HomeMy WebLinkAboutApprove Depository Bonds and Pledged Securities_3 Commission Memorandum
REPORT TO: Honorable Mayor and City Commission FROM: Laurae Clark, Treasurer
Anna Rosenberry, Finance Director
SUBJECT: Approval of depository bonds and pledged securities as of March 31, 2014.
MEETING DATE: May 12, 2014
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Approve the depository bonds and pledged securities as of March 31,
2014.
SUGGESTED MOTION: Motion to approve the depository bonds and pledged securities as of
March 31, 2014.
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, 2014 Report compiled on: April 16, 2014
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DEPOSITORY BONDS AND SECURITIES
March 31, 2014
MATURITY CUSIP NO. TOTAL AMOUNT
FIRST SECURITY BANK
All Accounts
Federal Deposit Insurance Corporation $ 250,000.00
Federal Home Loan Bank 12/12/2014 313371PC4 $ 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-Operating Accts $ 250,000.00
Federal Deposit Insurance Corporation-CD $ 250,000.00
FNMA Pool 890193 08/01/25 31410K7E8 $ 5,299,862.50
FNMA Pool AB4722 03/01/27 31417BG84 $10,908,993.17
TOTAL – US Bank $ 16,708,855.67
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, 2014, by
the banks of Bozeman and approve and accept the same.
_____________________________________________
JEFFREY K. KRAUSS, Mayor
_______________________________________ _______________________________________
CARSON TAYLOR, Deputy Mayor CHRIS MEHL, Commissioner
_______________________________________ _______________________________________
CYNTHIA L. ANDRUS, Commissioner I-HO POMEROY, Commissioner
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PLEDGED SECURITIES AND CASH IN BANK
As of
March 31, 2014
___ First Security Bank _______
Total
Cash & CD’s on Deposit
As of March 31, 2014 $ 5,321,553.49
FDIC Coverage $ 250,000.00
Amount Remaining $ 5,071,553.49
Pledges required 50% $ 2,535,776.74
Actual Amount of Pledges
As of March 31, 2014 $ 3,000,000.00
Over (Under) Pledged
As of March 31, 2014 $ 464,223.25
_____ US Bank ______ _______
Total
Cash on Deposit
As of March 31, 2014 $ 15,384,497.91
FDIC Coverage $ 500,000.00
Amount Remaining $ 14,884,497.91
Pledges required104% $ 15,479,877.82
Actual Amount of Pledges
As of March 31, 2014 $ 16,208,855.67
Over (Under) Pledged
As of March 31, 2014 $ 728,977.85
REFERENCE: Section 7-6-207, M.C.A.
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