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RESOLUTION 10. 1687 <br />CITY OF MOIINDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING SECURITIES FURNISHKO 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 <br />depository 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 <br />proposed deletion of the following security from being pledged <br />as collateral; and <br />amount description maturity <br />$250,000.00 Federal Farm Credit Banks 12-01-83 <br />$300,000.00 U.S. Treasury Notes 03-31-84 <br />WHEREAS, the First State Bank of New Brighton pledges <br />the following additional securities; <br />amount description maturity <br />$150,000.00 U.S. Treasury Notes 02-15-86 <br />$400,000.00 Federal Farm Credit Banks 09-02-86 <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 <br />Bank of New Brighton in the amount of $2,690,000 as listed on <br />the attached documents labeled Exhibit A. <br />Adopted this 2011 day of November, 1983. <br />ATTEST: <br />(SEAL) <br />Mayor <br />Clerk -Administrator <br />