HomeMy WebLinkAboutResolution 47-07WHEREAS, the Columbia Heights State Bank has been desig-
nated as depository for moneys owned by the City of Columbia
Heights; and,
WHEREAS, said bank has furnished collateral f.or such
deposits to an amount which greatly exceeds the amount required
by law; and,
~.~-[EREAS, said bank now desires to withdraw certain col!at-
eral (U. S. Treasury !~otes !~/~ due ~/15/~7) in the amount of
~!t30, O00.O0; and,
~{EREAS, the amount of collateral remaining after with-
drawal sufficiently covers the amounts on deposit in said bank;
BE IT HEREBY RESOLVED by the City Counc'iI of the City of
Columbia ~e!ohts that the City Manager, in the absence of tb_e
City Treasurer on account of illness, b'e anthorized to request
the release Of ~!30,000.00 in securities to the Columbia Heights
State Bank now held by the First National Bank of Minneapolis.
Passed this /~ day of /~/~/~ , t947.
Offered by: "N,ff-.~ rd
~ ~aa
Seconded by: jackson
Roll Call:
Ayes: Ail
Nays:
Secretary to the Council