HomeMy WebLinkAboutResolution - 052754C - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 05/27/1954'3 "?. 7. q_
R E S 0 L U T I 0 N
W H E R E A S, the Citizens National Bank of Lubbock, Texas, depasitory
for the City of Lubbock, desires to substitute securities and to release certain
•2 .Copies United States Treasury Bonds pledged to secure funds on deposit; 'T H E R E F 0 IR E,
Sent Bank
5-28-54,v BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
That the Citizens National Bank of Lubbock, Texas, be, and it is hereby,
authorized to ✓ One billion and No replace 100($1 000 000.00) Dollars two and three -
P
eights (2-3/K/) per cent U. S. Treasury Bonds,of 1958, Receipt No. 47232, issued
by the Republic National Bank of Dallas, Texas, and in lieu thereof to replace
said securities with One Million and No/100 ($1,900,000.00) Dollars, two and one-
fourth (2-1/4%) per cent U. S. Treasury Bonds of June 1962-59, and further pro-
viding that bonds of similar kinds shall renain on deposit at all times adequate
to secure the City's balance with said depository.
On motion of Corm-dssioner Forrest'v , seconded by Commissioner
CarRCnter , this Resolution was passed this the _2 day of
19540 by the City Comr:issi.on by unanimous vote.
fr
ATTEST:
�64
Lav 'a Lowe, Ci(yeS�ecrary-Treasurer
SG:gf
5-26--54
40P