HomeMy WebLinkAboutMinutes - City Council - Regular - 5/31/1939RECESSED REGULAR KEETING.
Lubbock, Texas,
May 31, 1939.
The City Comission of the City of Lubbock, Texas, met at 1:30 P.M.
in Recessed Regular Session, recessed from Regular Meeting of May
251 1939, at the regular meeting place in,the amity Hall, the follow-
ing members thereof being present, to -wit:
Mayor C E Slaton, Commissioners tiJ G 1'ellillan, W B Price, J A
Fortenberry, Hub Jones.
Absent: Commissioners 17J G McMillan and J A Fortenberry.
The Minutes of Accounts allowed from Warrant No. 18301 to
Warrant No. 20000, both inclusive, were read and upon motion by
Commissioner Price, seconded by Commissioner Jones, they were
unanimously approved.
Hotion by Commissioner Jones, seconded by Commissioner Price, the
foIlowing Resolution carried unanimously.
RESOLUTION
BE IT RIZIEKBERED: That the Citizens National Bank of Lubbock
placed with the First National bank of Fort Worth additional
securities to cover the guarantee of the amity's funds, and upon
motion by Coru:iissioner Jones, seconded b.,r Corunissioner price,
carried unanimously, that the City accept the additional securities.
VIIIEREAS, by Ordinance No. 528, passed and approved on the 24th
day of January, 1935, the Citizens National Bank of Lubbock, Texas,
was selected as the Depository of the funds of the �'ity of Lubbock,
Texas, to be secured by Deposit of permissible securities under
the Statutes of this State, and
Z'MREAS, the said The Citizens National Bank has plaeeu with the
First National Bank of Fort Worth, Fort Worth Texas, securities
for the purpose of covering deposits of this 6ity with such
depository in compliance with such selection and said Ordinance
No. 528, which said securities are described as follows:
5 - $10,000.00 #286871-5 incl., U.S. Treas. Bills dated 5-24-39.
2-$100,000.00 #169821-2 due 8-23-39, without interest.
$2509000.00
which are held to the joint account of the Depository and
this City for indemnity to the Uity;
Now, there- fore, BE I'^ RESOLVED b;T the city Commission of the
City of Lubbock, 'Texas, that the 6ity of Lubbock, Texas, does here
ratify and confirm such deposit and the terms thereof, and the
individual securities as being acceptable and in compliance with the
ordinance selecting the depository, insofar as the face of such
securities do not exceed the sums of the City on Deposit with said
The Citizens National Dank of Lubbock, Texas.
Passed and approved by unanimous vote of the Uity Commission, this —{
the 31st day of May, 1939.
C E Slaton_
Wayor
Attest:
Lavenia Williams
City Secretary.
No further business coming up for consideration, the pity Cor:imission
Recessed to meet June 1, 1939, at 1:30 V.K.
Read and approved this the 8th day of Ju e
a or
At t:
ity 3B cretary.