br />Refund Improvement Bob Sander of Juran and Moody to deliver check for <br />Bonds of 1963: refunding bond issue, Member Stone introduced the <br />following resolution and moved its adoption: <br />RESOLUTION APPOII~;TING TRUSTEE AND AUTHORIZING <br />THE SALE QF INVESTMENTS AND THE DEPOSIT QF PROCEEDS <br />WI~TEREAS, the Village of Falcon Heights had by resolution <br />of September 18, 1963 authorized the issuance of X525,000.00 <br />in general obligation refund improvement borxls of 1963, and <br />V9HEREAS, it is necessary to select a trustee to safe- <br />guard and administer said account as provided under the <br />provisions of said authorizing resolution, and <br />~HE[~EAS, it is necessary to sell certain of the invest- <br />ments presently held isi the sanitary s~+rer system improvement <br />No. 1 bonds of 1957, and to transfer certain investments and <br />proceeds from the foregoing sale of investments to the said <br />trust account, <br />NO~iI', 'I'HEREF4RE, BE IT RE50LVED by the Village Council <br />of the Village cif Falcon Heights: <br />1. The American National Bank of St. Paul is hereby <br />designated as the depository and tru.stae for the proceeds <br />of the general obligation refund improvement bonds of 1963. <br />2. The sale of X7.5,000.00 of investments contained <br />in the Sanitary Sewer System Improvement No. 1 of 1957 is <br />hereby authorized and the transfer of the proceeds of said <br />sale to the aforesaid account in the Amer3.can National Bank <br />of S t. Paul is hereby approved. <br />3. The transfer of $15,000.0 3n U. S. Treasury Bills <br />and Notes with maturity dates of December 26, 1.963 contained <br />3xi the Sanitary Sealer System Improvement No. 1 Bonds of 195? <br />to said account in the Americaz~ National Bank of St. Paul is <br />hereby authorized. <br />The motion for the adoption of the foregoing resolution was <br />duly seconded by member Shavor, and upon s vote being <br />taken thereon, the following voted in favor thereofs Nilsen, <br />Mortensen, Warkentien, Shavor, and Stun®, and <br />the following voted against the same: None. <br />thereupon said resolution was declared duly passed and <br />adopted. <br />