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~ %: R~9DLUTION. T~ESIC~dAT.ING. ~'I~1; ~tlC~ff+'~`;~ SANK ~& T~U3T C~pMPAMY A ',
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: ;1~~'USITOR3C OF `FtJ~I}S 0~ "~: O~TY'bF RTCH~.U ANI~- A~T'R~V~t~: i
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BED 1T. RFJSOLVE'D by. thy. city _~duncl of ahe City of Richfield: as followsa.
That, in .accordanC~s with lair, the Ai.chfeld $anlc ,& Trust Company be; ar~d ,
. hereby is designated a depc~;.tory,of the funds of~thA r,°+;,* of Ri.ehfeld9 ,
__ sub~~~• ~o modificatioh' and revocation at any°:fime by .paid city9~: and' sub3ect _ :~ ``
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:, to the following' terms. and , conditions ~ _ ~ -
The 'said depository;, shall not be required to gyve bonds or other securi~ - > " ':
ties .for such depos~.ts provided that the tota7..sum thereof. shall not at :any • ~ ? ~-
_ ti,:me exceed°;.~.YS. -any c~epo$3.to~y the sum <for wY~3ch .its deposit~_ -are .irsu~ed
' uride~. tYie 1~cts: of Congress of` .the ; Untet~,8tates relating to insurance .pf b~k -
. depo$i;ts; •b~tt trhat i~a,_ case _ ~uoh` deposits. Sri any:. such depository shaa.l :at any;
. ~ .time exceed •~such ;insud~sum~ said depository .sh~].1 immediately furnish bonds' •
.Qr other securitg for= suc~i excess according to law' approved by the .c~.ty council= _ ..
_ ,of said- ~o$,'tye:.,.: ..
;. What s~4id< d®p4suto~y ,.~a~:], pay on :.demand .all: deposits - therein; .and shall,
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pay all`tiine depo'eite9~ at~: or after the end of :the period for which ~Yae game
sha~.l:• bQ r~pogtec~~ on demande
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$~ ~°T~;~R~. ~OLVFID~ that there sha1.1 be mantaia~ed a genera. acedtant in
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w'hioh shaXl be deposited all: ~bneys, riot otYerw~.se specifically providad. for.
r Chia-ckg : on this ~accotaxi.t~ "sha7.1 be sign~cl by the following off~.cers or"~ t~he3:r alm "'
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. St3nls~* We. OI:SOIl'p~ Mayor Alternate Aa ; P.e Ans~erson.~ COL1jlCilman " .. =`
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Ware ~.o-~ Burggraaffj Manager =`-Alternate": Leo J. Jg7.ly9 engineer ~ , "
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•~lioms,s J e, Mown, Treasurer ~ ` Altornats Ronald .Lundeen, Asst. P'inance~ Director
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" , BED IT ~'UI~TH~t R~O~,~~ .that-::, colt - . ~
ateral in .the : s~ount of $009000.00. deposited `~ r
f'or safekeeping at tie Marquette ~Banlt off' :Minrieapol3:g is` hereby approved.' .
k'assed .by 'the city counc~.l of the City of ftichf'eld this. T3th day of Januery,.. ~.
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