1955-991r`~ ~6
RESOLUTION NO. 991
RESOLUTION RELEASING COLLATERAL OP RICHFIBLD
STATE BANK
BB IT RESOLVED by the Village Council of the Village of Richfield
as follows:
1. That the council authorize the release of the following se-
curities heretofore pledged as collateral by the Richfield State Bank:
$10,000 in Meeker Cty., Minn. Ind! School District #9,
School Bldg. Bond of 1952, 2~~
$10,000 in Otter Tail Cty., Minn. Road & Bridge Bond, 2~°~
2. That the council determines that the amount of $406,000.00
still pledged by the Richfield State Bank is sufficient collateral
and no substitution will he required.
3. That the Director of Finance be authorized to do all things
necessary to effect this release.
Passed by the Viliage Council this 27th day of December, 1955.
ATTBST:
..Paul H. Ha en, Village Clerk
i ~P
Pred 0~ Rittell~ ayor
O. R.. V eves , i~tanager