HomeMy WebLinkAboutAug 13, 19320FPIC IAL PROCEEDINGS
Special meeting called to order Aug. 15, 19Z2 at 2
members present with the exception of ~yor Welch.
All
~iotion by Gannon, seconded by Stinson, that Karrow be appointed
Chairman Pro Tem. Roll call, all ayes.
41eeting called for the purpose of repealing the resolution
passed by the Council Aug. llth, 19JY, and for the purpose of
authorizing the Federal Reserve Bank of ~inne~polis to sell
the bonds assigned to the City of Columbia Heights as collateral
for deposits in tile Col. l~at'l Bank.
Resolution offered by Tjosvold, seconded by Ga~on -
Be it Resolved by the City of Columbia Heights that the Resolu-
tion offered by 2~arrow, seconded by Stinson, and passed on the
llth day of August, 19Z£, a~ follows:
"Be It Resolved by the City Council of the City of Columbia
Heights, ~i~zue~ots, that the City ~ressurer, be and she hereby
is authorized and directed to se~l the co~later~l assigned by
the Columbia National Bank a~ security for deposits in said
Bank, at the highest price obtainable.
~e It ~.~urther Resolved, That the City Attorney and -~'~r. h. W.
~'oody be s~nd they hereby are authorized and directed to act
for the City in taking s~ny necessary leg~l action in protecting
the City in so far as ~ny deficiencies w?dch may arise from the
sale of such collateral,
Be and the same hereby is repealed.
call - ~lyes: Tjosvold, Gate, non, stinson, Karrow
i~ays: None
Resolution offered by Tjosvold, seconded by Gannon,
Be It Resolved, by the City of Columbia heights, that the City
Treasurer be authorized and directed to authorize and direct
the ~'eder~l Reserve Bank of t~innes, polis to sell the bonds
assigned to the City of Columbia Heights a~ collateral for de-
posits fn the Columbia ~ational Bank at the market price,
e It Further Resolved that s. copy of this Resolution be mailed
to the Federal Reserve Sa~zk of Mi~n~es. polis.
Roll call - Ayes: Tjosvold, Ganno~, Stinson, Karrow.
Nays: None.
Passed Aug. 1~,
~iotion by Tjosvold, seconded by Gsnnon to adjourn~ until Au~. 2Zrd
secretly to t}~e ouncil i~yor ...... ~