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1953-138r~~~ RESOLUTION N0. 138 RF50LUTION AUTHORIZING THE INV~STME~TT OE FUNDS. BE IT RESOLVED by the Village Council of the Village of Richfield as follows: 1. That it is hereby determined to be necessary and expedient to the public welfare of the residents and taxpayers of this village to invest the funds of this village which are not needed to meet current obligata.ons,incurred or anticipatzd -l:~or 'the conduct. of village affairs. 2. That the Mayor, Manager and Director of Finance are hereby authorized to invest the sum necessary to acquire 90-day U. S. Treasury Bills with a maturity value of ~ 250, 000.00 in the following amounts and from the following funds General Fund Liquor Store Fund x950 Improvement Fund ~ 70,000.00 face value ~ 110,000.00 face value ~ 7©,000.00 face value ~. That such investment sha11 be effected by notification to the State Bank of Richfield that such investment is desired and authorizing said bank to debit the account of this village for the amount so needed to purchase 90- day U. S. Treasury Bi11s therewith for and on behalf of the villages that said securities shall be placed in the eustody of any other bank or trust company in the City of N$nneapolis which custodial bank or trust company shall provide the village with anon-negot3.able receipt for such securities. 1~. That upon maturity of said securities the Director of Finance shall be and is hereby authorized to surrender said receipt to the custodial bank or trust company at-which time. said securities shall be presented for payment, anal the Richfield State Bank shall thereupon cofilect and receive the proceeds of such payment and credit the .same to the account of the village. ATTEST; C. REL ER ~ OR 0 ~~~ 1