HomeMy WebLinkAboutApproval of Pledged Securities Commission Memorandum
REPORT TO: Honorable Mayor and City Commission FROM: Laurae Clark, Treasurer
Anna Rosenberry, Finance Director
SUBJECT: Approval of Pledged Securities
MEETING DATE: November 5, 2012
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Approve the depository bonds and pledged securities as of September
30, 2012.
SUGGESTED MOTION: Motion to approve the depository bonds and pledged securities as of
September 30, 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 September 30, 2012
Report compiled on: October 8, 2012
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DEPOSITORY BONDS AND SECURITIES
September 30, 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 $ 9,955,612.46
FNMA Pool 890193 08/01/25 31410K7E8 $ 5,352,798.05
TOTAL – US Bank $15,558,410.51
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 September 30, 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 September 30, 2012
___ First Security Bank _______
Total
Cash & CD’s on Deposit
As of September 30, 2012 $ 5,257,841.79
FDIC Coverage $ 250,000.00
Amount Remaining $ 5,007,841.79
Pledges required 50% $ 2,503,920.90
Actual Amount of Pledges
As of September 30, 2012 $ 3,000,000.00
Over (Under) Pledged
As of September 30, 2012 $ 496,079.10
_____ US Bank ______ _______
Total
Cash on Deposit
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As of September 30, 2012 $ 13,280,753.34
FDIC Coverage $ 250,000.00
Amount Remaining $ 13,030,753.34
Pledges required104% $ 13,551,983.47
Actual Amount of Pledges
As of September 30, 2012 $ 15,308,410.50
Over (Under) Pledged
As of September 30, 2012 $ 1,756,427.03
REFERENCE: Section 7-6-207, M.C.A.
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