1957-1294r~.~~
RESOLUTION N0. 12
RBSOLUTION REII+ASING COLLATERAL OP RICHFIELD
STATE BANK
B8 IT RESOLVED by the Village Council of the Village of Richfield as.
fo Haws:
1. That the council msthorize.the release of the following
securities heretofore pledged as collateral by the Richfield
State Bank:
$2,000 in Hammond, Village o$ and Pleasant Yalley &
?3ammond, Towns of, St. Cr6ix Cty., 'Nis. Jt. Sch.
Dist. #1 Schl. Bldg. Bond, 2~%, due 3/x/5?
$5,000 in Moose Lake, Village of, Carlton Ctp., Mann.
Elec« Rev. Cert« of the Public Utii. Comm. 1952
Series, 2~%, due 3!15/5?
2. That the council. determines that the amount of $327,000.tJ0
Still pledged by the Richfield State Bank is sufficient coliat-
~ral and no substitution will be required.
3. That the Director of Binance be authorized to do ail things
necessary to effect this release.
Passed by the Village Council of the Village of Richfield this
2S'~ day of February IgS7.
r
Fred O. Kittell, Mayor
ATTEST: o o Y c, C s.ng .snag
Pa~1 H. Haug ,Village Clerk