HomeMy WebLinkAboutResolution - 010842A - First National Bank Authorized To Surrender To CNB Electric Light Bonds - 01/08/1942olOSW;i) A
CITY OF LUBBOCK 4qESOLTrIIQN AUMORRIZI:1G ITHURAIV L OF SL<CIT?ITIES
State of Texas First Na.tionaltBank, fort 4orth
Lubbock County Citizens National Bank, Lubbock
B; ITZ:.ii;?:a 1;D that at a regular meeting of the city Commission
of the City of Lubbock, Texas, a quorum bein-,present, it was
duly raved by Conn, issioner Jones, seconded by Commissioner
Price , an unanimously carried, that the First
7 ional Bank Fort Worth,, Texas be and it is hereby authorized and
directed to surrender to the Citizens N .tior,.al Sank, Lubbock, Texas,
each month, beginning January 10, 1942, until the total amount of
x175,000.00 has been y�aid,
5 X1,000.00 City of Lubbock Llectric Light
Improvement and "onstruction Bends
dated Feb. 100 1941, maturing in
mumerica.l order -x:5,000.00 on the 10th
day of each month be _Arming Januury
10th, 1942 and ending November 100
1944, total emount of issue being
V1750000.00
This release is made because of the fact the Oity of Lubbock
has on defosit - ith the First National Bank, Fort V orth, Tc.xe.s,
ample security to cover City of Lubbock deposits with the Citizens
National Bank, Lubbock, 'Texas, :rel to enable said Citizens Ni:tional
Ban'K to collect said bonds at maturity.
Passed and &T,, roved by unanim'-)us vote -,f the tiity Oor-.tmission, this
Oth day of January , 1942.
Mayor
lett
.y Secretary .