HomeMy WebLinkAboutApprove Depository Bonds & Securities as of June 30, 2010.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: August 9, 2010
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Approve the depository bonds and pledged securities as of June 30,
2010.
BACKGROUND: Section 7-6-207 (2), MCA, requires the City Commission to approve
pledged securities at least quarterly.
UNRESOLVED ISSUES: None
ALTERNATIVES: As suggested by the City Commission
FISCAL EFFECTS: None
Attachments: Depository Bonds & Pledges Securities Report as of June 30, 2010
Report compiled on: June 22, 2010
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DEPOSITORY BONDS AND SECURITIES
June 30, 2010
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% 10/28/2011 392096043 $ 800,000.00
Federal Home Loan Bank 1.200% 10/28/2011 392096043 $ 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
June 30, 2010, 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
June 30, 2010
___ First Security Bank _______
Repurchase All other
Agreement Accounts Total
Cash on Deposit
as of June 30, 2010 $ 3,156,947.93 $ 453,862.92 $ 3,610,810.85
FDIC Coverage $ 250,000.00 $ 250,000.00
Amount Remaining $ 3,156,947.93 $ 203,862.92 $ 3,360,810.85
Pledges required
104% for Repo
50% for all other accts $ 3,283,225.85 $ 101,931.46 $ 3,385,157.31
Actual Amount of Pledges
as of June 30, 2010 $ 5,480,000.00 $ 1,000,000.00 $ 6,480,000.00
Over (Under) Pledged
as of June 30, 2010 $ 2,196,774.15 $ 898,068.54 $ 3,094,842.69
REFERENCE: Section 7-6-207, M.C.A.
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