HomeMy WebLinkAboutApproval of Pledged Securities as of March 31, 2012 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: May 7, 2012
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Approve the depository bonds and pledged securities as of March 31,
2012.
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 March 31, 2012
Report compiled on: April 9, 2012
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DEPOSITORY BONDS AND SECURITIES
March 31, 2012
MATURITY CUSIP NO. TOTAL AMOUNT
FIRST SECURITY BANK
All Accounts
Federal Deposit Insurance Corporation $ 250,000.00
Federal Home Loan Bank 04/30/2013 313374CR9 $ 2,000,000.00
Federal Home Loan Bank 09/11/2015 313370JB5 $ 1,000,000.00
TOTAL - First Security Bank $ 3,250,000.00
US BANK
All Accounts
Federal Deposit Insurance Corporation $ 250,000.00
FHLMC Pool J13238 10/01/25 3128PSS32 $12,056,971.07
FNMA Pool 874997 11/01/14 31409MDA8 $ 7,700,367.55
TOTAL – US Bank $20,007,338.62
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 and US Bank, for the
Depository Bonds held by the Director of Finance as security, for the deposit for the City of Bozeman funds
as of March 31, 2012, by the banks of Bozeman and approve and accept the same.
_____________________________________________
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SEAN A. BECKER, Mayor
_______________________________________ _______________________________________
JEFFREY K. KRAUSS, Deputy Mayor CHRIS MEHL, Commissioner
_______________________________________ _______________________________________
CARSON TAYLOR, Commissioner CYNTHIA L. ANDRUS, Commissioner
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PLEDGED SECURITIES AND CASH IN BANK
As of
March 31, 2012
___ First Security Bank _______
Total
Cash & CD’s on Deposit
As of March 31, 2012 $ 5,239,591.04
FDIC Coverage $ 250,000.00
Amount Remaining $ 4,989,591.04
Pledges required 50% $ 2,494,795.52
Actual Amount of Pledges
As of March 31, 2012 $ 3,000,000.00
Over (Under) Pledged
As of March 31, 2012 $ 505,204.48
_____ US Bank ______ _______
Total
Cash on Deposit
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As of March 31, 2012 $ 8,734,523.13
FDIC Coverage $ 250,000.00
Amount Remaining $ 8,484,523.13
Pledges required104% $ 8,823,904.06
Actual Amount of Pledges
As of March 31, 2012 $19,757,338.62
Over (Under) Pledged
As of March 31, 2012 $10,933,434.56
REFERENCE: Section 7-6-207, M.C.A.
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