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~~~6 <br />Construction Fund RESOLVED FURTHER, That the present <br />Account (Cont'd) collateral furnished by the First National <br />Bank of Saint Paul consisting of Fifty <br />thousand dollars C$50,000) face value of <br />U. S. Government obligations accompanied by <br />an assignment providing that in case of default <br />on the part of First National Bank of Saint Paul, <br />the council has Full power and authority to sell <br />the collateral or so much as may be necessary <br />to realize the full amount due the municipality, <br />is hereby approved, said collateral having a <br />market value in excess of 10~ over the amount <br />of the above authorized deposit in excess of <br />the amount guaranteed by the Federal Deposit <br />Insurance Corporation. <br />RESOLVED FURTHER, That checks of the Village <br />of Falcon Heights drawn upon the said bank <br />account shall be honored by said bank only if <br />signed by the Mayor, the Clerk and the Treasurer <br />of the Village of Falcon Heights, Minnesota. <br />RESOLVED FURTHER, That this designation shall be <br />effective only until the end of the present <br />council year. <br />Safety Deposit Box Nilsen moved that the Village continue <br />renting a Safety Deposit Box at the Falcon <br />Heights State Bank at a rental of $5.00 per <br />year.. Seconded by Shavor and motion carried <br />unanimously. " <br />Posting Places On motion by Shavor, seconded by Nilsen and <br />unanimously carried, the following posting <br />places were designated for 1958: <br />(l~ Blomberg's Store, Iowa and Hamline Avenues <br />(2 National Tea Store, Larpenteur and Snelling <br />Avenues <br />(3) Falcon Heights Pharmacy, Snelling and <br />Larpenteur Avenues <br />Council Meetings On motion by Warkentien, seconded by Nilsen, <br />it was voted unanimously that beginning Thursday, <br />January g, 1958, regular meetings of the council <br />be held on the second and fourth Thursday of each <br />month in the Village Hall beginning at 7:30 P.M. <br />with adjournment at 11 P.M., with the provision <br />that if the meeting; date falls on a legal holiday <br />that the meeting will be held on the next secular <br />day or such other date as may be determined by <br />the Council. <br />