Loading...
R1275 R E S O L U T I O N NO. 1275 WHEREAS, under the provisions of Section 7.080 of the Plan of The Metropolitan St. Louis Sewer District, the Board of Trustees of the District is directed to select annually one or more banks or trust companies, situated in the District, for the deposit of all funds of the District and any subdistrict, and WHEREAS, the Board of Trustees is directed to require each such bank or trust company to furnish certain security for the amount of deposits with said bank or trust company, NOW, THEREFORE, BE IT RESOLVED that the following banks and trust companies be, and the same are hereby, selected as depositaries for the funds of the District and all subdistricts for the Fiscal Year 1972-73 for the general and special funds and accounts of the District and all subdistricts: American National Bank in St. Louis Baden Bank of St. Louis Bank of Concord Village Bank of Crestwood Bank of Overland Bank of St. Ann Bank of St. Louis Big Bend Bank Boatmen's National Bank Bremen Bank & Trust Co. Cass Bank & Trust Co. Central West End Bank Chippewa Trust Co. Citizens Bank of University City Citizens National Bank of Greater St. Louis City Bank The Clayton Bank The Colonial Bank Commerce Bank of Kirkwood Commerce Bank of University City Commercial Bank of St. Louis County Continental Bank & Trust Co. Creve Coeur Bank & Trust Co. Fidelity Bank & Trust Co. First National Bank in St. Louis First National Bank of Clayton First National Bank of Wellston First North County Bank and Trust Co. First Northwest Bank First State Bank & Trust Co. Florissant Bank Gateway National Bank of St. Louis Gravois Bank Hampton Bank of St. Louis Jefferson Bank & Trust Co. Jefferson-Gravois Bank of St. Louis Lemay Bank & Trust Co. Lewis & Clark State Bank Lindbergh Bank 3 Lindell Trust Co. Manchester Bank of St. Louis Manufacturers Bank & Trust Co. Mark Twain Northland Bank Mark Twain South County Bank Mercantile Commerce Trust Co. Mercantile Trust Co. National Assn. Missouri State Bank and Trust Co. Mound City Trust Co. Normandy Bank North St. Louis Trust Co. North Side Bank Northwestern Bank & Trust Co. Pine Lawn Bank & Trust Co. Pioneer Bank & Trust Co. St. Johns Community Bank St. Louis County National Bank of Clayton South Side National Bank in St. Louis Southern Commercial & Savings Bank Southwest Bank Tower Grove Bank & Trust Co. United Missouri Bank of Ferguson United Missouri Bank of Kirkwood Valley Bank of Florissant Webster Groves Trust Co. West Side National Bank 4 BE IT FURTHER RESOLVED that the approval of the Board of Trustees shall be secured by the Secretary-Treasurer prior to the transfer of funds from one depositary to another depositary, except such transfers as may be required from time to time for current payment of bond interest and principal, or such transfers as may be required for the equalization of funds in the various depositaries. BE IT FURTHER RESOLVED that as a condition precedent to the deposit of funds of the District, or of funds held by the District, each of said banks and trust companies shall deposit with the Federal Reserve Bank of St. Louis, or with a disinterested National Bank located within the boundaries of The Metropolitan St. Louis Sewer District, as escrow agent or trustee, securities of the kind and character as provided in Section 30.270, Revised Statutes of Missouri, 1949, as amended, equal in market value to the amount of the deposits of the District and subdistricts in each of said banks or trust companies, for the security of funds deposited by the District. PROVIDED: That, upon increase of deposits in each of said banks and trust companies, such banks and trust companies will make additional deposits of securities of like kind and character with the Federal Reserve Bank of St. Louis, or with a disinterested National Bank located within this District, as escrow agent or trustee, equal in market value to the amount by which deposits are increased. PROVIDED FURTHER: That each of said banks and trust companies may, at any time withdraw any of the securities so deposited upon 5 depositing in lieu thereof other securities of like kind and character and at least equal in market value of the securities withdrawn. PROVIDED FURTHER: That securities so deposited shall be pledged to secure payment by the pledging bank or trust company of District funds on the check or checks of the District, and that such securities shall be released and delivered to the District on its sole demand made to the Federal Reserve Bank of St. Louis, or a disinterested National Bank located within this District, as escrow agent or trustee, as the case may be, in the event that such pledging bank or trust company should fail to pay such secured funds, or any part thereof, on the check or checks of the District, and that securities so released and delivered to the District shall be converted into money and the District shall use the same in lieu of such secured funds. 6 The foregoing Resolution was adopted May 31, 1972.