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�7Pwv er <br />TO: Mayor and Council <br />kFROM: Finance Director -Treasurer, Brayer <br />DATE: April 19, 1983 <br />RE: Substitution of Pledged Collateral of the First State <br />Bank of New Brighton <br />As the official depository of City funds, the First State <br />Bank of New Brighton had pledged $2,690,000.00 of securities <br />as collateral for our funds on deposit there. The bank <br />proposes the deletion and substitution of the securities <br />listed on the attached resolution. The total amount of <br />securities pledged will remain the same. A resolution <br />approving this is necessary and is recommended. <br />41' <br />