HomeMy WebLinkAboutDepository Bonds and Pledged Securities_4 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 June 30, 2014.
MEETING DATE: August 11, 2014
AGENDA ITEM TYPE: Consent
RECOMMENDATION: Approve the depository bonds and pledged securities as of June 30,
2014.
SUGGESTED MOTION: Motion to approve the depository bonds and pledged securities as of
June 30, 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 June 30, 2014
Report compiled on: July 23, 2014
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DEPOSITORY BONDS AND SECURITIES
June 30, 2014
MATURITY CUSIP NO/LOC 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 05/15/2016 61212LJR1
$ 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
LOC-FHLB Cincinnati 7/01/2014 515685 $ 12,000,000.00
LOC-FHLB Cincinnati 7/01/2014 515901
$ 3,000,000.00
TOTAL – US Bank $ 15,500,000.00
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 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 June 30, 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
June 30, 2014
___ First Security Bank ____
___
Total
Cash & CD’s on Deposit
As of June 30, 2014 $ 5,330,326.31
FDIC Coverage
$ 250,000.00
Amount Remaining $ 5,080,326.31
Pledges required 50% $ 2,540,163.15
Actual Amount of Pledges
As of June 30, 2014
$ 3,000,000.00
Over (Under) Pledged
As of June 30, 2014 $ 459,836.85
_____ US Bank ______ ____
___
Total
Cash on Deposit
As of June 30, 2014 $ 6,314,895.92
FDIC Coverage
$ 500,000.00
Amount Remaining $ 5,814,895.92
Pledges required104% $ 6,047,491.75
Actual Amount of Pledges
As of June 30, 2014
$ 15,000,000.00
Over (Under) Pledged
As of June 30, 2014 $ 8,952,508.25
REFERENCE: Section 7-6-207, M.C.A.
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