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RESOLUTION NO. 2068 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION APPROVING SECURITIES FURNISHED 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 />$400,000.00 Federal Farm Credit Banks 09-02-06 <br />WHEREAS, the First State Bank of New Brighton pledges <br />the following additional securities; <br />J amount description maturit <br />$400,000.00 U.S. Treasury Notes 11-15-89 <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 $2,700,000 as listed on <br />the attached documents labeled Exhibit A. <br />Adopted this 8th day of September, 1986. <br />ATTEST: <br />(SEAL) <br />Mayor <br />Clark -Administrator <br />