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<br />J ~ <br /> <br />. <br /> <br />St. Paul, Minnesota <br /> <br />At a regular meeting of the Executive Committee of the Board <br /> <br />of Directors of The First National Bank of Saint Paul, held at their banking <br /> <br />house June 10, 1947, the fol lowing resolution was adopted: <br /> <br />RESOLVED, That whenever this bank is authorized or permitted <br /> <br />by any law now existing or hereafter enacted to act as a depository for funds <br /> <br />of the United States or any subdivision, department, agency, or officer thereof, <br /> <br />or of any State of the United States, or of any subdivision, department, agency, <br /> <br />or officer thereof, the president or any vice president, together with the <br /> <br />cashier or any assistant vice president or any assistant cashier of this bank <br /> <br />are authorized and empowered on behalf of this bank, upon such terms and con- <br /> <br />ditions as they deem best, to: <br /> <br />(a) Make application to be designated as any such depository; <br /> <br />(b) Agree to the terms and conditions upon which this bank <br /> <br />wi II hold and repay the funds deposited with it; <br /> <br />(c) Assign and/or pledge its assets to secure any such de- <br /> <br />posits; and, <br /> <br />(d) Deliver to the Federal Reserve Bank of Minneapolis the <br /> <br />assets so pledged or assigned. <br /> <br />I hereby certify that the above is a true copy of a resolution <br /> <br />duly adopted by the Executive Committee of the Board of Directors, at which a <br /> <br />quorum was present and voting, and which remains in ful I force and effect. <br /> <br /> <br />1 <br /> <br />~L <br /> <br />Secretary of t~ <br />ommittee of the Board <br />rs <br /> <br />(SEAL) <br /> <br />F-873 <br />