The URL can be used to link to this page

1954-275r11 RFSOLUTION NO. 275 RESOLUTION DFSICKATING THE RICHFIELD STATE BANK A DEPOSITORY OF FWM OF THE VILLAGE OF RICHFIELD FOR THE YEAR 1954 AND APPROVING COLLATERAL, BE IT RESOLVED by the Village Council of the Village of Richfield as follows: That, in accordance with law, the Richfield State Bank be, and hereby is designated depository of the funds of the Village of Richfield, sub- ject to modification and revocation at any time by said Village, and subject to the following terms and conditions: The said depository shall not be required to give bonds or other securities 'for such deposits provided that the total sum thereof shall not at any 'time exceed in any such depository the sum for which its de- posits are insured under 'the Acts of Congress of the United States relating to insurance of bank deposits; but that in case such deposits in any such depository shall at any time exceed such insured sum, said depository shall immediately furnish bonds or other security for such excess according to law, approved by the Village Council of said Village. That said depository shall pay on demand all deposits therein; and shall pay all time deposits, at or after the end of the period for which the same shalt be deposited, on demand. BE IT FURTHER RESOLVED, that there shall be two checking accounts maintained. The first shall be a general fund in which shall be deposited all monies not otherwise specifically provided for. Checks on this fund shall be signed by the following officers: Fred O. Ki ttell, Mayor Leroy Traf ton, Village Manager Paul H. Haugen, Treasurer ._:__... .:1�..l:.ni�`�_':t;.:.a.'.��.__ ,. .,.+c..n.y_ ��_v:£��5� -.i:_. ... ..�...�:s�:__._ .... -.... __.- �._,_. __'. -._:, : -- •..�- _:.sr. ._._. �__.�.- ��4r<"*":, • ! „ -ry � MY'..• 2 .gam � T ,. i"'S ��' ��i'}.t �'i��h. � 7 � �� i � Y � Y� f :i �" :: v`Y= n Resolut3,on" i�o♦ �r0t7 Y z to ° ' Second, axe shall. alas© be, v*$A zed ,a village payroll. aac oun There shall be issued a single check aemi- monthly 'for an amount equal to a the semi-monthly village payroll„ payable to the Village Director of Finance for deposit in such payroll account. Thereafter, the Zirector of Finance -le authorized to issue payroll checks on said account,. bearing only his signature as Village Treasurer for all wages or salari*e� included in said semi- mont2h3Y pakYrou. BE IT FURTHER RESOLVED, that .collateral in the amoun t of I�82,000. , y deposited-for safe keeping at, -the Marquette National Bank of Minneapolis, ` u be and hereby is approved. " Adopted by the Village Council" this 11th day , of January 19540 4 1 f' i f f` ATTEST s. a � 4