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~` 4 4 REGULAR MEETING, TUESDAY, JANUARY 8, 1952 Present: H. L. Henry, Mayor George J. Shavor, Trustee Arthur A. Lindi g, " Clarence Rekstad, " Clyde J. Stewart, Clerk Ralph Van Hoven, Treasurer ~deeting called to order at 7:40 P.M., and minut~l-es of December 26, 1951 meeting heard and approved as read. Acting ~ Appointment of an acting Mayor was considered. George Shavor Mayor was nominated. There being no further nominations, Shavor was declared duly appointed to the office of Actfng Mayor. Legal The following resolution was moved by Shavor, seconded by Rekstad, Newspaper and adopted unanimously: RESOLVED, That the Rose Tribune, a legal newspaper of general circulation in the Village of Falcon Heights, be and it hereby is designated as the official newspaper of the Village of Falcon Heights, in which shall be pu ~lished such ordinances and other matter as are required by law to be so published, and such other matters as the Council may deem it advisable and in the public interest to have published in this manner for the year 1952. Bank On motion by Henry, seoond ed by Lindig, the following resolution Depository was passed by a unanimous vote: RESOLVED, That Falcon Heights State Hank of Falcon Heights, Minnesota, be and hereby is designated as a depository for the funds of the Village of Falcon Heights, and that the Village Treasurer is authorized to deppsit village funds therein to the amount of forty-five thousand dollars (X45,000.00). RESOLVED FURTHER, That the present collateral furnished by Falcon Heights State Bank consisting of forty thousand dollars ($40,000.Op), face value, of U. S. government obligations, accompanied by an assignment providing that in case of default on the part of Falcon Heights State Bank the council has full power and authority to sell the collateral or so much as may be necessary to realize the full amount due the municipality, is hereby approved, said collateral having a market value in excess of lOf over the amount of the above authorized depeeit in excess of the amount guaranteed by the Federal Deposit Inauranee Corporation. RESOLVED FURTiiER., That cheoks of the Village of Falcon Heights drain upon the said bank account shall be honored by said bank only if signed by all three of the following: H. L. Henry, Mayor; Clyde J. Stewart, Clerk; and Ralph Van Hoven, Treasurer RESOLVED FURTHER, That this designation shall be effective only until the ®nd of the present counoil year, and that a copy of the resolution duly certified by the Clerk be delivered to the Falcon Heights State Bank.