CCMin_71Jun24 - Laserfiche WebLink

Home Browse Search

. ~~,ETIivG OF JUNE 21~, 1971 3069 The regular meeting was called to order at x:15 P.i%~. h~th the following members present : -~yor ~:~arkentien, Councilrr~r~ 31ack, Stone and Taylor. Also present were Clerk Printon, engineer Ler~iberg and Attorney Seed. Councilman Ecki.und ar- iv~d at iO:CO P.I~i. l~inut es ru"arkentien rrioved that the minutes. of the June IG, i971 meeting; be approved as corrected. Black seconded and the motion carried. ~tOne riiOti~ec.i :",il~a.`~ ~.itilE' r~ilnu`..8s Of thE' ~•ipEClal meeting Of June i7, 1971 be approved. Taylor seconded and the motion carried. Falcon :-ieights Stone moved that the foiloti.ing resolu~i on be adopted: A ;:,fate Bann i~;OJLUTIOPy TO IP~C~A:7i; COL.LATi.+~1L~ Iu;~~i,'Ii~~~E:v~i'S ^10 ~u0O,OOO. isepo si tory Lesolution - 71-4: rtr;SOLVLD that the Falcon Heigi;ts Cta~.e Bank of i4'~.~.on Heights, i~~innesota, be and is hereby designated as deposi- tory for the .funds of the Village of ralcon iiei~;<+.:~ and the funas therein to the amount of four-hundred thousand dollars (:~4OO,COCi) . l'j-~LT~;~i rt il'it~~ ;::rat the collateral shall be furnish- . ed bti the ralcon Heights State Bank in lieu of the corpor- ate surety bona .~ccy~.,~~~ed bf :iat~., consisting of three- hundred eighty-five thousand dollars (~33~,000) face of U. S. Govex-ru.lent Ob:~i~;~;. ~; ~ ons wccompanied by an assignment providing that in case of defau7_t on the part of the Falcon Heights ;;fate Bank, ties Courisil has full po~c:r and author- ity to sell the collateral or so much as may be necessary to realize the ful'i amount due the rrunica.p~,+,i ~_~:ST. ~~SOLTLD FUitTHLft that checks of the Village of Falcon Heights d-rac-;n upon the said bank account sl;w'_ be honored by said bank only if signed by the I3yor and Clerk-Treasur- er of the Village of Falcon Heights, i~_,:~nesota. In ab- sence of any one or more o.f the above, the acting h;ayor's signature shall be honored in place of the Piayor, and the Beputy-Clerk-Treasurers signature sha11 be honored in place of the Clerk-Treasurer. :~SOLV?~'~ FiTizTHl:~i that this designation shall 'oe ef- fective until the endof the present calendar year providing; tide depository is located within the Viiiage of Falcon Heights during +.,his time. Black seconded anti h< r~otio~: c<:L:~ried. Correspondence: Various letters of correspondence were read and ordered • filed.