CCMin_60Jan14 - Laserfiche WebLink

Home Browse Search

1352 be published such ordinances and other matters as are required by law to be so published, and such matters as the Council may deem it advisable and in the public interest to have published in this manner for the year 1960, Depositories The following resolution was moved by V~larkentien, seconded by Shavor and ad opted unanimous ly: RESOLVED, that the Falcon Heir~hts State ?3ank of Falcon Heights, ":Tinnesota, be and hereby is designated as a depository for the funds of the Village of Falcon Heights and that the Village Treasurer pis authorized to deposit General Village Funds therein to the amount of forty-five thousand dollars (~l~5,000.) RESOLVED FURTHER, that the present collateral furnished by the Falcon Heights State ~3ank consisting of forty-thousand dollars (,~~0~000.) face value of U. S~ Government Obligations accompanied by an assignment providing that in case of default on the part of the Falcon Heights State Bank, the Council has full power and authority to sell the collateral or so mucri as may be necessary ±o realize the ful_1 amount due the municipality, is hereby ap:~roved, said collateral having a market value in excess of 105 over the amount of the above authorized deposit in excess of the amcunt guaranteed by the Federal Deposit Insurance Corporation, RESOLVED FURTHER, +,hat checks of the Village of Falcon Heights draiti=n upon the said bank account shall be honored by said. bank oray if signed by the P,4ayor, the Clerk and the Treasurer of the Village of Falcon Heights, ':~innesota. RESOLVED FUR'~?ER, that this designation shall be effective only until the end of the present Council year: The following vote was recorded: Tlilsen Aye;,Utecht Aye; "havor Aye, '>"~f~~rkentien 4ye and Conpini, Aye. Falcon The following resolution was mo~~•ed by Vdarkentien, seconded by Heights Shavor and adopted unanimously: State '3ank Sinking Fund RESOLVED, that the Falcon Heights State dank of Falcon Heights, Account r:'Iinnesota be and hereby is designated as a depository for the funds of the Village of Falcon Heights, and that the Village Treasurer is authorized to deposit Village funds therein to the amount of one- hundred-±,plousand dollars (w100,000.) belonging to the '"Villa~-e of Falcon Hei_~hts,"?in~escta, Sanitary Sewer System, Imnrovem..ent ~~o. 1 Sinking 'Fund 1lccount.'" RESOLVED FUR'T'IILR, that. the ?-present collateral furnished by :.Falcon Heights State '3ank consisting of one-hundred-fifteen-thousa~~d dollars 0115,000,) face va?_ue U. S. Treasury fonds accompanied by an assign- ment providing that. in case of default on the paxt of Falcon Heitrhts yank, the Council has full po~rrer and authority to sell the collateral or so much as may be necessary to realize the full amount d-,;e the municipality, is hereby approved, said collateral having a market value in excess of 10% over the amount of the above authorized de- posit in excess of the amount guarar.t.eed b~- the Federal Dep psit Insu~ance ~ornoration. RESOLVED FURTHER, that checks of the Village of Falcon Heigh is