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N orthwestern UPü TE a September 2, 1989 • Formerly COMMERCIAL WEST and NORTHWESTERN BANKER • Voi 174, No. 35 IN THIS ISSUE F IR R E A Headline N ew s N ew s Briefs Coming Events ZH TO r~; LT T O T m 3 J> 2> T j JTj Q 22 1— l— w m s ID C Tj O rri T : b z o rn z ^ o Jjr : vj* • — w rn 7575 : : ;D O P IK T O C i:: 5 O 3 pi ZZ ID ? CJi 03 o https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis E n forcem en t P roceed in gs In FIR R EA This article is adapted from a speech Robert B. Whitlock, a lawyer with the Minneapolis firm Fredrikson & Byron, delivered at the Independent Bankers of M innesota an n u al convention last month. which these forces interplay, generally known as enforcement proceedings, has vastly changed. Under the old statutes and regula tions, an agency generally was required to give notice of a proposed enforce ment proceeding, such as a cease and egislation imposing sweeping desist or removal of personnel order, or the imposition of civil money penalties. changes in the financial insti tution industry was signed The party at whom the proceeding was L IB R A R Y aimed would then be given an opportu into law Aug. 9. After months of deliberation, negotiations nity for a hearing. The hearing would SEP « böS result in an advisory opinion to the gov and trade-offs, C ongress presented ern in g body of th e a g e n cy which President Bush with legislation which Of nHMNtW’OUS was acceptable to the administration brought the proceeding. The agency and deals with the savings and loan cri could then fashion the enforcem ent action as it saw fit, subject to an ulti sis. But the legislation goes far beyond mate appeal to the Circuit Court of Ap remedial action for thrifts - the legisla peals by the target. This was certainly tion significantly changes the relation ship between institutions, the people not a two-party proceeding in which e a c h p a rty had eq u al b a rg a in in g who serve these institutions, and their p o w e r - th e c a r d s w e re s ta c k e d regulators. strongly in favor of the agency. The tar One of the greatest changes caused by the legislation, designated the Finan get did, however, have the ability to de lay the proceedings and to negotiate the cial Institution Reform, Recovery and terms of an order or the amount of civil Enforcement Act of 1989 (FIRR EA ), money penalties. The target also could deals with the relationship among insti tutions, the officers and directors of an provide explanations to convince the agency to drop proceedings. institution, outside agents (such as ac Under F IR R E A , the procedure is countants, lawyers and appraisers), and changed. It deprives the institution or the enforcement agencies. The area in L Correspondent Services Division Jerry Trudo "Everyday we are called upon to give banks like yours a competitive edge. " MNB Correspondent Banker Put us on your staff, today. C a ll u s a t 319- 368-4700 Merchants National BankSSl Cedar Rapids, Iowa 52401 Member F.D.I.C. A B AN K S O F IOW A’ BANK PARTIAL LIST OF AVAILABLE BANKING POSITIONS VP TRUST DEPT MANAGER COMMERCIAL REAL ESTATE LENDER Outstanding trust market waiting for the right individual to develop. Existing $30 million trust department looking for talented manager to generate new personal trust business. Aggressive suburban bank needs a thorough, professional commer cial real estate lender with 3-5 years of middle-market calling experi ence. Familiar with all aspects of real estate lending is a plus. Busi ness development and relationship building are key. Full benefits. J0650 $50,000 c BONUS J0655 INSTALLMENT LOAN OFFICER Attention Consumer Lenders! Excellent opportunity to run existing installment loan department for $70 million rural bank. Need 5' years of retail lending experience. Collection and mortgage experience a plus. J0651 $25,000 ASSET BASED LENDER A leading asset based lender seeks a qualified, experienced candidate to manage an existing portfolio, and develop new business. Pure as set based experience is beneficial as is the ability to manage. Full benefits. J0656 AVP - COMMERCIAL LOAN OFFICER Looking for the right situation? Look no further! Aggressive rural bank is searching for an experienced commercial lender, 3* years of experience. Residential and commercial real estate background would be helpful. J0652 $30,000 Career making executive position available at $650 million commercial bank. 7* years of diversified credit experience. Responsible for the quality of bank’s loan portfolio and credit development of loan officers J0653 $ 7 0 ,0 0 0 'BONUS SENIOR LOAN OFFICER Start-up situation in recently purchased $100 million bank. New man agement is aggressive and is looking for seasoned middle market lender with proven business development skills. Must have strong documentation and credit background. Supervisory experience nice. J0654 $50,000 'BONUS COMMERCIAL LENDER $48,000 ASSISTANT CONTROLLER/COMPLIANCE OFFICER Independently owned, profitable bank needs a 1-3 year assistant controller/compliance officer. Duties include financial reporting, payroll and monitoring of bank regulations. This is an officer position with outstanding growth potential. Full benefit package. J0658 $30,000 COMMUNITY COMMERCIAL LENDER Community bank looking fora main street commercial lender. Secured and guaranteed loan experience, and community involvement are necessary. Business development success can lead to department head promotion within the near term. Full benefits. J0659 B $55,000 Top performing loop bank looking for a seasoned 3-5 year commercial lender. The ability to cross sell a full range of bank services while calling on middle market clients is essential. Tremendous benefits package as well as incentive based bonus. J0657 CHIEF CREDIT OFFICER $45,000 $35,000 ankers^ fcANKERSfp PARTIAL LIST OF AVAILABLE BANKING CANDIDATES LOAN REVIEW CONSUMER LOAN OFFICER Invaluable loan review professional with years of experience. Self starter who works on a constructive basis with lending areas. This former examiner with bank experience reviews the full range of loans. Strong, dynamic personality. A real people person with the technical ability to make your bank a lot of money. Brings over 9 years of solid consumer lending experience. Has increased loan portfolio over 45% during the last year. CA3543 $43,000 CA3548 COMMERCIAL LENDER Main street commercial lender who came up through the operations side. Knows all facets of community banking, and can make an im mediate positive impact. Thrives on community involvement and busi ness development. CA3544 TRUST OFFICER A definite plus to your trust department. Significant managerial and business development experience. Well versed in personal trust, es tate planning, estate administration, tax planning and financial plan ning. Attract significant new business with this articulate, aggressive individual. Has law degree. $40,000 CREDIT ANALYST/JR OFFICER CA3549 Top credentials. This enthusiastic MBA in finance has formal credit training and big bank experience. This candidate has extensive analy sis and structuring experience. A natural to learn a system and then move into business development. CA3545 Numbers cruncher with a personality. Certified Internal Auditor with audit experience in investments, commercial and consumer lending, pension reporting and branch operations. Responsible for over $360K of cost recoveries. Make your bank more efficient with this remark able individual. $42,000 Ambitious, business developer who exceeds budget each year. This MBA in finance successfully calls on Fortune 1000 companies in the midwest. Successfully cross-sells capital market, cash management and import/export services. A definite asset to the employer. CA3550 High energy person that thrives on hard-work. Extensive experience in middle market commercial lending with some real estate back ground. Has some supervisory experience. Strong credit skills. In creased fee income over 67% last year. MBA. CASHIER Want to get more out of your operations for less dollars? Here is someone who has done it. Creative mover and shaker who enjoys being part of the team. Has been active in several bank consolida tions, mergers and computer conversions. Over 15 years of hands-on experience. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CA3551 $49,500 LARGE BANK AUDIT MANAGER Sharp, articulate candidate has managed audit team at one of the largest US banks. Top scholastic credentials including MBA. Has ex tensive asset-based and corporate LBO experience. Can make an im mediate positive impact. $55,000 CA3552 OF CHICAGO, INC. 3340 DUNDEE RD., SUITE 2S-3 NORTHBROOK, IL 60062 1 312 480-1556 - $34,500 COMMERCIAL LOAN OFFICER $55,000 CA3547 $47,500 BANK AUDITOR COMMERCIAL LENDER CA3546 $37,500 - WORLD’S LARGEST BANKING, ACCOUNTING, AND EDP PLACEMENT SPECIALISTS © R O BERT HALF INTERNATIONAL IN C . $50,000 The tailor-made portfolio. The best-fitting suit is one that’s custom-made. And the same is true of a bank’s investment portfolio. It should be designed to fit that bank’s specific needs and managed for continuing strong performance. A correspondent bank that offers portfolio management should provide a number of services. Quality investments, of course. But also asset/liability management. Timely information on market conditions. Reliable data on current rates. And innovative investment ideas. The right correspondent bank to manage your portfolio will see to it that your investment strategies are tailor-made for you. Finding that bank requires that you ask the right questions and get the right information. United Missouri is The Information Bank. Any questions? lb UNITED MISSOURI BANK M em ber F D IC P.O .Box 4 1 9 2 2 6 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Kansas City, Missouri 6 4 1 4 1 -6 2 2 6 81 6 / 556-7200 P.O .Box 1126 St. Louis, Missouri 6 3 1 8 8 314/ 621-1000 stances; ranging from $5,0 0 0 per day per institu individual of the one significant bargain 1 2 ) . Giving agencies the right to ap tion or person for relatively minor viola ing chip held in almost every case: time. prove directors and senior executive of The agency may now commence pro tions to $1 million per day for serious ficers of institutions during the two ceedings with an order imposing at the violations; 7 ) . Imposition of increased criminal years following initial chartering or a time o f service the remedy desired, in change in control or when the institution and civil penalties for violation of the cluding imposition of civil money penal is not in compliance with its minimum Bank Holding Company Act; ties. In the event the target wishes to 8 ) . Imposition of criminal penalties for capital requirements; and contest the order or imposition, there is violation of agency orders - imprison 13) . Giving the Federal Deposit In a 20-day period during which a hearing ment not to exceed five years and/or a surance Corp. the authority to termi can be requested. The hearing is held fine not to exceed $1 million; nate deposit insurance on a more expe before an administrative law judge ap 9 ) . Imposition of penalties for partici ditious basis. pointed by the agency under rules FIRpating in the affairs of a financial institu The descriptions of the changes in REA directs that the agencies shall tion after having been the subject of a cluded in this article are necessarily adopt. Appeals from ultimate rulings are final removal proceeding or for allowing short. There is more material in FIR available in the court system. a felon to participate; REA and its legislative history. Addi Specific agency actions allowed by 1 0 ) . Imposition of penalties for failure tional information will be available from FIRREA include: the regulations the agencies adopt and, 1) . Imposition of all sanctions uponto file required reports ranging from $2,000 per day or 1 percent of the total most importantly, the way the agencies “ institution-affiliated” parties, including assets of the institution for knowingly or u se th e ir ex p a n d e d e n fo rc e m e n t accountants, lawyers and appraisers recklessly filing a false or misleading re powers in practice. It is now more true who knowingly or recklessly participate port; than ever before: the federal regulatory in prohibited transactions; 2) . Imposition of requirem ents in 1 1 ) . Requiring that final orders be agencies have the power of life and made public, except in limited circum death over a financial institution. ■ cease and desist orders for individuals to make restitution, provide reimburse Holding company formations m ent, indemnification or guarantee and other management services against loss; restrict growth; dispose of SWORDSASSOCIATES.INC. assets; rescind contracts; employ quali P R O F E S S IO N A L B A N K IN G C O NS ULTANTS fied officers; or “ take such action as the 2 Brush Creek Blvd. Kansas City, MO 64112 banking agency deems to be appropri (816) 753-7440 a te ;” 3) . Allowing the imposition of en M M LM M forcement orders on the basis of “ sig N orw est Bank Des Moines, N.A. m m m um nificant” rather than “ substantial” NORW EST BANKS C a ll (515) 245-3131 o r to ll-free (800) 362-2514 Member FDIC grounds; 4) . Imposition of enforcement orders removing individuals (including non-em ployees or directors) from affiliation with an institution. This extends to a possible industry-wide bar on the partic ipation of an individual. Proceedings may be commenced against an individual after he or she has terminated all rela M a rk C o n w a y tionships with an institution; 6). Imposition of civil money penalties T e a m w o rk : o n e o f th e re a s o n s w e ’re firs t in Io w a . , For Acquisition Financing Call On The Best Lincoln In NE: 800-742-7462 Outside NE: 800-228-9175 O m ah a In NE: 800-642-9305 ^ F irs T ie r B a n k s Lincoln - Omaha FirsTier Bank, N.A., Lincoln and FirsTier Bank, N.A., Omaha, Members FDIC NORTHW ESTERN FINANCIAL REVIEW (ISSN 1042-1254) is published 51 times per year on consecutive Saturdays commencing the first Saturday in January and ending the third Saturday in December (24 issues of a magazine published twice a month, and 27 issues of a newsletter published all other Saturdays) by Financial Communications Inc., 2850 Metro Drive, Suite 704, Bloomington, MN 55425. Telephone (612) 854-2177. Circulation audited by Audit Bureau of Circulation. Second class postage paid at Minneapolis, Minnesota 55401, and additional mailing office. Postmaster: Send address changes to Northwestern Financial Review, 2850 Metro Drive, Suite 704, Bloomington, MN 55425. Subscription Rates: United States, 1 yr. $57.00; Canada, 1 yr. $62.00; Foreign, 1 yr. $67.00, single copies $3.00. Absolutely no refunds for early subscription cancellation. N ORTHW ESTERN FINAN CIAL REVIEW does not assume responsibility for the writings or statements of others not directly connected with this publication. Reprints available from Financial Communi cations Inc., 2850 Metro Drive, Suite 704, Bloomington, MN 55425; (612) 854-2177, fax 612-854-2627. 4 NORTHWESTERN FINANCIAL REVIEW https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis H e a d l in e n e w s Thrifts Permitted To Advertise FDIC Coverage Thrifts are not prohibited from identifying themselves as “ F D I C -in s u r e d ,” a l though they may not use the FDIC logo or window decals, according to the FD IC’s re cent interpretation of the Fi nancial Institution Reform, Recovery and Enforcement Act of 1989 (FIRREA). The confusion arises from definitions contained in the bill. Although the Federal D ep osit In su ran ce C orp. fund and Savings Association Insurance Fund are separate and distinct funds, the FDIC administers both. FIRREA, furthermore, does not spe cifically prohibit S&Ls from advertising that th ey are FDIC-insured. Currently, under the thrift bailout bill, banks may dis- play either the original FDIC logo or the new SAIF logo, which replaces the FSLIC symbol. Additional FDIC regula tions regarding the disclo sure requirem ent are e x pected. Banks Can Task Force Overseeing RTC Chosen Buy Healthy S&Ls In a 6-0 vote, the Federal Reserve Board decided to let bank holding companies buy healthy savings and loan as sociations. The board’s decision is ex pected to quicken the shrink age of the S&L industry and to expand interstate banking. Dem ocrat members of a savings and loan association task force formed to oversee the Resolution Trust Corp. have been named. T h e R e s o lu tio n T ru s t C orp., which replaces the Federal Savings and Loan In surance Corp. and is charged with liquidating insolvent thrifts, is overseen by the Federal Deposit Insurance Corp. The task force is to be headed by Rep. Bruce Vento (D-Minn.). Other Democrats selected to be on the task force are Reps. John LaFalce (N .Y .), M ary Rose Oakar (O hio), C harles Schum er ( N .Y .) , B a rn e y F ra n k (M a s s .) , Paul K an jorsk i (Pa.), Gerald Kleczka (Wis.), C. Thomas McMillen (Md.), Kweisi Mfume (Md.) and Jim McDermott (Wash.). Members were named by Rep. Frank Annunzio (D- 111.), chairman of the House Banking, Finance and Urban Affairs subcommittee on fi nancial institution supervi sion, regulation and insur ance. R e p . C h a lm e rs W ylie (Ohio), ranking Republican on the subcommittee, is to name the seven Republican members on the task force, Annunzio said. COUNTONIT. Count on Commerce for superior capabilities and personal attention to your correspondent banking needs. A combination w e v e upheld for more than 120 years. Give us a call. 1-800-892-7100 1-800-821-2182 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis tm£\ Commerce Bank of Kansas City (Outside Missouri) o First Interstate We go the extra mile for you 1 800 362-1615 - - Randy Steig Ralph Weickel Correspondent Services Investment Services SE P T E M B E R 2, 1989 5 Some special candidates from Robert Half s Banking Division Loan Officer Cashier Ready to spruce up your b ank ? T h is gen eralist h a s over five y ears experience in a $35M M N orthern M innesota bank. E x p ertise includes real estate, installm ent and com m ercial lending as well as supervision of operations areas. An outgoing and flexible personality m ake th is candidate a w inning addition to any team . NFR78901 A top cash ier can really m ake a difference in your b an k ’s operations, personnel, call reports, budgets and investm ents. H as over 15 years b ank experience, is articulate, responsible and h as a “m ain stre e t” personality. Can tackle the m ost difficult p ro jects with ease. NFR78905 Earns Mid $30’s Earns Upper $20’s A g Lender Commercial Loan Officer T h is degreed candidate h as over four years ag lending experience w ith a large ou tstate financial institution. C urrently m anaging a portfolio of $6M M in ag/commercial credits. A real team player. E n jo y s com m unity involvement. Is the rig h t person for the job. NFR78902 Earns Mid $20’s H ere’s the lender with three years solid com m ercial experience th at you’ve been looking for. Is currently responsible for a $ 15MM portfolio w ith a local bank. H as form al credit and docum entation train in g and is very b u sin ess development oriented. H as the ability to be a sign ifican t contributor to your com m ercial lending departm ent. NFR78906 Trust Officer (M B A ) President/EVP Won’t be on the m ark et long! T h is candidate com bines stron g technicahadm inistrative talen ts with exceptional busin ess development skills. Along with a m a sters degree, th is candidate h a s a CFA and CLU designations. P rim ary em phasis is personal tru st but h as som e employee benefit exposure. NFR78903 Earns Mid $30’s T h is talented bankin g professional h as ten years combined experience with two su ccessfu l ou tstate banks. Unequalled experience in ag credit and bank m anagem ent along w ith a long list of bank and com m unity achievem ents. P o ssesses exceptional leadership and interpersonal skills. H as been in stru m en tal in two turnaround situations. W ill get the jo b done on tim e and on budget! NFR78907 Junior Commercial Lender https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Earns $40,000 range Vice President-Commercial Are you in need of som e experienced back-up in your com m ercial area? Our candidate h as over two y ears of experience in analysis, docum entation and loan review w ith an $80M M bank. Is flu ent in m any softw are packages including Lotus, DOS, Dbase III, etc. W ill give you the depth you need to enable your lenders to spend m ore tim e out of the bank developing new busin ess. Can relate well to custom ers and senior m anagem ent. Degreed. NFR78904 Asking $38K Looking for an all around banking pro to be your #2 person? T h is candidate h a s done it all. Is currently responsible for all lending in a $30M M ou tstate bank and also h as operations m anagem ent responsibilities. An added plus with two years O.C.C. experience. Looking for additional responsibilities with eith er a larg er or sm aller bank. NFR78908 Asking $40K Earning $18K Partial list of a Vice President-Consumer Loan Generalist Is your consum er area lack in g direction and depth? Would a consum er m an ager with over 15 years local bankin g experience bring som e stability to your b an k ? T h is outstanding candidate h a s experience in dealer finance, in stallm en t lending and light com m ercial lending. H as th e ability to bring in new b u sin ess and will m otivate your sales sta ff to new levels of achievem ent. NFR78909 NFR78912 Asking $25K Asking $35K Operations M anager (N C R ) Trust Officer Are you contem plating a change in your operations m anagem ent? H ere is the candidate for you! H as extensive experience w ith NCR in-house sy stem s in a $ 100M M bank. O ther responsibilities include investm ents and call reports. Is articu late, professional and will en su re th at your operations area ru n s like a well-tuned m achine. H as over 15 y ears banking experience. W illing to relocate for the rig h t job. NFR78910 Are you m issin g a corporate tru st officer on your line-up card? T h is candidate possesses over two years corporate tru st experience along w ith a JD degree. T ru st adm inistration experience includes investm ent of tru st a ssets, enforcem ent of requ irem ents and tru st product sales. NFR78913 Earns Low $30’s Asking $50K President Loan Review M anager-CPA T h is suburban b ank presidential candidate can handle the tou ghest projects! 15 + years of lending/credit experience w ith m ajo r holding com pany and two su ccessfu l y ears tu rn in g around a $60M M independent. Along with a stron g resum e th is candidate possesses the leadership and m anagem ent savvy. Bottom line driven. NFR78911 Do you need a roam ing cen ter fielder who can catch anything? W ith over three y ears of lending experience th is se lf-starter understands ag, consum er and light com m ercial loans. Versatile enough to w ork the teller line if needed. A great personality! Earns $70,000 E xcellen t referen ces: “Superior technical ability,” “H as a positive can-do attitud e.” If you’re looking for a no-nonsense loan review m an ager who h as a good b u sin ess sen se and excellent com m unications ability, th is is your candidate. H as nine years audit/review experience in a large holding company environm ent and is looking for additional m anagem ent responsibilities. CPA. Ready to h it the ball out of the park! NFR78914 Asking $39K For further information about these candidates contact Paul Gentzkow, Paul Bees or P. Luther LaSalle. We also are able to a ss ist you with your tem porary h iring needs. Our banking specialists are ready to work for you now. Call them today! They have successfully placed candidates in banks of all sizes in the seven state area. ing Candidates https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2800 Norwest Center Minneapolis, MN 55402 (612) 339-9001 World's largest banking, accounting and DP placement specialists ©Robert Half InterxiRtioriRl Inc 1989 N ew s B r ie f s Banks Urged To Check Treasury Checks Banks face millions of dollars in losses if they fail to train tellers on new restric tions on cashing U .S. Treasury checks, according to the American Bankers As sociation. Congress has set a limit on how long banks may honor federal checks such as Social Security checks, tax refund checks and government and military payroll checks. Beginning O ct. 1, U .S . T reasu ry checks will be negotiable for only one year after the date they were issued. Currently, any Treasury check is nego- tiable no matter how long ago it was written. The financial management service of the Treasury D epartm ent estim ates that 9.6 million government checks are at least one year old at a value of $5 bil lion. In order to help customers who cur rently hold old government checks, the law allows banks to honor any Treasury check (regardless of when the check was issued) until Sept. 30, 1990. But checks written after Oct. 1, 1989, will DOES YOUR BANK NEED AN INVESTMENT CENTER? Your benefits: • New high net worth custom ers • Added profit • R edu ced deposit loss to com petitors • Ability to offer com plete financial services For information contact: INVESTMENT 1 -8 0 0 -5 4 4 -7 1 1 3 First Dakota Building P.O . Box 279 6 Bismarck, ND 5 8 5 0 2 or P.O. Box 6 5 6 9 7 West Des Moines, 1A 5 0 2 6 5 Ob bICE O N C E PT S LTD Designers & Builders of Finencial Institutions say “ void after one year.” If they are not cashed within 12 months after they are issued, banks won’t be able to ac cept them. While the law (the Competitive Equal ity Banking Act of 1987) affects how long Treasury checks are negotiable, the customer does not lose the entitle ment to payment. But, after the check becomes void, a customer would have to contact the federal agency that autho rized the check in order to have a new check issued. The law has no effect on direct deposit or electronic transfer payments. In addition to the check-cashing dead line, the new law significantly reduces the time period that the Treasury may recover from a bank funds that have been paid over a forged or unauthorized endorsement - to one year from the current six years. The new law also gives the Treasury Department 18 months from the date a check is paid over a forged or unauthor ized endorsement - to one year from the current six years. The new law also gives the Treasury Department 18 months from the date a check is paid by the Treasury to begin funds recovery action if there has been a claim of forgery or unauthorized en dorsem ent filed by the payee. Cur rently, Treasury has six years and 180 days. Committed to your Building and Remodeling Needs Ross Schoonover Vice President 808 • 319 Broadway • Waterloo, Iowa 50704 319-234-1221 t's easier to talk Iow a banking with people w h o live it — people like Steve Brewer and the corre spondent staff at Bankers Trust. I A PA U L W . O L A N D E R ACCREDITED MEMBER A M E R IC A N S O C I E T Y O F A P P R A IS E R S ► EXPERT VALUATION COUNSEL: Call 1-800-362-1688 or 515/245-2424. BANK STOCK VALUATION LOAN PORTFOLIO APPRAISALS ► PAUL W. O L A N D E R C O M P A N Y Steve Brewer Des Moines, IA Digitized for8 FRASER NORTHWESTERN FINANCIAL REVIEW https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis M em ber FDIC A ssistant Vice President 1073 PLUMMER LANE S.W. ROCHESTER, MINNESOTA 55902 507-285-9271 CLASSIFIED A D S HELP WANTED HELP WANTED Challenging 2nd position in an innovative growth ori ented bank in Central Minnesota. General manage ment experience with emphasis on lending; responsi ble for lending function of $23MM portfolio. Excellent compensation package. Send resume and salary his tory to: file #9586 c/o Northwestern Financial R e view. Immediate entry for entry level loan officer. $20MM N o rth ea ste rn M ontana bank. Send resu m e to : B .M .I., P.O. Box 7147, Billings, M T 59103. PO SITIO N OPEN FO R LOAN O F F IC E R at the Eastwood Bank at its Rochester, Minnesota location. Prefer minimum of 3 years experience in agriculture and commercial lending. College degree required. Must be able to work independently. Attractive bene fits at a financially sound bank. All replies kept confi dential. Send resume to: Gerald W. Seitz, Eastwood Bank, 1625 Highway 14 East, Rochester, MN 55904. 8 1 5 O ffic e P ark R d., S uite 6 W e s t D es M o in e s, Iow a 5 0 2 6 5 5 1 5 -2 2 6 -0 5 1 0 PO SITIO N OPEN FO R LOAN O F F IC E R at the Eastwood Bank at its Rochester, Minnesota location. Prefer 1 to 2 years experience. College degree re quired. Must be able to work independently. Attrac tive benefits at a financially sound bank. All replies kept confidential. Send resume to: Gerald W. Seitz, Eastwood Bank, 1625 Highway 14 East, Rochester, MN 55904. Banking Opportunities in Oklahoma HELP WANTED V.P. H.R. DIRECTOR Multi-bank holding co. seeks seasoned H .R. manager to be employee relations, policies, compensation, training and development. Must have 8 + yrs H .R. exp. Prefer banking exp. Salary to $75K . Job #NFR 5175 SR. AG LENDER Are you ready for a challenge? SE MN bank seeks ag lender with 3 + yrs 'exp. Operations background and FHA guaranteed lending a plus. Salary to $35K . Job #NFR 5176 COMM’L LOAN OFFICER Do you have what it takes? $85MM bank in ND hub city seeks professional with 2 + yrs line exp. Excel lent business dev. skills and formal credit training a plus. Salary to $35K. Job #NFR 5177. CALL P. LU TH ER LaSALLE OR PAUL B E E S AT (612) 339-9001 W O BEW T HW LF OF 2800 Norwest Center Minneapolis, MN 55402 (612) 339-9001 ALL FEES COMPANY PAID PARTIAL LISTING OF AVAILABLE POSITIONS CONSUMER LENDER Firmly established institution seeks individual with 2 + yrs consumer lending exp. Person will be crosstrained into other areas of lending. Salary to $27K. PRESIDENT Multi-bank holding company needs a proven Presi dent. If you want to be part of a growth minded organi zation, and have over 10 yrs exp, this could be the job you’ve been waiting for. $48K. ALL F E E S COMPANY PAID FOR MORE INFORMATION CONTACT RANDY ROCK AT 515-244-4414 DON-ClicHOOLER In AND ASSOCIATES "Successful Banking is Quality Personnel" POSITIONS AVAILABLE TRUST SALES - P erson al T ru st & E m p lo ye e B en efits great location - bonus for s a le s .......................... $30-40,000 COMMERCIAL LENDER - retired lender, 4 days a w eek - lake area - com mercial real e s t a t e .................................. $30,000 EVP - in ch arg e o f lend ing - c o lle g e area - $ 1 0 0 M M b a n k .............................................................................$55,000 P R ES - s m a l l en ted c o u n t r y b a n k , s m a ll t o w n - a g o r i $40,000 PR ES - g o o d p erform in g bank, solid ow nersh ip - small t o w n .......................................................................$50-60,000 PRES - $2 5 M M - t o u r is t area, lake a r e a - p r e f e r upper m idw est candidate w /en ergy.....................................$45,000 COMMERCIAL LENDER - ROBERT HALF 3 1 7 6th Ave., Ste. 700 Des Moines, IA 50309 515-244-4414 POSITIONS AVAILABLE AG LENDER - manage ag lending function and assist in other lending areas in a $50MM bank. $25K COMMERCIAL LOAN - 3 yrs. commercial lending experi ence and formal credit analysis training needed. $40K PERSONAL TRUST - minimum 3 yrs. personal trust experi ence. Requires J.D . degree. $38K CREDIT ANALYST - degree and 1-2 yrs. experience re quired. Urban bank. $22K AUDITOR - minimum 2 yrs. bank auditing experience. Accounting degree required. $23K Resume and salary history requested. All inquiries confidential. B a n cF irs t is a $700 million bank with a strong capital base located in 20 eastern Oklahoma communities. Immediate positions include: Bank President EVP-LENDING Team up with a leader. $50MM + bank is looking for a commercial lender with 5 + yrs exp to supervise the loan portfolio. Great job in a nice, growing community. $43K. Serving bankers quietly and efficiently. CAPITAL PERSONNEL SERVICE area - 1 to Top location - quality bank - grow th 3 years c o m m . ...................................$28-31,000 PRES - $2 0M M - small town, well located to m etro - want #2 ready for P resid en cy ............................................. $45,000 AVP - ag & light com mercial - small tow n - top bank grow th position......................................................$25-30,000 D O N W. S C H O O L E R P la z a T o w e rs 1 7 3 6 E a s t S u n s h in e , S u ite 40 6 S p rin g fie ld , M is s o u ri 6 5 8 0 4 (4 1 7 ) 8 8 2 -2 2 6 5 BANKING $18 million dollar bank in a community o f3,000 population, one hour from major metropolitan areas, is seeking an individual with a successful lending and marketing background. Senior Vice PresidentLending $50 million dollar bank desires indi vidual with experience in real estate, consumer and commercial lending. Position is in suburban Tulsa area. Excellent school system, with many family recreational choices available BancFirst can provide selected can didates with salaries commensurate with experience, plus a fu ll benefits package For prompt consideration, send a confidential resume and salary history to: Mike Rogers, BANC FIRST, RO. Box 26788, Oklahoma City, Oklahoma 73126. B ancF irst Equal Opportunity Employer, M/F "Professional assistance in hiring and career advancem ent" TOM HAGAN & ASSOCIATES P.O. Box 12346/2024 Swift North Kansas City, MO 64116 816/474-6874 “ Serving the Banking Industry Since 1970” #2 position in $36MM bank. Handle all types of lend ing, some operations. 3 to 5 years minimum experi ence required. Send resume and salary requirements to: Box 477, Hampton, Iowa 50441. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis quality service by experienced professionals 525 Merle Hay Tower Des Moines, Iowa 50310 515-276-1151 Jean Eden 515-276-1151 Sandi Garner 515-832-1258 Tues / Wed / Fri Confidential. Fees Paid by Employer. SE P T E M B E R 2, 1989 9 C l a s s if ie d A d s HELP WANTED POSITION WANTED IMMEDIATE OPENING FOR AN AG LEN D ER for a $15MM bank located in Southwestern Minnesota. E x perience preferred but not required. Competitive sal ary and benefits. Forward resumes to File #9590 d o Northwestern Financial Review. Seeking EXECU TIV E VICE PR ESID E N T position. Dedicated professional who has managed the invest ment portfolio, the lending function, supervised opera tions, and has over 25 years of banking experience. Reply to File #9589 c/o Northwestern Financial Re view. LOAN OFFICER Opportunity for junior lender with growing multi-loca tion banking organization. Successful candidate will have a degree, three years consumer and small busi ness lending experience, excellent verbal and oral communications skills. Resume and salary history re quested in confidence. Interview candidates will be contacted. Landmark Bank P .O .B o x 70 Clear Lake, W I54005 TRUST OPERATIONS SYSTEMS MANAGER FM B -First Michigan Bank has an immediate open ing for a trust operations systems manager. The candi date will assume responsibility for the efficient and ef fective operation of the trust operations/systems area. This position requires a 4 year business degree with an emphasis in computer science or equivalent work experience, 3-5 years trust operations systems management and excellent communication skills. Ap plicant must be knowledgeable of trust compliance re quirements. The department relies on an in-house DEC/NCS series 11 system installed 1/1/89 servicing $700MM worth of assets. Experience with this sys tem is desired. We offer our employees opportunities for profes sional advancement in addition to competitive and gen erous employee benefits. If you are interested, please submit your resume outlining your experience, qualifications and salary ex pectations to: FM B -First Michigan Bank Attn: Zeeland Human Resources Dept. P.O. Box 300 Zeeland, MI 49464 EOE FOR SALE Unisys B900 System with 2 Winchester drives. Will sell complete system or by individual components. Fully certified. Call Peggy or Virgil at (218) 938-4144. Farmers State Bank, Winger, MN. FOR SALE OR LEASE: Used 924 Sq. F t. Modular Bank Building, fully equipped and ready for immediate deliv ery. Contact Les Liptak (715) 832-6866. NCR 7770 12 pocket proof, low volume and under NCR maintenance, NCR 9300 processor with 1 MB and 24 lines, NCR 6420 printer 360 LPM , NCR 6530 disc subsystem with 81 MB fixed and removable. For sale as a package or individually, contact Gary at 218/ 927-3765. a n A cz/i’i.i.ocixxtii. 40 5 M ain 5 1 5 -2 3 2 -0 8 1 4 A m e s, Io w a 5 0 0 1 0 Donald E. Holder, Principal NATIONAL ASSOCIATION OF BANK WOMEN Annual Conference Phoenix, Ariz................................................................Sept.10-13 CONSUMER BANKERS ASSOCIATION Annual Conference Orlando, Fla.................................................................. Sept.24-27 BANK MARKETING ASSOCIATION Marketing Conference Orlando, Fla.................................................................. Sept.24-27 STATE MEETINGS IOWA BANKERS ASSOCIATION Annual Convention Des M o in es.................. .................................. Sept. 17-19 MICHIGAN ASSOCIATION OF COMMUNITY BANKERS Annual Convention Grand Traverse Village.................................. Sept. 20-22 MISCELLANEOUS SCHOOLS Architectural services; site planning; space planning; modular bank buildings; portable drive-up units for sale or lease. Les H. Liptak, Inland Safe Co. Inc., (715) 832-6866. Eau Claire, WI. POSITIONS AVAILABLE AG LOAN OFFICER—Degreed— 14 years experience in a $50M bank. Currently$21K KANSAS, NEBRASKA BANKERS ASSOCIATIONS PDP Intermediate Banking Kearney, N eb..................................................... Sept. 17-22 MINNESOTA BANKERS ASSOCIATION Commercial Lending Alexandria................................................................ Oct. 1-6 EX. V.P. BRANCH MANAGER—M.B.A.— 10 years experience in all lending and investments. Currently$45K Cashier— Ex. V.P.— Degreed—20 years experience in operations and lending. Currently$40K Specializing in the Purchasing and Sale of Banks NATIONAL MEETINGS SEMINARS COMMERCIAL LOAN—Degreed—current portfolio is $24M in commercial loans—selected SBA Advocate of the Y e a r Sharp. CurrentlyJ47K Dorothy Minister, CPC 12 years experience as a Consultant GUMBERT EXECUTIVE EXCHANGE 9802 Nicholas St., Suite 370 Omaha, NE 68114 402-390-0275 f Fax 402-390-0282 BANK ADMINISTRATION IN STITU TE Executive Program F or Auditors Hanover, N .H................................................... Sept. 10-15 NACHA/NCCMA Corporate ACH Chicago............................................................... Sept. 12-13 BANK ADMINISTRATION IN STITU TE Fundamentals of Consumer Lending Chicago................................................................. Sept. 13-15 Rh, For Professional Correspondent Service Call 1-800-622-7262 INDEPENDENT BANKERS ASSOCIATION OF AMERICA Bank Internal Auditing III Minneapolis........................................................ Sept. 18-19 BANK ADMINISTRATION IN STITU TE Introduction to Loan Review I Chicago................................................................. Sept. 18-20 BANK ADMINISTRATION IN STITU TE Bank Internal Auditing II Chicago................................................................. Sept. 18-21 There J s a D ifference in Banks^... Valley National Bank Des Moines. Iowa 50304 Member FDIC Affiliate of Banks of Iowa* T ) T A Statewide Banking Corporation J D X 10 FRASER NORTHWESTERN FINANCIAL REVIEW Digitized for https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J A M E S F. M a c L E A N V ic e P re s id e n t H . P E T E R D e R O S IE R V ic e P r e s id e n t BANK ADMINISTRATION IN STITU TE Commercial Loan Documentation Chicago................................................................. Sept. 20-22 MUNICIPAL FINANCE LEGAL NOTICE NOTICE OF BOND SALE $5,185,000 MORRISON COUNTY HOUSING AND REDEVELOPMENT AUTHORITY, MINNESOTA JAIL REVENUE BONDS. SERIES 1989 (MORRISON COUNTY UNLIMITED TAX LEASE OBLIGATION) MUNICIPAL BOND CALENDAR FUS'D S e p te m b e r 4 -9 Tuesday TIME AMOUNT 11:00a.m . 300,000 S e p te m b e r 1 1 -1 6 Monday 11:00 a.m. 4,445,000 Tuesday 10:00 a.m. 5,185,000 11:00 a.m. 1,920,000 11:00 a.m. 2,925,000 1:00 p.m. 2,115,000 S e p te m b e r 1 8 -2 3 Monday 7:30 p.m. 300,000 ISSUER Golden Valley, MN (G.O. Equipment Certificates of Indebtedness, Series 1989A) Brooklyn Park, MN (G.O. Park and Fire Refunding Bonds of 1989) Morrison County, MN HRA Gail Revenue Bonds, Series 1989) Oakdale, MN (G.O. Refunding Bonds, Series 1989B) River Falls, WI (G.O. Corporate Purpose Bonds of 1989) Ogilvie, MN ISD #333 (G.O. School Building Bonds of 1989) Ham Lake, MN (G .O. Improvement Bonds of 1989) NFR Aug. 19 Aug. 26 Sept. 2 Aug. 26 Aug. 26 Sept. 2 Sept. 2 PLEASE NOTE: Send all correspondence to our new address and/or FAX number. Northwestern Financial Review, 2850 M etro Drive, Suite 704, Bloomington, M N 55425. FAX: (612) 8542627. Attn: Nadine Hunt. LEGAL NOTICE NOTICE OF REDEMPTION UNITED STATES OF AMERICA CITY OF BECKER, STATE OF MINNESOTA POLLUTION CONTROL REVENUE BOND (NORTHERN STATES POWER COMPANY PROJECT) COLLATERALIZED SERIES B 7.625% DUE 5/1/2005 CUSIP 075676AM8* NOTICE IS H EREBY GIVEN, pursuant to the terms of the First Supplemental Indenture dated as of May 1, 1975, between City of Becker, Minnesota, as Is suer, and First Trust National Association, formerly First Trust Company of Saint Paul, as Trustee, that all the bonds have been selected for Redemption on Oc tober 2, 1989 (the Redemption Date) at a price of 101% of principal amount (the Redemption Price) to gether with interest accrued to the Redemption Date. Upon the Issuer’s making due provision on or prior to October 2, 1989, for the payment of the Redemption Price and interest accrued on the Bonds in accordance with the Indenture, the Bonds shall be redeemed and shall no longer bear interest after October 2 ,1 9 8 9 . Payment of the Redemption Price and accrued inter est on the above Bond(s) will become due and payable on the Redemption Date upon presentation and sur render thereof at First Trust National Association, 180 East Fifth Street, Third Floor - Bond Drop Win dow, P.O. Box 64111, St. Paul, MN 55164-0111, https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (612) 223-7900. If presented in person, please allow a one hour period for processing your payment. If pay ment of the Redemption Price is to be made to the registered owner of the Bond, you are not required to endorse the Bond to collect the Redemption Price. Notice also is hereby given that in connection with the redemption of the Bonds, Northern States Power Company (the Company) will redeem on October 2, 1989, all of its First Mortgage Bonds, Pollution Con trol Series B (the First Mortgage Bonds) that mature after October 1, 1989, in the manner and at the price set forth in Section 3.01(ii) of the Supplemental Trust Indenture, dated as of April 1, 1975, between the Company and Harris Trust and Savings Bank, all of which First Mortgage Bonds are held by the Trustee as security for the Bonds. City of Becker, Minnesota By First Trust National Association, Trustee *The Trustee shall not be responsible for the selection or use of the CUSIP number, nor is any representation made as to its correctness indicated in the redemption notice. It is included solely for convenience of the Holders. Under the Interest and Dividend Compliance Act of 1983, 20% will be withheld if tax identification number is not properly certified. Dated: August 30, 1989 Published in Northwestern Financial Review September 2 ,1 9 8 9 Sealed bids on these bonds will be opened and consid ered for award on Tuesday, September 12, 1989, at 10:00 A.M ., Central Time, by the Board of Com missioners of the Morrison County Housing Redevel opment Authority at the Morrison County Courthouse in Little Falls, Minnesota. The bonds will be dated Oc tober 1, 1989 and interest will be payable February 1, 1990 and semiannually thereafter. The Issuer will des ignate the bonds as qualified tax-exempt obligations. The bonds will mature on February 1 in the years and amounts as follows: Year Amount Year Amount $275,000 2002 $145,000 1992 295,000 155,000 2003 1993 2004 310,000 1994 165,000 325,000 2005 170,000 1995 350,000 2006 185,000 1996 2007 385,000 195,000 1997 400,000 2008 1998 210,000 430,000 2009 1999 230,000 460,000 2010 240,000 2000 260,000 2001 All bonds maturing on or after February 1, 1999 are subject to prior payment on February 1, 1998 and on any interest payment date thereafter at a price of par and accrued interest. Sealed bids for not less than $5,100,000 and accrued interest on the principal sum of $ 5,185,000 will be accepted. An approving legal opinion will be furnished by Briggs and Morgan, Pro fessional Association, of St. Paul and Minneapolis, Minnesota. The proceeds will be used to construct an addition adjacent to the Courthouse (except for any portion of the addition not used for a jail or related purposes) for use as a jail and for related purposes in the County. Bidders should be aware that the Official Terms of Bond Sale to be published in the Official Statement for the sale may contain additional bidding terms and in formation relative to the Issue. In the event of a vari ance between statements in this Notice of Bond Sale and said Official Terms of Bond Sale the provisions of the latter shall be those to be complied with. Dated: September 2 ,1 9 8 9 BY ORDER OF THE BOARD OF COM MISSIONERS OF THE MORRISON COUNTY HOUSING AND RED EVELO PM EN T AUTHORITY Secretary Additional information may be obtained from: PUBLIC FINANCIAL SY S T E M S , IN C., 512 Nicollet Mall, Suite 550, Minneapolis, Minnesota 55402; Telephone No.: (612) 333-9177. m m k jr PUBLIC FINANCIAL SYSTEMS 512 NICOLLET MALL. SUITE 550 MINNEAPOLIS. MINNESOTA 55402 TELEPHONE: (612) 333-9177 Published in Northwestern Financial Review September 2 ,1 9 8 9 SEPTEM BE R 2,1989 11 M u n ic ip a l f in a n c e LEGAL NOTICE NOTICE OF CALL FOR REDEMPTION $1,125,000 GENERAL OBLIGATION CORPORATE PURPOSE BONDS OF 1983 CITY OF VIRGINIA ST. LOUIS COUNTY, MINNESOTA NOTICE IS H EREBY GIVEN that, by order of the City Council of the City of Virginia, St. Louis County, Minnesota, there have been called for redemption and prepayment on April 1,1 9 9 1 all outstanding bonds of the City designated as Gen eral Obligation Corporate Purpose Bonds of 1983, dated July 1, 1983, having stated maturity dates of April 1 in the years 1992 through 1999, both inclusive, totalling $775,000 in principal amount, and with the following CUSIP numbers: Year tember 15, commencing March 15, 1990, to the own ers of the Bonds appearing of record in the bond regis ter as of the first day (whether or not a business day) of the immediately preceding month. The Bonds will each be subject to redemption and prepayment on March 15, 1992, at a price equal to the principal amount thereof to be redeemed plus accrued interest. Legal opinion will be furnished by Dorsey & Whitney, of Minneapolis, Minnesota. Copies of a statement of Terms and Conditions of Sale and additional informa tion may be obtained from the undersigned or from Ehlers and A ssociates, Inc., 2950 Norwest Center, 90 South Seventh Street, Minneapolis, Minnesota 554021255 (612-339-8291), financial consultants to the Dis trict. Dated: August 22, 1989. BY ORDER OF TH E SCHOOL BOARD Majal Johnson School District Clerk Independent School District No. 333 Ogilvie, Minnesota which First Mortgage Bonds are held by the Trustee as security for the Bonds. City of Becker, Minnesota By F irst Trust National Association, Trustee *The Trustee shall not be responsible for the selection or use of the CUSIP number, nor is any representation made as to its correctness indicated in the redemption notice. It is included solely for convenience of the Holders. Under the Interest and Dividend Compliance Act of 1983, 20% will be withheld if tax identification number is not properly certified. Dated: August 3 0 ,1 9 8 9 Published in Northwestern Financial Review Septem ber 2 ,1 9 8 9 LEGAL NOTICE CUSIP 1992 927872 KD2 1993 927872 KG5 1994 927872 KK6 1995 927872 KN0 1996 927872 KQ3 1997 927872 KS9 1998 927872 KU4 1999 927872 KW0 The bonds are being called at a price of par plus ac crued interest to April 1, 1991, on which date all inter est on said bonds will cease to accrue. Holders of the bonds hereby called for redemption are requested to present their bonds for payment at the main office of Norwest Bank, in the City of Minneapolis, Minnesota, on or before April 1, 1991. Dated: July 18, 1989. BY ORDER OF THE CITY COUNCIL By Susan K. Lemieux City Clerk City of Virginia, Minnesota S P R IN G S T E D IN C O R P O R A T E D P U B L IC F IN A N C E A D V IS O R S Published in Northwestern Financial Review September 2 ,1 9 8 9 LEGAL NOTICE NOTICE OF BOND SALE INDEPENDENT SCHOOL DISTRICT NO. 333 (0GILVIE), MINNESOTA $2,115,000 GENERAL OBLIGATION SCHOOL BUILDING BONDS OF 1989 Sealed bids for the purchase of $2,115,000 General Obligation School Building Bonds of 1989 of Indepen dent School District No. 333 (Ogilvie), Minnesota, will be accepted at the School District Offices, Ogilvie, Minnesota, until 1:00 p.m ., Central Time, on Tues day, September 12 ,1 9 8 9 , when they will be opened, read and tabulated for pre sentation to and consideration by the School Board at its meeting to be held at 1:30 p.m., Central Time, of the same day. The Bonds will be issued for the pur pose of financing the acquisition and betterment of school facilities. The Bonds will be issuable as fully registered bonds of single maturities, in any denomi nation which is an integral multiple of $5,000, will be dated, as originally issued, as of September 15, 1989, and will mature on September 1 5 ,1 9 9 2 . Interest will be payable on each March 15 and Sep NORTHWESTERN FINANCIAL REVIEW https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Ehlers and Associates. Inc. LEADERS IN PUBLIC FINANCE Published in Northwestern Financial Review Septem ber 2 ,1 9 8 9 LEGAL NOTICE NOTICE OF REDEMPTION UNITED STATES OF AMERICA CITY OF BECKER, STATE OF MINNESOTA POLLUTION CONTROL REVENUE BOND (NORTHERN STATES POWER COMPANY PROJECT) COLLATERALIZED SERIES A 7.8% DUE 10/1/1994 CUSIP 075676AK2* 8 .0% DUE 10/1/2004 CUSIP 075676AL0* NOTICE IS H EREBY GIVEN, pursuant to the terms of the Indenture dated as of October 1 ,1 9 7 4 , between City of Becker, Minnesota, as Issuer, and First Trust National Association, formerly First Trust Company of Saint Paul, as Trustee, that all the bonds, maturing after October 1, 1989, have been selected for Re demption on October 2, 1989 (the Redemption Date) at a price of 100 1/2% of the principal amount (the Redemption Price) together with interest accrued to the Redemption Date. Upon the Issuer’s making due provision on or prior to October 2, 1989, for the payment of the Redemption Price and interest accrued on the Bonds in accordance with the Indenture, the Bonds shall be redeemed and shall no longer bear interest after October 2 ,1 9 8 9 . Payment of the Redemption Price and accrued inter est on the above Bond(s) will become due and payable on the Redemption Date upon presentation and sur render thereof at First Trust National Association, 180 East Fifth Street, Third Floor - Bond Drop Win dow, P.O. Box 64111, S t. Paul, MN 55164-0111, (612) 223-7900. If presented in person, please allow a one hour period for processing your payment. If pay ment of the Redemption Price is to be made to the registered owner of the Bond, you are not required to endorse the Bond to collect the Redemption Price. Notice also is hereby given that in connection with the redemption of the Bonds, Northern States Power Company (the Company) will redeem on October 2, 1989, all of its First Mortgage Bonds, Pollution Con trol Series A (the First Mortgage Bonds) that mature after October 1, 1989, in the manner and at the price set forth in Section 3.01(ii) of the Supplemental Trust Indenture, dated as of April 1, 1975, between the Company and Harris Trust and Savings Bank, all of NOTICE OF CALL FOR REDEMPTION $4,950,000 GENERAL OBLIGATION HOSPITAL BONDS, SERIES 1985 CITY OF VIRGINIA ST. LOUIS COUNTY, MINNESOTA NOTICE IS H EREBY GIVEN that, by order of the City Council of the City of Virginia, St. Louis County, Minnesota, there have been called for redemption and prepayment on February 1 ,1 9 9 3 all outstanding bonds of the City designated as Gen eral Obligation Hospital Bonds, Series 1985, dated May 1, 1985, having stated maturity dates of Febru ary 1 in the years 1994 through 2006, both inclusive, totalling $ 4,450,000 in principal amount, and with the following CUSIP numbers: Year CUSIP 1994 927872 NB3 927872 ND9 1995 927872 NF4 1996 927872 NH0 1997 927872 NK3 1998 927872 NM9 1999 927872 NP2 2000 927872 NR8 2001 2002 927872 NT4 927872 NV9 2003 2004 927872 NX5 927872 NZ0 2005 927872 PB1 2006 The bonds are being called at a price of par plus ac crued interest to February, 1993, on which date all interest on said bonds will cease to accrue. Holders of the bonds hereby called for redemption are requested to present their bonds for payment at the main office of First Trust National Association, successor in inter est to First National Bank of Minneapolis, 180 East Fifth Street, 3rd Floor - Bond Drop Window, or if by mail to P.O. Box 64111, Saint Paul, Minnesota 551640111, on or before February 1 ,1 9 9 3 . Under the Interest and Dividend Compliance Act of 1983, 20% will be withheld if tax identification number is not properly certified. Dated: July 1 8 ,1 9 8 9 BY ORDER OF TH E CITY COUNCIL By Susan K. Lemieux City Clerk City of Virginia, Minnesota S P R IN G S T E D IN C O R P O R A T E D P U B L IC F IN A N C E A D V IS O R S Published in Northwestern Financial Review September 2 ,1 9 8 9 M u n ic ip a l f in a n c e LEGAL NOTICE NOTICE OF BOND SALE $300,000 GENERAL OBLIGATION IMPROVEMENT BONDS OF 1989 CITY OF HAM LAKE, ANOKA COUNTY, MINNESOTA NOTICE IS H EREBY GIVEN that sealed bids for the purchase of the above bonds will be considered at a meeting of the City Council at 7:30 p.m. on Monday, September 18, 1989, at the City Hall in Ham Lake, Minnesota. The bonds are offered on the following term s. The bonds will be dated October 1, 1989, will bear in terest payable semiannually on each April 1 and October 1, com mencing April 1, 1989, and will mature without option of prior payment on O ctober 1 in the y ears and amounts as follows: Year Amount Year Amount 1990 $35,000 1994 $40,000 1991 35,000 1995 40,000 1992 40,000 1996 35,000 1993 40,000 1997 35,000 Bidders must specify a price of not less than $294,500 plus accrued interest. A legal opinion on the bonds will be furnished by LeFevere, Lefler, Kennedy, O ’Brien & Drawz, a Professional Association, Minneapolis, Minnesota. The proceeds of the bonds will be used to finance a portion of the costs of various assessable public improvements in the City. Bidders should be aware that the Official Statement to be distributed for the bonds may contain additional bid ding terms and information relative to the bonds. In the event of a variance between statements in this No tice of Bond Sale and the Official Statement bidders must comply with the terms of the latter. Dated: August 2 1 ,1 9 8 9 . BY ORDER OF THE CITY COUNCIL Doris Nivala City Clerk-Treasurer Published in Northwestern Financial Review September 2 ,1 9 8 9 price plus accrued interest is to be made to a person other than the registered Holder. Important Notice: In compliance with the Interest and Dividend Compliance Act of 1983 and Broker Report ing Requirement, First Trust National Association is required to withhold 20% of the principal amount of your holdings redeemed unless they are provided with your social security number or federal employer iden tification number, properly certified. This Compliance should be fulfilled through the submitting of a W-9 Form which may be obtained at a Bank or other Finan cial Institution. PO RT AUTHORITY OF TH E CITY OF SAINT PAUL By Perry K. Feders Its Assistant and Executive Vice President Inquiries regarding this notice of redemption may be addressed to the Port Authority of the City of Saint Paul, c/o Perry K. Feders, 1900 Landmark Towers, 345 St. Peter Street, St. Paul, Minnesota 55102 or may be made by telephone to 612/224-5686. Published in Northwestern Financial Review Septem ber 2 ,1 9 8 9 LEGAL NOTICE NOTICE OF SPECIAL MANDATORY REDEMPTION TO THE HOLDERS OF CITY OF SAINT PAUL COUNTY OF RAMSEY STATE OF MINNESOTA HOME OWNERSHIP MORTGAGE REVENUE BONDS NOTICE IS H EREBY GIVEN, pursuant to the provi sions of the Indenture of Trust dated as of April 1, 1979, between the City of Saint Paul, Ramsey County, Minnesota, and First Trust National Association, as Trustee, that $915,000 principal amount of the follow ing numbered Bonds of this issue have been selected for Redemption for the Special Mandatory Redemp tion on October 1, 1989 (the Redemption Date) at a Redemption Price of 100% of principal amount to gether with interest accrued to the Redemption Date. REGISTERED BONDS LEGAL NOTICE NOTICE OF REDEMPTION TO THE HOLDERS OF PORT AUTHORITY OF THE CITY OF SAINT PAUL $4,100,000 INDUSTRIAL DEVELOPMENT REVENUE BONDS OF 1982 (UNION OIL COMPANY OF CALIFORNIA PROJECT) DUE OCTOBER 1,1992 Notice is hereby given that pursuant to Section 3-1 of the Revenue Bond Resolution adopted September 28, 1982 by the Port Authority of the City of Saint Paul (the “ Authority” ) in connection with the issuance of $4,100,000 Industrial Development Revenue Bonds of 1982 (Union Oil Company of California Project) (the “ Bonds” ), the Authority will redeem on October 2, 1989 (being the first Business Day succeeding the Oc tober 1, 1989 redemption date) (the “ Redemption D ate” ) all the outstanding Bonds at 100% of their principal amount plus accrued interest to the Redemp tion Date. On and after the Redemption Date, interest on the Bonds will cease to accrue. Holders of said Bonds may present and surrender them for redemption at the office of First Trust Na tional Association, P.O. Box 64111, St. Paul, Minne sota 55164. Registered Bonds must be accompanied by proper in struments of assignment if payment of the redemption https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Principal Bond Amount Number Redeemed Interest Rate Maturity Date Cusip* R-129 $ 5,000 R-140 55,000 R-143 135,000 R-151 90,000 R-155 40,000 R-160 5,000 7.25% 7.25% 7.25% 7.25% 7.25% 7.25% 4-1-11 4-1-11 4-1-11 4-1-11 4-1-11 4-1-11 792885AW5 792885AW5 792885AW5 792885AW5 792885AW5 792885AW5 COUPON BONDS Bonds bearing the interest rate of 6.1 0 % maturing 04/01/1990, Cusip* #792885AK1 in increm ents of $5,000 are numbered as follows: 995, 1 0 1 3 ,1067, 1085 Bonds bearing the interest rate of 6.1 5 % maturing 04/01/1991, Cusip* #792885A L9 in increm ents of $5,000 are numbered as follows: 1 1 5 2 ,1 2 0 0 ,1 2 0 7 ,1 2 4 8 Bonds bearing the interest rate of 6.20% maturing 04/01/1992, Cusip* #792885AM 7 in increments of $5,000 are numbered as follows: 1 3 2 4 ,1 3 4 5 ,1 3 6 8 ,1 4 0 5 Bonds bearing the interest rate of 6.3 0 % maturing 04/01/1993, Cusip* #792885AN 5 in increm ents of $5,000 are numbered as follows: 1 4 8 6 ,1 5 1 0 ,1 5 4 3 ,1 5 4 5 ,1 6 5 4 Bonds bearing the interest rate of 6.4 0 % maturing 04/01/1994, Cusip* #792885A P0 in increm ents of $5,000 are numbered as follows: 1711,1712, 1 7 7 4 ,1 7 9 2 ,1 7 9 6 Bonds bearing the interest rate of 6.5 0 % maturing 04/01/1995, Cusip* #792885AQ8 in increm ents of $5,000 are numbered as follows: 1880, 1926, 1931, 2052, 2 0 7 9 ,2 0 9 6 Bonds bearing the interest rate of 6.6 5 % maturing 04/01/1996, Cusip* #792885A R6 in increm ents of $5,000 are numbered as follows: 2116, 2175, 2239, 2262, 2286, 2303 Bonds bearing the interest rate of 6.80% maturing 04/01/1997, Cusip* #792885A S4 in increm ents of $5,000 are numbered as follows: 2366, 2375, 2443, 2448, 2476, 2568 Bonds bearing the interest rate of 6.90% maturing 04/01/1998, Cusip* #792885AT2 in increm ents of $5,000 are numbered as follows: 2626, 2670, 2715, 2720, 2794, 2893, 2897 Bonds bearing the interest rate of 6.95% maturing 04/01/1999, Cusip* #792885A U 9 in increm ents of $5,000 are numbered as follows: 3009, 3014, 3027, 3040, 3044, 3104, 3170 Bonds bearing the interest rate of 7.00% maturing 04/01/2000, Cusip* #792885AV7 in increm ents of $5,000 are numbered as follows: 3246, 3252, 3312, 3322, 3359, 3396, 3486, 3520 Bonds bearing the interest rate of 7.25% maturing 04/01/2011, Cusip* #792885AW5 in increm ents of $5,000 are numbered as follows: 3869, 3961, 4247, 4532, 4645, 4686, 4797, 5149, 5356, 5534, 5561, 5576, 5751, 5818, 5872, 6014, 6075, 6102, 6104, 6366, 6388, 6402, 6483, 6530, 6578, 6648, 6773, 6822, 6834, 6877, 6938, 7554, 7741, 7835, 7842, 7910, 7935, 8022, 8194, 8195, 8217, 8565, 8678, 8698, 8750, 8852, 8971, 9043, 9534, 9775, 9788, 9853, 9868, 9908, 9970 Payment of the Redemption Price on the Bonds will become due and payable on the Redemption Date upon presentation in the following manner: If by mail: First Trust National Association First Trust Center Coupon Collection Dept. P.O. Box 64111 St. Paul, MN 55164 Or by hand: First Bank Minneapolis Convenience Banking 120 South Sixth Street Minneapolis, MN 55402 or First Bank St. Paul Convenience Banking 332 Minnesota Street St. Paul, MN 55101 Interest on the principal amount redeemed shall cease to accrue and be payable from and after the Redemp tion Date. If you have any questions, please call Bond holder Relations at (612) 223-7900. IMPORTANT NOTICE In compliance with the Interest and Dividend Compli ance Act of 1983 and B roker Reporting Require ments, we are required to withhold 20% of the princi pal amount of your holdings redeemed unless we are provided with your social security number or em ployee identification number, properly certified. This Compliance should be fulfilled through the submitting of a W-9 Form which may be obtained at a Bank or other Financial Institution. *Th e Trustee shall not be held responsible for the se lection or use of the CUSIP number, nor is any repre sentation made as to its correctness indicated in the Redemption Notice. It is included solely for conve nience of the Holders. Dated: August 2 5 ,1 9 8 9 By First Trust National Association (formerly First Trust Company of Saint Paul) Trustee Published in Northwestern Financial Review September 2 ,1 9 8 9 SE P T E M B E R 2, 1989 13 M u n ic ip a l F in a n c e NOTICE OF CALL FOR REDEMPTION $2,525,000 PERMANENT IMPROVEMENT REVOLVING FUND BONDS OF 1968, EIGHTH SERIES CITY OF BLOOMINGTON HENNEPIN COUNTY, MINNESOTA all outstanding bonds of the City designated as Perm a nent Improvment Revolving Fund Bonds of 1968, Eigth Series, dated October 1, 1968, having stated maturity dates of Otober 1, in the year 1990, totalling $125,000 in principal amount and bearing serial num bers 481 to 505, both inclusive. The Bonds are being called at a price of par plus accrued interest plus a premium of 1% to October 1, 1989, on which date all interest on the bonds will cease to accrue. NOTICE IS H EREBY GIVEN, that by order of the City Council of the City of Bloomington, Hennepin County, Minnesota, there have been called for re demption and prepayment on October 1 ,1 9 8 9 , Holders of the bonds hereby called for redemption are requested to present their bonds for payment at the main office of Norwest Bank Minnesota, National As sociation (as Successor to Northwestern National Bank of Minneapolis) in the City of Minneapolis, Min LEGAL NOTICE nesota, on or before October 1 ,1 9 8 9 . Dated: August 2 1 ,1 9 8 9 . BY ORDER OF THE CITY COUNCIL E . L. Woulfe City Clerk Further information: Lyle R. Olson, Chief Financial Officer, 2215 West Old Shakopee Road, Bloomington, Minnesota 55431, Telephone: (612) 881-5811. Published in Northwestern Financial Review September 2 ,1 9 8 9 Lady K iller Among many young women, smoking is viewed as stylish. It is not. Smoking is deadly. I f you smoke, please consider stopping. For help, information and support, please contact your local American Cancer Society. 14 NORTHWESTERN FINANCIAL REVIEW https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I: AM ERICAN CANCER SOCIETY® 80 YEARS STRONG EXPERIENCE! There is no substitute. That’s Right! For EIGHT DECADES We have been filling the Bonding Needs of Midwestern Bankers THE REASONS . . . SUPERIOR SERVICE MOST COMPETITIVE PREMIUMS REALISTIC UNDERWRITING PROMPT CLAIMS SERVICE IF YOU’RE NOT GETTING THE SAME FROM YOUR BONDING COMPANY . . . GIVE US A CALL - YOU’LL BE GLAD YOU DID. THE KANSAS BANKERS SURETY COMPANY RATED A (Excellent) by A.M. Best 1988 Edition DONALD M. TOWLE President DAVID E. ABENDROTH Senior Vice President 611 Kansas Avenue P.O. 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