HomeMy WebLinkAboutResolution - 101448E - Release Of U.S. Treasury Bonds - Citizens National Bank - 10/14/1948WHEREAS, the Citizens rational Banks depository for the City of Lubbock, has
requested the release of certain bonds placed to secure funds of the City of Lubboa;
and the City Commission finds that the release of said bonds as hereinafter stated
will leave bonds deposited of a total value of approximately $250,000.00, more than
is now necessary to cover deposits in said depository, THEFEFO1E,.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCKt
THAT, the Citizens National Bank in Lubbock, Texas, under Receipt No. 24.015,
Dallas National Bank, is hereby permitted to withdraw $750'000.00 in T.S. 2-],%2
percent Treasury Bonds of .1967-72, dated October 20, 1941 and due September 15,
1972, and said bonds are hereby released as security of the depository, PROVIDED
HOWEVER, that bonds of similar kind remain on deposit adequate to secure the
Cityts balances with said depositorys
On motion of Commissioner Nhiteside, seconded by Commissioner Spikes, the
foregoing resolution was unanimously passed by the City Commission, this the 14th
day of October, 194.5.
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