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RESOLUTION NO. 1494 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING SECURITIES FURNISHED BY THE FIRST <br />STATE BANK OF NEW BRIGHTON <br />WHEREAS, the City Council of the City of Mounds View has <br />designated the First State Bank of New Brighton as a depository <br />Of city funds; and <br />WHEREAS, Minnesota Statutes 118.01 require that a municipal <br />depository provide securities for collateral; and <br />WHEREAS, the First State Bank of New Brighton has proposed <br />deletion of the following security from being pledged as collateral, <br />and <br />amount description maturity <br />r $300,000.00 U.S. Treasury Note 09-30-82 <br />WHEREAS, the First State Bank of New Brighton pledges the <br />following additional securities; <br />amount description maturity <br />$300,000.00 U.S. Treasury Note 03-31-84 <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the <br />City of Mounds View authorizes its Clerk -Administrator to approve <br />and accept the securities provided by the First State Bank of New <br />Brighton in Lhe amount of $2,690,000 as listed on the attached <br />document labeled Exhibit A. <br />ATTEST: <br />(SEAL) <br />Adopted this 27th day of September 1982. <br />Mayor <br />Clerk -Administrator <br />