1956-1234r~~
RB,SOLUTION NO. 1234
R85OLUTION RE~Iv'.SING COLLATERAL PR~t
NORTHI~P~TBRN NATIONAL BANK
88 IT RESOLVBD by the Village Council of the Village of Richfield
as follow:
i. ghat the council authorize the release of the ftlilctwi:fg gecllr»
ides heretofore pledged as collateral by the Northwestern National Bank
of Bloomington-Richf field which will mature on December 1~ 195b:
$100,000 U.S. Treasury Bonds 2i% due November 15, 1961.
$100,000 U.S. Treasury Bonds 2~°1. due August 15t 19b3.
2. That the council approves the p]e dge of $200,000.00 U.S.
Treasury notes 2 3/4%. due August l,. 1957 in substitution therefor.
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3, That the council determines that the amount of $428,000.00
pledged by the Northwestern National Banat of Bloomington-Richfield is
sufficient collateral,
4, That the Director of Pinance be authorized to ~ all things
necessary to effect this release.
Passed'by the village council of the Village of Richfield,
November 26, 1956.
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ATTESTS
-~rd'
Paul H. Hauge Village Clerk
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Pred O. Kittell,, Mayor
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O. Ran Kr~ireien„ Manager