1957-1373r_... ~.~ . r _..._ . ,_ _ r.,. _ .., a... ~ ., .. ,~T .
'73
RESOLUTION NO. 1373
RESOLUTION RBLBASII~ COLLATERAL OF RICHPIBLD
STATB BANR AND ACCEPTING SUBSTITUTION THEREFOR
BB IT RESOLVED by the village council of the Village of Richfield as
follows:
1. That the council authorize the release of the following securities
heretofore pledged as collateral by the Richfield State Bank:
$5,00o carver county,, Minn. Ind. Sch. ~ Dist.. #32, Bch. Bldg.
Bond of 1952, 2~~ #16/20, S.K. #12493, due-?/1/57
$10,000 Triborough Bridge & Tunnel Auth. Ge« Rev. Bond, Series
A, 1-5/8~, due ?/i,/5?
$50,000 Federal Land Banks 3-3/4°x, S.K. #19629, due ?/15/5?
2. That the Council approve and accept in substitution of the aforemen-
tioned collateral the following security:
$50000 Federal Land Bank Bonds, 4-3/8%, due 7/15/58
3. That the balance of collateral in the amount of $359,000.00 is here-
by deemed to be -sufficient. '
4. That the Director of Finance be authorized to do ail things necessary
to effect this release and substitution of collateral.
Passed by the village council this 8th day of July,. 19571
ATTEST:
Paul H. Haug ,Village Clerk
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