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RESOLUTION NO. 1557 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING SECURITIES FURNISHED BY THE <br />FIRST STATE BANK OF NEW BRIGHTON <br />W1IEREA;, 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 <br />municipal 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 <br />collateral; and <br />amount description maturity <br />$300,000.00 U.S. Treasury Notes 01-31-83 <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 Notes 12-31-86 <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of <br />the City of Mounds View authorizes its Clerk -Administrator to <br />approve and accept the securities provided by the First State Bank <br />of New Brighton in the amount of $2,690,000 as listed on the <br />attached document labeled Exhibit A. <br />ATTEST: <br />(SEAL) <br />Adopted this 24th dayof January, 1983. <br />Mayor <br />Clerk -Administrator <br />