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: February 4, 2013
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Approve the depository bonds and pledged securities as of December
31, 2012.
SUGGESTED MOTION: Motion to approve the depository bonds and pledged securities as of
December 13, 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 December 31, 2012
Report compiled on: January 11, 2013
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DEPOSITORY BONDS AND SECURITIES
December 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 $ 9,186,424.77
FNMA Pool 890193 08/01/25 31410K7E8 $ 4,700,805.65
FNMA Pool AD6918 06/01/25 31418UVL5 $ 7,905,697,39
TOTAL – US Bank $ 22,042,927.81
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 December 31, 2012,
by the banks of Bozeman and approve and accept the same.
_____________________________________________
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
December 31, 2012
___ First Security Bank _______
Total
Cash & CD’s on Deposit
As of December 31, 2012 $ 5,268,552.43
FDIC Coverage $ 250,000.00
Amount Remaining $ 5,018,552.43
Pledges required 50% $ 2,509,276.22
Actual Amount of Pledges
As of December 31, 2012 $ 3,000,000.00
Over (Under) Pledged
As of December 31, 2012 $ 490,723.78
_____ US Bank ______ _______
Total
Cash on Deposit
As of December 31, 2012 $ 13,068,446.02
FDIC Coverage $ 250,000.00
Amount Remaining $ 12,818,446.02
Pledges required104% $ 13,331,183.86
Actual Amount of Pledges
As of December 31, 2012 $ 21,792,927.81
Over (Under) Pledged
As of December 31, 2012 $ 8,461,743.95
REFERENCE: Section 7-6-207, M.C.A.
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