1953-148r~:
1~FSOLUTI GT N0. 7J.I,$ .. ..
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RESOiLUTIQN DESI(~TATING A ,~':~RY f&' VTL~,A4E ~v
FUNDS AND APPROVINQ~ COLLAT'EE~.. ~ - ~'
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BE IT. RE50LVED, by the Village Council of the Village of R~.chfield as follows s
That in accordance with the law, 'the Northwestern National Bank of Bloomington
Richfield be, and hereby is designated as a, depository of hands of the Village of.
Richfield, sub3ect to the following terms and condit3.ons:
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The said depository sha11.3~ot be required to give boaids or other securities _
for such deposits provided that the fatal sum thereof sha11 riot at any time exceed `
the sum £tir which deposits are insured under Acts of Congress of the United :States ,'
relating to insurance of bank deposits, but that 3;xt case such deposits sha7.1 at any
. _ t3.me' exceed such insured- sum said de osto ' shall~.mmedately fgurnish bonds ~or oth®a°
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seouri,ty fore such excess according to law, approved b the Villa e Council of tai, . a
~ Village of Richfield. k
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F That said depository shall pay on .demand all deposits therein; and shall pay
~: _ all time deposits, at br after the end~of the periods for which the same ~ha11- be
~~ deposited, on demand.
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BE IT FURTHER RESOLVED. That there shall be maintaixied a checkingaccoLmt in
' which sha11 be deposited all armies of 'the Sanitary Sewer Improvement No. 1 ,±
Construc_t3.on Fund, Checks on this fund shall be signed by the following off9.:~~rst v~
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. FED C: REELER, MAYOR ,°
~l ~ - - LEROY TRAFTIN, P+tANAOER
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~~. ~ w PAUL. H. - HAUGE~1, TREASURER
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~~` PASSED BY THE VIL~LA(3E CQUrTCIL THIS nth day of May 1953. `'
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ATTEST: red c. Rell 'r . - ~.' ~..
Mayor
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Paul. H. ' of ton ~~~. , ; fr
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