RES 1959-014 - 00012946RESOLUTION NO. 14 - 1959
RESOLUTION AUTHORIZING DEPOSITS
OF SECURITIES
WHEREAS, the City of Fridley has acquired
certain securities, and it is desired that a suitable place
of safekeeping shall be provided in order that said securities
shall be deposited for the account of this City subject to the
written instructions of its duly authorized officers,
NOW, THEREFORE, BE IT RESOLVED that any or
all of the securities from time to time belonging to the City
of Fridley may be deposited with Northwestern National Bank of
Minneapolis in a custodian account and that the Treasurer and
City Manager of this City are authorized to make and execute
any and all agreements on behalf of this City in connection there-
with, provided said agreements are first approved by the City
Council,
BE IT FURTHER RESOLVED that said Northwestern
National Bank of Minneapolis is hereby authorized and directed
to act upon written instructions in respect to the sale, delivery
or other disposition of any of the securities deposited in this
account provided said instructions are signed by the Treasurer
of this City. Said Bank is further authorized, without additional
specific instructions, to remit all moneys received by it repre-
senting principal or income on the securities in said custodian
account to this City.
PASSED AND ADOPTED THIS 12TH DAY OF
NCH, 1959 by the City Council.
YOR - Frank
ATTEST:
CITY CLERK - Marvin C. Brunsell
Jr.
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