1962-2882r
RESOT,UTXON N0. 2882
R7ESOLUTTON RBLEASING COT.IATBRA~ OF RICf~PIELD STATE
BANI{ AND ACCEFTII~ SUBSTITUTION THEREFOR
BE IT RTSOI.VED bq the Village Council ®f the Village of Richfield
as fo ilcs
1. That the council authorize the release of securi-
t3:es h~;retofore pledged as collateral bq the Richfield
Mate Bank in the amount of ~r82,v00.00.
2.. That the council. appro~re ax~t accept in substitution of
th9ey~ ~~frorementioned coliat~ral, securities in the amount of
$8?~, 000.00.
3. That the Director of Finance be authorized to do alr
things necessarq to effect this release, substitution and
addition of collateral as represented bq custodian receipts
on file to a maximum° of $700, 000,00.
I
Fassed b~q the pillage council this 12th daq of November, 1962.
W . C~3_.LO-.
Star q ~. Olson* Mayor
0. R~ Van evelen, Manager
ATTEST ~
Edward J. Mot e, Clerk-Treas.
1