HomeMy WebLinkAboutResolution - 021049D - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 02/10/1949i
W&OLTJTION
WHEREAS the Citizens National Bank of Lubbock, Texas, depository for the
City of Lubbock has requested the release ofcertain bonds pledged to secure
funds of the City of Lubbock deposited with said bank and the Governing Body of
the City of Lubbock finds that the release of said bonds as hereinafter described
will leave remaining pledged bonds of a total value of approximately $2,500,000.00
which is adequate to secure said deposits in the depository, THEREFORE,
BE IT RESOLVED BY THE CITY COIATISSION OF THE CITY OF LUBBOCK:
THAT, the Citizens National Bank in Lubbock, Texas be and it is hereby authorized
to withdraw United States 2 1/2% Treasury Bonds of 1967-72 pledged under safekeeping
receipt No. 2.928 with the Dallas National Bank in the amount of $250p000.O0, and
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 City's balances with said -depository.
On motion by Commissioner ,.--Whiteside , seconded by Commissioner
Hufst a dl e r , the foregoing resolution was passed unanimously by the
City Commission on this the 10th day .of February, 1949.
ATTEST:
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