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� <br /> FINANCIAL MANAGEMENT DEPAR'I'MENT <br /> #93 - 25 <br /> August 11, 1993 <br /> T0: The Honorable Mayor and City Council Members <br /> FROM James C. Bacon, Jr. , City Manager <br /> Beth B. Couter, Financial Management Director ���- <br /> �-- <br /> SUBJECT: Joint Custody Account <br /> The City has a joint custody account for collateralization <br /> of the City' s deposits at Ma.gna Bank. Previously Magna used <br /> the Federal Reserve at Chicago for this account . Magna is <br /> transferring all their federal reserve accounts to St. Louis <br /> from Chicago and they have requested the City' s account also be <br /> transferred to St. Louis. The attached resolution allows for <br /> . this transfer. <br />