HomeMy WebLinkAboutResolution 32-29 H Resoi~tion approYing the Sale by the Federal
Reserve Bank of }~,~in~aapolis of the bonds held as
Collateral for Deposits in the Columbia National
Bank by the City of Co!urabia Heights, and releasing
the Federal Reserve Bank of ~finneapotis from all
liability om account of such bonds.
V~HEREAS, the Feaeral Reserve Bank of ~inneaooiis
was holding cart in bonds deposited by the Columbia
N~ational B~nk as collateral for deposits of the funds
of the City of Columbia Heights in the Columbia ~{ational
Bank, and
'¢~H~EAS,pursuant to the order and request of the
City of Cotuzabia Heights, said Bonds have been sold by the
~ederal Reserve Bank of N{inneapo!is, and the proceeds
thereof paid over to the Treasurer~ of the City of Columbi a
~e i gat s,
N0¥VTPLEREFORE BE IT RESOLVED, That the Federal Reserve
Bank of Minneapolis, be and the sssae hereby is released
from all liability to the City of Columbia Heights on
account of the bonds held as collateral for the deposi'~
of funds of the City of Coitu~abia Heights in the Columbia
National Bank.
Offered by ~-// Seconded by
CaLl ~,L.,¢. ,
Secreta'~to the Council. -