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<br />"- <br />. '" <br /> " <br /> RESOLUTION NO. 1555 <br /> STATE OF MINNESOTA <br /> COUNTY OF RAMSEY <br /> CITY OF NEW BRIGHTON <br />RESOLUTION APPROVING AGREEMENT AND SUBSTITUTION OF SECURITIES <br />ASSIGNED TO CITY OF NEW BRIGHTON BY PUBLIC DEPOSITORY <br /> i <br /> WHEREAS designation of the First State Bank of New Brighton: <br />as depository of the public funds of the City of New Brighon has i <br />heretofore been authorized, and <br /> WHEREAS in consideration of its designation as depository <br />of public funds of the City of New Brighton, the First State Bank <br />of New Brighton executed agreement, approved by the City Council , <br /> I <br /> , <br />of New Brighton by Resolution Number 1504, which assigns, transfers' , <br />and sets over to said City certain securities of the total market <br />value of $650,000, and <br /> WHEREAS an additional assignment of securities reflects the <br />following pledged securities of a total amount of $850,000: <br /> $200,000 Federal Land Banks Due 1-23-78 , <br /> $200,000 Federal Nat'l Mort. Assoc. Due 3-10-78 I <br /> $200,000 Federal Home Loan Banks Due 5-25-79 <br /> $ 50,000 Federal Home Loan Banks Due 11-26-79 <br /> $200,000 U.S. Treasury Notes, Due 9-30-76 <br /> I <br /> NOW THEREFORE BE~: IT RESOLVED, That the City Council of <br />New Brighton approves the agreement, a copy of which is attached <br />hereto and made a part thereof, the securities therein specified : <br />and the assignment thereof. <br />Adopted this 13th day of May, 1975. <br />ATTEST: <br />~-t{)~ <br />Vernon C. Pederson, C1E?J;',k-Treasurer <br />I <br />( SEAL) <br />