HomeMy WebLinkAboutResolution - 092552D - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 09/25/1952RESOLUTION
WHEREAS, 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 the 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 C0141ISSION OF THE CITY OF LUBBOCK:
.. THAT, the Citizens National Bank in Lubbock, Texas, BE and it is hereby
authorized to withdraw U. S. 2-3/8% Treasury Bonds, 1958, in the amount of One
Million and NO/100 (01,000,000.00) Dollars, pledged under Safekeeping Receipt
No. 39939 with the Republic National Bank of Dallas, Texas, and the said bonds
are hereby released as security of the depository, PROVIDED, HOWEVER, that bonds
of similar kind shall remain on deposit at all times adequate to secure the Cityts
balance with said depository.
On motion of Commissioner Davis , seconded by
Commissioner Thomas N, the foregoing Resolution was passed
unanimously by the City Commission this the _25th c;ay of September , 1952.
ATTEST:
Cit Secretary -T ..asurer
CP.M: rr
9-27-52
i
'Haig' Morriss Mayor Pro -tem