1954-450r~~
RE,SOLII~ION N0. I~50
RESOLITrION RELE41S211~f COLLATERAL OF
RICHFIELD STATE BANK
BE IT RESOLVED BY THE VILLAGE COUNCIII OF THE VILLAGE OP'
RICHFIELD AS FOLLC~TS ;
1. That the Council authorize the release of ~5t000.00 City of
Madison South Dakota Water Works and Sewage Disposal Plant bonds
Lake County, 2~ No*s. 10 tYxough ].4 due August 1= 195lt, which
have been heretofore pledged as collateral by theRichfield State
Bank,
2, That the Council determines that the amount of ~p1~20,000.00
sti11~ pledged by the Richfield State Bank is sufficient collateral.,
and no substitution wi].7. be rega. fired.
3, That the Director o~ Finance be authorized to do all things
necessary to affect this releasem t
Pass-ed by .the Village Counc'a..l this 26th day of Julys 1~~..
red ' tte ,Mayor
t11 1~~ ~
9
Paul ug ~ ~ Vil ge Clerk Leroy tong ager