1979-122147
HRA RESOLUTION N0. 122
RESOLUTION APPROVING ADDITIONAL COLLATERAL FOR THE
SUMMIT STATE BANK, A DEPOSITORY OF FUNDS OF
THE HOUSING AND REDEVELOPMENT AUTHORITY OF RTCHFIELD
WHEREAS, Resolution No. 106 designated the Summit State Bank a depository of
funds of the Housing and Redevelopment Authority of Richfield in the amount of
$400,000 and deposited for safekeeping at the Marquette National Bank of Minneapolis;
and
WHEREAS, on May 9, 1979, an additional collateral of $400,000 in securities
was deposited for safekeeping at the Marquette National Bank of Minneapolis; and
WHEREAS, on May 29, 1979, an additional collateral of $50,000 in securities
was deposited for safekeeping at the Marquette National Bank of Minneapolis; -and
WHEREAS, such collateral consists of the following securities:
$200,000 U. S. Treasury Notes
$ 50,000 Federal National Mortgage Association Bonds
$ 50,000 Somerville, Mass., General Obligation Bonds
$ 50,000 Pennsylvania State, General Obligation Bonds
$ 50,000 Anchorage Alaska Electric Utility Revenue
$200,000 U. S. Treasury Notes
$200,000 U. S. Treasury-Notes
$.50,000 Albany, New York, General Obligation Bonds
NOW, THEREFORE, BE IT RESOLVED that collateral in the amount of $850,000
deposited for safekeeping at the Marquette National Banlc of Minneapolis, is hereby
approved.
BE IT FURTHER RESOLVED by the Housing and Redevelopment Authority of Richfield
that the Treasurer is authorized to sign the custodianship receipts.
Passed by the Housing and Redevelopment Authority of ~,ichfield, Minnesota,
this 11th day of June, 1979. ~~
ren L. Law ` ° C~Yairman
ATTEST: