Your original question talked about leased lines. How are you going to accommodate that with Ethernet connectivity?
To answer this new version of the question we would need to know more about what the router is doing. If there is more than one VLAN and the router is providing inter-VLAN routing then you can not do this on a 2950 but if there is only a single VLAN then perhaps you can use only the 2950. If there is more than one subnet (or network) and the router is providing routing between subnets (or between networks) then you can not do this on the 2950 but if there is only a single subnet then perhaps you can use only the 2950. If you are doing any NAT/PAT, or using Access Lists, running any routing protocol, or a number of other things on the router then you can not use only the 2950.
If you can post the config of the router then we can see exactly what the router is doing and can answer whether you would be able to use only the 2950.
Until we know entirely what your router is doing I believe that we can not really answer your question. If your will post the complete config of your router we should have enough information to answer your question.
I agree with Rick, it all depends on what your router is doing. If your router is doing any network address translation, then you can't eliminate it unless some other device takes over responsibility for NAT. And a 2950 switch can't do that.
If you get a leased line Ethernet feed, you could attach it directly to the 2950 switch. But then you would would have to use IP addresses supplied by your service provider on everything you attach to the switch. And your default gateway would be hosted remotely on the service provider's equipment. (I currently manage an ISP network that offers this capability, but most of our customers choose to do NAT so they can have more IP addresses than what we allocate them.)
EDITED TO ADD:
I just saw that you posted while I was replying. Since you aren't doing anything that specifically requires the router, you COULD get rid of it. Your leased line Ethernet hand-off would have to be either 10/100 Ethernet over copper, or Gigabit Ethernet over fiber (what I do), if it is to be connected to the 2950.
You will need to use IP addresses that are approved by your service provider, if they are going to handle all of your routing and/or Internet access needs. If they are only providing you with Layer 2 transport, bridging you to another location that uses the same subnet and VLAN, then you'll be fine using whatever IP addresses you already have.
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