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<br />~ midway national bank <br /> <br />cthi b~-\: f\ <br />i/lt <br />s::::? 13 1999 __ <br /> <br />September 10, 1999 <br /> <br />Nancy Randall <br />City of Arden Hills <br />4364 W. Round Lake Rd <br />Arden Hills MN 55112-5794 <br /> <br />Dear Ms. Randall, <br /> <br />The following information is intended to provide answers to anticipated questions <br />relative to our request for a variance for the permanent location of a generator for <br />our operations center at 1315 Red Fox Road. <br /> <br />1. Why does Midway need to INSTALL a generator? <br /> <br />-- <br /> <br />Answer: Midway provides Data Processing services for over 50 <br />banks, including Midway National Bank of St. Paul. The Regulatory <br />agencies for financial institutions Le., the Office of the Comptroller of the <br />Currency (OCC) and the Federal Depository Insurance Corporation <br />(FDIC) recognizes the importance of service providers, such as Midway <br />to assure continuous operating availability for the industry. They strongly <br />encourage (require) us to have alternate power service available in the <br />event of a power outage. The emphasis on Y2K is a major factor in the <br />priority at this time. It is also considered to be a sound business decision <br />for Midway to instali the generator for long-term protection against power <br />outages and enhances our new business opportunities. <br /> <br />2. Why is timing of the installation urgent? <br /> <br />Answer: The banking industry is highly regulated and the Y2K <br />deadline is rapidly approaching. Our Regulatory Agency requires us to <br />have the generator installed and fully tested to meet our Y2K commitment. <br /> <br />-- <br /> <br />apple valley 14295 cedar ave.' apple valley, minnesota 55124' 612-431-4700' fax: 891-8720 <br />burnsville 14300 nicollet court. bumsville, minnesota 55306' 612-892-5585' fax: 892-5658 <br />saint paul 1578 university ave. W.' saint paul, minnesota 55104' 651-628-2661' fax: 643-8518 <br />