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1964-3282r~~ RESOLUTION N0. 3282 RESOLUTION RELEASING COLLAT~dT. OF RTCHF'IELD STATE BANK AND ACCEPTING SUBSTITUTION TIiFF'OR BE IT FtESOL'PED blr the Village Council of the Village of Richfield as f©llows: 1. That the council authorise the release of securities heretofore pledged ae collateral bar the Richfield State Bank in the amount of $1.009000,00. 2. That the council approve and accept in substitution of the .aforementioned collateral9 secu~.ties represented on custodial receipt dated August 13, 196i~ in the amount of X102,000.00. _ 3, That the Director of Finance be author3.~ed to do all thirds necessary to effect this release, substitution and addition of collateral as represented bar custodian receipts on fil® to a maximum of $1.,1199000000. Passed by the Village Council this 2~th day of .August, 1961.x. tsJ . C tanl,ey W, Olson9 Ma~ror .ATTEST s 0, an re~re en9 anager ~cC'~~-l i~Z~~zQ~ Edward ~. Mo x Clerk- ~°eas. 1 it -6- Bonds - ~',P. No. 50~i village as to the correctness of al]. statements contained Chereon. 9. St is hereby deterrni.ned that there is at the present time an amount in excess of X100,000 in the Improvement Bonds of 1951 Sinking Fund which will not be required for other purposes prior to August 1, 1966. Z0. It is hereby determinP~ *~ purchase the aforementioned X100,000 temporary improvement bond, Series 21 upon its initial issuance in ac- cordance with the provisions of Mirmesota Statutes9 Section 171.56 and 175,66, out of funds in the Improvement Bonds of 195. Sinking Fund and on behalf of said fund, at par and accrun~. interest as of the date of delivery of said bonds and completion of ~kch sale, it being further determined to be reasonable and advantageous to the 196. street Improve- ment and Oiling Program to invest in said temporary improvement bond, Series 21 and it being further determined to ~ reasonable and advan- tageous to the village to sell said temporary improvement bond, Series 21 an accordance with the provisions of this resolution. 11.. The village manager, mayor and finance officer are hereby author- ized and directed to take any and X11 steps necessary to affect the pro- visions of the foregoing resolutions and to make such transfers of funds as may be necessary from time to tame, to give effect to the provisions thereof. Passed by the village council this 2~,th day of august 196t~, ln1- C9..R-~.~-. S anley .Olson, Mayor 0. an evelena Manager ATTEST: ~~~~ ~~~~ ward ,Moll e, erk-Treasurer 1