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1701 <br />Falcon Hgts. The folloi~ring resolution zwas moved by Nilsen, seconded by <br />State Bank T~a~ortenson and adopted unanimously: <br />San. Sew. Imp. <br />No 1, S. F. RESOLVED, That the Falcon Heights State Bank of Falcon <br />acct; LAti`+T~~/PS Heights, Pdi~r.esota, be and hereby is designated as a depository <br />ti"dP~~I 1960 `do. for the funds of the Village ofr'alcon Heights, and that the <br />1 fund. Vi~lage Treasurer is authorized to deposit Village funds therein <br />to the amount of one-hundred-thousand dollars 0100,000.00) <br />belonging to the Village of Falcon Heights, r.2innesota Sanitary <br />Sewer System, Improvement No. 1 Sinking Fund Account. Also any <br />monies accruing in the Larpenteur Avenue'vtatermain and Pumping <br />Station Improvement Fund and the ',1`atermain Improvement of 1060 <br />No. 1 Fund. <br />RESOLVED FURTHER,that the present collateral furnished by Falcon <br />Heights State Sank consisting of one-hundred-fifteen thousand <br />dollars X115,000.00) face value U. S. Treasury bonds accompanied <br />by an assignment providing that in case of default on the part <br />of Falcon Heights State Sank, the Council has full power and <br />authority to sell the collateral or so much as may be necessary <br />to realize the full amount due the municipality, is hereby approved, <br />said collateral having a market va_1ue in excess of 10~ over the <br />amount of the above authorized deposit in excess of the amount <br />guaranteed by the Federal 7eposit Insurance Corporation. <br />RESOLVED FI1R'1~-?ER., that checks of the Village of .Falcon Heights <br />drawn upon the said bank shall '~P honored. by said bank only if <br />signed by the T;~a.yor, the Clerk and she Treasurer of the Village <br />of Falcon Heights, P:~Zinn~~sota. <br />RESOLVED FUFT~-?rDR., that this designation shall be effective only <br />until the end of the present Council year (1962). <br />The following rote was recorded: Nilsen, Aye; Vtarkentien, Aye; <br />Shavor, Aye; ~ortenson, Aye and Stone Aye. <br />Safety P,Zortenson moved that the Vi~lage continue renting a Safety <br />Deposit Deposit .Box at the Falcon Heights State Sank. Seconded by <br />Box Nilsen and carried. <br />Posting On motion. by ~?arkentien, seconded by Shavor and unanimously <br />Places carried, the follavring Wasting places were designated for 1962: <br />1. Blomberg's St.ore~ Iowa. and Hamline.. <br />2. Falcon Hei~-hts Pharmacy, N. Vi. corner Larpenteur & Snelling. <br />3. Applebaum's F,od Store, S. E. Garner Larpenteur & Srelling. <br />~.. Vi17 ape Hall. <br />Legal ':Mews- The following resolution eras adopted by unanimous vote on motion <br />paper by stone, seconded by Shavor: <br />RESCLVED, that the Rose Tri?;une a legal newspaper of general cir- <br />culation in the Vil.lar-e of "alcon Height.,s be and hereby is des- <br />igrated as the Official Pewspaper of the Village of Falcon Heights, <br />in which shad 'oe published such ordinances and other matters as <br />are required by l~~w to be published, and such matters as the Council <br />