1956-1253r~a~
R$soLVTTON No.
RBSOLUTTON RBLPAST13GiG COLLATERAL PROM
RTCHFIBLD STATE BANK
HB IT RESOLVED by the Village Council of the Village of Richfield as
follows: .
1. That the council authorize the release of the foiiow-
ing securities heretofore pledged as collateral by the
Richfield State Bank which wi11 mature an January 1~ 1957:
$5.,000 in Meeker Cty., Minn., ISD ~#9, ScYiooi Sldg.
Bond of 1952, 24%. ,
$5,000 in Otter Taii Cty., Minn. Road and Bridge
Bond, 2q°lo ,
2. That the council determines that the an~unt of $339,000
still pledged by the Richfield State Bank is sufficient co1-
lateral and no substitution will be required.
3, That the Director of Finance be authorized to do a1i
things necessary to effect this release.
Passed by the Village Council of the Viiiage of Richfield this
10th day of December, 1956.
ATTEST:
Paul ,Haug ,, Village Clerk
._
f~
Fred O. Kittellfi Mayor
O. an velen, Manager
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