HomeMy WebLinkAbout76-01RESOLUTION
Date 5 January , 1976 Resolution No. 76 -
Motion by Clarkson
Seconded by Curry
WHEREAS, the Lakeville City Council wishes to appoint depositories
for the year 1976 for checking account and investment purposes,
NOW THEREFORE BE IT RESOLVED that:
1. The Mayor and Clerk be authorized to execute the required
documents with depositories named below including signature cards and
agreements.
2. The following banking institutions are hereby named deposi-
tories subject to the maximum deposits and collateral requirements as indi-
cated below:
MAXIMUM AMOUNT COLLATERAL TO BE UPDATED
BA1,K OF DEPOSIT FROM TIME TO TIME
1.
First
Natl. of Lakeville
$1.1 million
2.
Midwest
Federal of Lakeville
$100,000
3.
F.N.B.
- St. Paul
$1.5 million
4.
N. W.
Nat'l Bank - Mpls.
$1.5 million
5.
1st of
Mpls.
$2 million
6.
Minn.
Fed. Savings, St. P.
$100,000
7.
Nat'l.
City Bank of Mpls.
$2 million
8. Home Fed. Savings, Bloomington $100,000
9. Twin City Fed. Savings, Mpls.$100,000
10. N. W. Bank, Hastings $500,000
11. First Fed. Savings, Hastings $500,000
DATED THIS 5th DAY OF JANUARY, 1976
ATTEST:
City Clerk
$1.1 Million + $100,000 FDIC ins.
FSLIC Ins. on $100,000
Cont. upon availability of
collateral, FDIC.
Cont. on availability of
collateral, FDIC.
Cont. on availability of
collateral, FDIC.
$100,000 FSLIC ins.
Various - to submit at investment
time.
FSLIC - $100,000 Ins.
FSLIC - $100,000 Ins.
FDIC - $100,000 Ins.
FSLIC - $100,000 Ins.
t C
Mayor