1958-1755r_ _ __
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RESOLUTION NO. 1755
RBSOLUTION RELEASING COLA TERAL OF RICHPTELD
STATE BANK AND ACCEPTIArG SUBSTITUTION THEREPOR
BB TT RESOLVED by the V311age 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 Banks
$100000 Pederal Land Bankst 2~q% due 5-1-59
5,000 Hubbard Co. Ind, School Dist. #1, 24%, due 1-1-59
2. That the council approve and accept in substitution of the
aforementioned colla tera3: the following securitiesx
$39'500 U. S. Treasur Bonds 3~% due 5-15-$5
, y r a s
73,.000 (par amount? Various Municipalities
3, That the above collateral listed in detail on assignment of
securities in the Clerks Pile including additional collateral
in the amount of $7500 be and the same is hereby approved.
4. That the balance of collateral in the amount of $627,.500
is sufficient.
5. That the Director of Pinance be authorized to do all things
necessary to effect this release, substitution and addition of
collateral,
Passed by the Village Council this 8th of c , 1958.
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Irvin R. Keldsen,, Mayor
Cam' %..
0 __ Van K evelen„ Manager
ATTEST:
Edward J. ine, Clerk