HomeMy WebLinkAboutDec 3, 19370FFI C I AL PROCKEDINGS
Special meeting called to order Dec. 3rd, 195~. All mem
Meeting called for the purpose of acting on the bank Pro
business which might come before the meeting.
~ers oresent.
oosition and any other
Resolution of£ered by Severson, seconded by Pritchard -
THE CITY COUNCIL 0F THE CITY OF COLU~BIA HEIGHTS HEREBY
Heights State Bank of the City of Columbia Heights be an
gnated as the official depositary of the checking acooun
Heightw, from and after the oassage of this resolution a
year 19~7 and for the year of 19~8: Provided however, t~at this designation shall
remain in force and effect only so long as the said Columbia Heights State B~nk
shall keep deposited with the City Treasurer of the Cit~of Columbia Heights surety
bonds in the oenal sum of twice the amount of the CitY'~funds held on deposit by
the said ~ depositary: and provided further that in ~ieu of such corporate surety
~SOLV~S. That the Columbia
the same hereby is desi-
of the City of Columbia
~d for the remainder of the
bond, the said deoositary may deposit with the City Trea
Heights, togather with assignments thereof to the City o
bonds as are authorized to be deposited in lieu of a S~Lr
Mason~s ~innesota Statutes, 1927, which bonds s~all h~ve
ten (10%) per cent more than the amount of the City's fu
Oositary, hnd p~evided further that all coroorate surety
assignments thereof deoosited with the City Treasurer p~
must be aporoved by the City Council of the City of Colu
Roll call - Ayes: Bentzen, Pritchard, Severson, Woh!ford
amrer of the City of Columbia
f Col-mmbia Heights, such
ety bond by Section 197S-1
a mmrket ~alue of at least
nde on deoosit with said de-
bonds or other bonds and
rsuant to this resolution
~oia Heights.
, Bassett. Nays: None.
Motion by Bentzen, seconded by Severson, to accept the ~ol~owing collateral offered
by the Columbia Heights Sta~e Bank:
SAC,000. of Home Owners Y~an Corooration Bonds due July let,
and drawing 2~% interes, being 4 bonds for $10,Q00. each, numbered
~m~~X 13,562.-$-4-5. ,
$8000. Stste of South Dakota Rural Credit Bonds Idue Dec. let, 19z~O
and dr~ingS~% interest, being 5 bonds for $1000. each mzmbered
(Total market value $45,856.)
Roll call - Ayes: Bentzen, Pritchard, Severson, Wohlfor~, Bassett. Nays: None.
Motion by Severson, seconded by Wohlford, that the recudst of the Ca'shier of the
Columbia Heights State Bar. k , viz: that the City TreasuSer be authorized to handle
th~ security offered ~ outttng them in a deoosit box i~ the let Nat'l Bank & Trust
Co of Minneaoo]is registered in her name, al~o an offioC~r o£ the bank jointly, be
granted. Ro~l call - Ayes: Bentzen, Pritchard, Severoo~, Wohlford, Bassett.
Nays: None. I
Motion by Pritchard, secondeA by Bentzen, that the following judgments be paid out
of the proper funds:
James French - Judgment
Int. Apr 4 - 36 to Dec.6/~7
Walter Cot~reli - J~dgment
Int. Nay 16 - 86 to Dec.6/S7
$499.
Roll call - Ayes: Bentze.~, Pritchard, Bassett.
Nays: Severson, Wohl£ord.
Carried.
Motion by Pritchard, seconded by Wohlford, that the platting of Oak Park be
acceoted. Roll call - Aye£: Pritchard, Wo~Llford, Bassett.
Ben, zen, Severson, absent.
Motion to adjottrn by Pritchard, seconded by WO~lford.
Sec ~
~ary ~/~