HomeMy Public PortalAboutR1275 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
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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
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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
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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.
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The foregoing Resolution was adopted May 31, 1972.