HomeMy WebLinkAboutApprove the Depository Bonds and Pledged Security.pdf Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Laurae Clark, Treasurer
Anna Rosenberry, Finance Director
Chris Kukulski, City Manager
SUBJECT: Approval of Pledged Securities
MEETING DATE: February 22, 2010
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Approve the depository bonds and pledged securities as of December
31, 2009.
BACKGROUND: Section 7-6-207 (2), MCA, requires the City Commission to approve
pledged securities at least quarterly.
FISCAL EFFECTS: None
ALTERNATIVES: As suggested by the City Commission.
Attachments: Depository Bonds & Pledges Securities Report as of December 31, 2009
Report compiled on: January 28, 2010
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DEPOSITORY BONDS AND SECURITIES
December 31, 2009
RATE MATURITY RECEIPT NO. TOTAL AMOUNT
FIRST SECURITY BANK
Repurchase Agreement Account
Federal Home Loan Bank 2.100% 01/26/2012 392094131 $ 1,680,000.00
Federal Home Loan Bank 2.000% 09/14/2012 392097575 $ 2,000,000.00
Federal Home Loan Bank 1.200% 07/27/2011 392093283 $ 800,000.00
Federal Home Loan Bank 1.250% 06/16/2010 392088745 $ 1,000,000.00
Sub-Total $ 5,480,000.00
All Other Accounts
Federal Deposit Insurance Corporation $ 250,000.00
Federal Home Loan Bank 3.250% 10/17/2011 392076550 1,000,000.00
Sub-Total $ 1,250,000.00
TOTAL - First Security Bank $ 6,730,000.00
This is to certify that we, the Commission of the City of Bozeman, in compliance with the provisions of
Section 7-6-207, M.C.A., have this day certified the receipts of the First Security Bank, for the Depository
Bonds held by the Director of Finance as security, for the deposit for the City of Bozeman funds as of
December 31, 2009, by the banks of Bozeman and approve and accept the same.
_____________________________________________
JEFFREY K. KRAUSS, Mayor
_______________________________________ _______________________________________
SEAN BECKER, Deputy Mayor CHRIS MEHL, Commissioner
_______________________________________ _______________________________________
CARSON TAYLOR, Commissioner CYNTHIA L. ANDRUS, Commissioner
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PLEDGED SECURITIES AND CASH IN BANK
All Accounts, including Repurchase Agreement Account
as of
December 31, 2009
___ First Security Bank _______
Repurchase All other
Agreement Accounts Total
Cash on Deposit
as of December 31, 2009 $ 3,311,510.07 $ 480,862.15 $ 3,792,372.22
FDIC Coverage $ 250,000.00 $ 250,000.00
Amount Remaining $ 3,311,510.07 $ 230,862.15 $ 3,542,372.22
Pledges required
104% for Repo
50% for all other accts $ 3,443,970.48 $ 115,431.08 $ 3,559,401.56
Actual Amount of Pledges
as of December 31, 2009 $ 5,480,000.00 $ 1,000,000.00 $ 6,480,000.00
Over (Under) Pledged
as of December 31, 2009 $ 2,036,029.52 $ 884,568.92 $ 2,920,598.44
REFERENCE: Section 7-6-207, M.C.A.
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