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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