1964-3350r-,
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RESOLUTION N0. 3350
RESOLUTION RELEASING COLLATBRAL OF RICHFIBLD BANK
AND TRUST COMPANY AND ACCBPTIIVG SUBSTITUTION THBRBFOR
BB IT RESOLVED bq the city counciS of the City of Richfield as follows:
1. 'That the council au thorize the release of securities:
heretofore pledged as collateral by the Richfield
State Bank in the amount of $1,119,000,00.
2. That the council approve and accept in substitution of the
aforementioned collateral, securities represented on assignor
merit of securities dated December 14, 1964 in the amount of
$1,100,000.00.
3. That the manager and director of finance be authorized to
do all things necessary to effect this release, s~sbstitu®
tion and addition. of collateral as represented by custodian rem
ceipts on file to a maximum of $1,100,000,00.
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Passed by the city council this 28th day of December, 1964.
taniey W. Olson, Mayor
AT7~3ST:
Edward J. ne, C1erk~Treas.