1982-19976
RESOLUTION NO. 199
RESOLUTION PLEDGING ADDITIONAL COLLATERAL
FOR THE SUMMIT STATE BANK, A DEPOSITORY OF
FUNDS OF THE HOUSING AND REDEVELOPMENT
AUTHORITY
WHEREAS, on February 16, 1982, Resolution No. 189 designated
the Summit State Bank a depository of funds of the Housing and
Redevelopment Authority of Richfield; and deposited for safe-
keeping at the Marquette National Bank of Minneapolis the
amount of $353,600; and
WHEREAS, on March 22, 1982, $200,000 in U.S. Treasury Notes
due December 31, 1982 were released from safekeeping; and
WHEREAS, On May 10, 1982, $400,000 of U.S. Treasury Notes
was deposited as additional collateral for safekeeping at the
Marquette National Bank of Minneapolis, $20Q,000 due December
12, 1982 and $200,000 due May 15, 1988;
THEREFORE, BE IT RESOLVED, that collateral in the full
amount of $00,000 deposited for safekeeping at the Marquette
National Bank of Minneapolis is hereby approved.
Passed by the Housing and Redevelopment Authority of
Richfield this 17th day of May, 1982.
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omas E. r s Chairman
ATTEST:
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~D
Michael Freeman Secretary
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