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<br />
<br />~ow AI I Men By These Presents:
<br />
<br />That The First National Bank of Saint Paul, a banking corporation organized and
<br />existing under the laws of the United States, and authorized to do a banking business In
<br />the State of Minnesota, in consideration of its designation as a depository of public funds
<br />of Village of Arden Hills, H. U. D. Construction
<br />
<br />as hereinafter specified, does hereby assign, transfer and set over to Village of Arden
<br />Hills, H. U. D. Construction
<br />the fol lowing securities:
<br />$60,000 Nitro, West Virginia Sewer Bonds 4 1/4% due September 1, 1977/79
<br />The said securities so assigned are herewith del ivered to the Federal Reserve
<br />Bank of Minneapol is, as custodian for the Treasurer of said Vaillage of Arden Hills,
<br />H. U. D. Construction
<br />under and pursuant to the statutes of the State of Minnesota, relat,ing to depositories of
<br />publ ic funds, and to the end that said bank shal I and wil I safely keep and pay over to the
<br />authorized officials of said Village of Arden Hills, H. U. D. Construction
<br />or their order on demand, free of exchange or any other charges, al I moneys now or hereafter
<br />deposited in such bank by said Village of Arden Hills, H. U. D. Construction
<br />at any time during the period such securities shal I be so deposited.
<br />
<br />In the case of any default on the part of said bank, Village of Arden Hills,
<br />
<br />H. U. D. Construction
<br />and/or its governing body, shal I have ful I power and authority to sel I such securities or
<br />as much thereof as may be necessary to realize the full amount of the funds so deposited
<br />by said Village of Arden Hills, H. U. D. Construction
<br />or due it from said bank, and to pay over any surplus to said bank or its assigns, it being
<br />understood, however, that the said Treasurer and/or his successor in office shall return
<br />said securities to the said bank when the trust created by such designation is terminated
<br />as provided in said bank's proposal to act as depository, and in the event of a reduction
<br />in the deposit he shal I permit the said bank to withdraw the excess portion of the securities
<br />hereby assigned as provided by law. AI I interest on such securities shal I, when collected,
<br />be paid to said bank as long as it is not in default.
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<br />Said bank, at any time it deems it advisable or desirable, may substitute under
<br />the conditions provided in said statutes obi igations of the United States of America for
<br />all or any part of the securities which have been or may hereafter be deposited by it here-
<br />under, and upon receipt of said substituted obligations by the Federal Reserve Bank of
<br />Minneapolis as custodian as aforesaid the securities replaced shal I be returned by the custo-
<br />dian to said bank and thereupon the substituted obligations shall be deemed assigned and held
<br />hereunder pursuant to at I the terms and conditions hereof.
<br />
<br />The First National Bank of Saint Paul
<br />
<br />By
<br />
<br />
<br />nt
<br />
<br />Date January 26, 1970
<br />
<br />State of Minnesota)
<br />) ss
<br />County of Ramsey )
<br />
<br />On th i s 26th day of January before me a Notary .Pub Ii c, with i n and for the
<br />;a i d County, persona II y appeared E. B. Chapin and Donald C. Badgerto me persona II y
<br />cnown, who, being Elach by me duly sworn, did say that they are respectively Vice President
<br />,nd Asst.Vice/8f8f~~Frst National Bank of Saint Paul, St. Paul, Minnesota, the corporation
<br />named in the foregoing instrument, and that the seal affixed to said instrument Is the
<br />corporate seal of said corporation, and that said instrument was signed and sealed in behalf
<br />of the said corporation by authority of its Board of Directors, and said E. B. Chapin
<br />and Donald C. Badger acknowledged said instrument to be the free act and deed of said
<br />corporation.
<br />
<br />
<br />Minnesota
<br />
<br />Q e. PRINGLE. .
<br />. ,. COllrt~t t/lii':n.
<br />Notary Public, Rar.1.sev t' 21. 1972
<br />~: Corom\s.$ian .ExpHes sep . '
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