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RESOLUTION No. 1462 <br />CITY OF MUUNUS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING SECURITIES FURNISHED HY THE FIRST <br />S'rATF. BANK OF NEW BPiGH':ON <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 delet,on of the following security from being pledged <br />as coliateral; and <br />amount description <br />maturit <br />$40,000.00 Sarpy Co. NE So 18 Echo Hill 12-15-85 <br />WHEREAS, the First State Bank of New Brighton pledges <br />the following additional securities; <br />amount description <br />maturity <br />S40,000.00 Bacon, WI ktr. i Elect <br />12-01-94 <br />NOW, THF.REFORF, BE IT RESOLVED that the City Council of <br />[h: <br />y of Mounds View authorizes its Clerk -Administrator to <br />th,?C.Citit ies provided t+, the First State <br />aopove and accept the securit <br />Bank of NPw Brigi,ly, i tha amount of $2,690,OU0 as listed on <br />the attached documPnts labeled Exhibit A. <br />Adopted this 23rd day of December, 1985. <br />ATTEST: <br />(SEAL) <br />Mayor <br />Clerk- <br />Administrator <br />