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TO: Mayor & Council <br />FROM: Finance Director -Treasurer Rrager <br />DATE: January 1,9, 1903 <br />RLI: PROPOSED RESOLUTION ACCEPTING A PLEDGE OF SECURITIES <br />Attached is a proposed resolution accepting a pledge of <br />securities from the First State Rank of New Brighton in the <br />amount of $2,690,000.00 for your consideration. The Bank is <br />proposing deletion and substitution of securities. This is <br />quite common as pledged securities mature and new securities <br />must be substituted. I recommend adoption of this resolution. <br />DB/ds <br />Attachment <br />