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<br />STATE OF MINNESOTA <br />COUNTY OF RAMSEY <br />VILLAGE OF ARDEN HILLS <br /> <br />. <br /> <br />RESOLUTION NO. 71-58 <br /> <br />RESOLUTION AUTHORIZING VILLAGE TREASURER <br />TO PLEDGE SEC9RITIES <br /> <br />WHEREAS, the Treasurer explained that upon deposit <br /> <br />of funds for a municipality it is required that the deposi- <br /> <br />tary bank pledge Government obligations to cover 100% of <br />the money so deposited. <br /> <br />He also explained that it is customary for the <br /> <br />bank to pledge U. S. Treasury Notes or Bills and upon their <br /> <br />redemption, it is necessary that the Council adopt a reso- <br /> <br /> <br />lution approving the type of new securities to be pledged. <br /> <br />Upon motion, duly made and seconded, <br /> <br />RESOLVED, that the Treasurer be, and he hereby is, <br /> <br />authorized on behalf of the Council to approve the type of <br /> <br />securities to be pledged and to sign any form which may be <br /> <br />necessary or proper to approve the type of securities <br /> <br />pledged and report to the Council. <br /> <br />Passed by the Councl I of the VI I lage of Arden Hills this <br />29 day of November 1971. <br /> <br /> <br />. <br /> <br />Attest: <br /> <br /> <br />L~,o:'~t <br /> <br />Clerk Administrator <br />