1953-144r,f ~ ~ R~-SOLUT~:CN NO,. « _ _ ~ { a
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A RBSO~,UTION DESIC~TATIN(~ A DEP(~ITOR'SC OF FUNS ~'.
OF THE V.LLLAGE OF RICHFIE~~3 FOR THE YEAR 1953. ~>
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` ~ - BE I T RESOLVED, by .the Village :Council of the V3.llage of Richfield as follows s
x 1. That, in accordance with the law, the Northwestern .National Bank of
Bloomington- Richfield be, and hereby is designated a depogitory for
i:., such funds of the .Village of Richfield as the Council shall hereafter
~ • speeif'y, subject to modification and revocatiari at any time b~ said ~•
V3.llage, and subject to the. following farms and conditions:.
,~, ~ . 2. They-said depositAx~r sha7J. nQt be required .to give bonds or -other securities '`
~~ for such deposits .provided that the total sum thereof shall-not at any
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time exceed in any such depository the sum for which its deposits are
~ ~ ~ ~ insured under t1~.e Acts of Congress of the United States relatLng to insurance;;
~ of bank deposits; but that in .case such. deposits in any such depos3.to~r
L. shall at any time exceed such insured sum, said. depository sha11 immedi.~.~ly '~~
famish bonds or other security for such excess according to law; approved _ -
k_. ~ by the Village .Council of said Village.
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k . 3; That said depository shall. pay on demand .a],1 deposits therein; and sha71 `,f
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•~> pay all t3.me: deposits,. at or after- the -end of the periods for which the
same shall be depositzd, on. demand, ~ ~~
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- Li..~ That checks on these deposits-shall be signed by the follo~zi.ng:offieq~;~
' Fred C,, Relle r, ~ Mayor
Leroy- Trafton, Village Manager
Paul H. Haugen, ~ ' Treasurep~:.:~
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5.: That the S~n nary Viewer Fund monies not now invested sha7~l be deposited ~',
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`• with said depository and proceeds from bond issues for sanitary setaer~ i
- construction shall hereaftter' be deposited with said depository a~ ~ t1~r' ~•
become:. available.
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~~ Passed by .the Village Courici~. this 27th day~ef April, 1953.
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~-~L ,ter'
`" ATTESTS C. REL.
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