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<br /> -.. ~ <br /> , !'lo1 <br /> RESOLUTION NO. 1504 <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 /> WHEREAS designation of the First State Bank of New Brighton <br /> as depository of the public funds of the City of New Brighton has <br /> heretofore been authorized, and <br /> WHEREAS in consideration of its designation as depository 0: <br /> public funds of the city of New Brighton, the First State Bank <br /> of New Brighton executed agreement, approved by the City Council <br /> of New Brighton by Resolution No. 1034, which assigns, transfers. <br /> and sets over to said city certain securities of the tQual market <br /> value of $445,000, and <br /> WHEREAS a new assignment of securities reflects the <br /> substitution of the following pledged securities of a total amoun: <br /> of $650,000: <br /> $200,000 Federal Land Banks Due 1-23-78 <br /> $200,000 Federal Nat. Mort. Assoc. Due 3-10-78 <br /> $200,000 Federal Home Loan Banks Due 5-25-79 <br /> $ 50,000 Federal Home Loan Banks Due 11-26-79 <br /> NOW THEREFORE BE IT RESOLVED, That the City Council of New <br /> Brighton approves the agreement, a copy of which is attached here- <br /> to and made a part thereof, the securities therein specified and <br /> the assignment thereof. <br /> Adopted this 11th day of February, 1975. <br /> Z~~ <br /> ATTEST: Mayor <br /> , ~ ;;, l' <br /> , ,... . WlM, 1/;;;1;~~od:.~ <br /> Thomas F. Lewcock, Manager <br /> ~. aQd1~ <br /> VernonC. Pederson, Clerk-Treasurer <br /> (SEAL) <br />