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c) Authorize the transfer from the Construction Funds to <br />reimburse General Fund for monies spent in construction fund <br />in the amount of $48,644.94. <br /> <br />d) Authorize the transfer from each of the Construction <br />Funds in the amounts as indicated below to the Bond Admini- <br />strative Trust Fund 803-4957. <br /> <br />(1) Construction Fund 79-1 <br />(2) Construction Fund 79-3 <br />(3) Construction Fund 79-4 <br />(4) Construction Fund 79-5 <br />(5) Construction Fund 79-6 <br />(6) Construction Fund 79-7 <br />(7) Construction Fund 79-8 <br />(8) Construction Fund 79-9 <br />(9) Construction Fund 79-10 <br /> <br />(These figures will <br /> be available at <br /> meeting 10-9-79.) <br /> <br />e) Appointing the following banks as City Depository of <br />City funds. <br /> <br />(1) First National Bank of Minneapolis <br />(2) Northwestern Bank of Minneapolis <br />(3) Farmers and Mechanics Bank <br /> <br />Reason: The reason for wanting these banks appointed as a <br />City ~epository of funds is that the City can take advantage <br />of short term investment (24 hours and up) at a very high <br />interest rate as now we only get a pass book rate from our <br />local banks. <br /> <br />Council authorization is required on the above banks to be <br />used as a depository of funds for investment purposes. <br /> <br /> <br />