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MINUTES <br />City Council <br />Jan. 5, 1987 <br />Depository The foregoing resolution was duly seconded by Mr. Collova. <br />(Cont.) Ayes (5) Fahey, Collova, LaValle, Blesener, Scalze. <br />Nays (0). <br />Resolution declared adopted. <br />This resolution appears in Resolution Book No. 17, Page 2. <br />Investment Mr. Blesener introduced the following resolution and moved its adoption: <br />Depositories <br />RESOLUTION N0. 87-1-3 - DESIGNATING FIRST BANK <br />STATE, OAK PARK HEIGNTS, FIRST FEDERAL, FIRST <br />FEDERAL SAVINGS & LOAN, WASHINGTON FEDERAL OF <br />STILLWATER, PRUDENTIAL, AMERICAN SAVINGS & LOAN, <br />FRANKLIN CUSTODIAN FUND (OFFERMAN) AS THE CITY'S <br />INVESTMENT DEPOSITORIES FOR 1987 <br />The foregoing resolution was duly seconded by Mrs. Scalze. <br />Ayes (5) Blesener, Scalze, Fahey, Collova, LaValle. <br />Nays (0). <br />Resolution declared adopted. <br />This resolution appears in Resolution Book No. 17, Page 3. <br />Official Fahey reported that the City has received two bids for the designation <br />Newspaper as the City's official newspaper during 1987. These are from: <br />White Bear Press $4.82 per column inch for legal notices <br />$405 per month for publication of minutes <br />Lillie Suburban $4.71 per column inch for legal notices <br />$350 per month for publication of minutes. <br />Mr. Gene Johnson, representing the White Bear Press, pointed out <br />that his firm was the City's official newspaper in 1986 and would <br />like to negotiate with the City in order to retain its business. <br />Johnson also pointed out that if minutes were published at the <br />legal rate, the cost of doing so would be approximately $655 per ~onth. <br />Mr. Blesener pointed out that the North Suburban Press, published <br />by the White Bear °ress, has the opportunity to reach all homes <br />in Little Canada. Blesener was not sure that the Roseville Review, <br />published by the Lillie Suburban Press, had this opportunity. <br />Mrs. Scalze pointed out that she does not receive the Roseville <br />Review at her home. <br />LaValle agreed that the North Suburban Press was readily available <br />to homes and apartment complexes within the City. <br />Page -2- <br />