HomeMy WebLinkAboutCC RES 65-002 DESIGNATION OF DEPOSITORY FOR VILLAGE FUND APPROVING SECURITIES FOR COLLATERAL Meeting Sheet
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Folder: CC RES 1965
Document: CC RES 65-002 DESIGNATION OF DEPOSITORY FOR
VILLAGE FUND APPROVING SECURITIES FOR COLLATERAL
B
RESOLUTION NUM3,_R 65 - 002
RrSOLUTION DESIGNATING DEPOaIT,'!?Y FOR VI a..i.AGE FUPj.DS AND APPROVING SECURITIES
FOR COLLATERAL WITH THE STATE EA1'K OF THE VILLAGE OF ST. ANTHONY
BE IT RESOLVED by the Village C;,c,nci l of the Village of St. Anthony
that the State Bank of the Village of St. Anthony, Minnesota, be hereby
designated as depository for the funds of the Village, not to exceed,
however, the amount of $795,000.00 at any one time, and the Treasurer
is hereby authorized to open or continue an account or accounts with the
said bank on such terms as required by said bank in the name of the
Village, and to deposit, or cause to be deposited in such account or
accounts, any monies, checks, drafts, orders, notes, or other instruments
for the payment of money, upon compliance by said depository with this
resolution and the law in such case provided.
BE IT FURTHER RESOLVED, that until further notice of the Village of
St. Anthony by resolutions, withdrawals from the account or accounts shall
be only upon written order of the Treasurer, countersigned by the Village
Manager and the Mayor,
BE IT FURTHER RESOLVED that this notice shall continue in force until
December 31 , 1965, or until written notice of its recision or modification
has been received by said Bank.
BE IT FURTHER RESOLVED that said Bank deposit such securities that
may be approved by the Village Council in the amount and in the manner
required by law, which shall include as follows:
U. S. Treasury Notes due 10/1/69 $190,000.00
U. S. Treasury Bond due 11 /15/68 $100,000.00
U. S. Treasury Bond due 8/15/73 $100,000.00
U. S. Treasury Bond due 8/15/73 $130,000.00
U. S. Treasury Bond due 8/15/72 $ 25,000.00
U. S. Treasury Bond due 8/15/70 $100,000.00
U. S. Treasury Bond due 8/15/68 $ 50,000.00
U. S. Treasury Bond due 10/1/69 $100,000.00
AND BE IT FURTHER RESOLVED, by the Village Council of the Village of
St. Anthony, Minnesota that the Village Manager be authorized to accept
such securities as collateral , and that said collateral be deposited at
an appropriate bank within the City of Minneapolis, Minnesota for safe
keeping.
Adopted by the Village Council
January 12, 1965
Ma or
Attest:
Village Jerk Y 77 d as to form and le alit :
9
Rev ewed fo ad nistration:
c
Vila Manage Vi la Attorney