1954-534r
RESOLUTION N0. 534
R~OLUTION RELF,~S~NG CbLL~TER~L t~
RICHFIELD ST~.TE BANK
BE IT RESOLVED BY THE VILIA.GE COUNCIL, CF THE VILI~GE CF RICHFIELD
!~S FOLL(~i
1. That the Council. author3.ze the release of $15,000.00 County
of Ottertail, I~iinn. Road and Bridge Bonds 1.75 dus November 1, 1.954,
and $5,000.00 City of Fargo, N. D. refunding Improvement Warrants of
1951 2.60 due November 1, 1954.
2. That the Council. determines that the amount of X400,000.00
still pledged by the Richfield State Bank is sufficient collateral,
and no substitution will be required.
3. That the Director of. Finance be authorized to do a11, things
necessary to affect this release.
Passed by the village Council this 25th day of Octobers 1954.
ATTEST
~,
u ,._ Haugen, ,' lags ter
C/, I
r 0, tte , yor
Leroy ra• n,~ ager "'~
~~