HomeMy WebLinkAboutResolution - 112152B - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 11/21/1952R E S 0 L U TI011
MRZAS, the Citizens National Bank of Lubbock, Texas, Depository for
the City of Lubbock, has requested the release of certain bonds pledged to secure
funds of the City of Lubbock deposited with said Bank, and City of Lubbock finds
that the release of said bonds, as hereinafter described, will leave remaining
pledged bonds adequate to secure said deposits in the Depository; THEREFORE.,
BE IT RESOLVED BY THE CITY CO11dSSIOI17 OF THE CITY OF LUBBOCK:
THAT the Citizens National Bank in Lubbock, Texas be, and it is hereby
authorized to withdraw Two Million and NO/100 ($2,000,000.00) Dollars of the
Three Zillion and NO/100 (5�3,000,,000.00) Dollars, Two and Three -Eighths pereent
(2-3/8,%) U. S. Treasury Bonds of 1958, held by said Bank under Safekeeping
Receipt No. 40654 of the Republic National Bank of Dallas, Texas, and the said
Two Million and NO/100 (y>2,000,000.00) Dollars in said U. S. Treasury Bonds are
hereby released of said security of the Depositorytprovided, however, that bonds
of similar kinds shall remain on deposit at all times adequate to secure the
Cityts balance With said Depository.
On motion of CommissionerDavis , seconded by
Commissioner Thomas the foregoing resolution was unanimously
passed by an affirrative vote of the City Commission this 21st day of November,
1952.
ATTEST:
__L av nia Lowe, tyetary-Treasurer
VJIS: rr
11-24-52