HomeMy WebLinkAboutResolution - 020839A - Citizens National Bank Requests To Continue Acting As The Depository For The COL - 02/08/1939Lubbock, Texas.
February 8, 1939.
Hon. City Commission,
City of Lubbock,
Lubbock, Texas.
Gentlemen:
It is our understanding that the depository
contract which we have had with the City of Lubbock,
expired on December 31, 1938. WO desire to be named as
depository for the succeeding two nears from that date,
and offer to secure the City with United States Government
bonds during this period, for the full amount of their
deposit with us. The National Banking Act of 1935 pro-
hibits the paying of interest by any member of the Federal
Reserve System to anyone; therefore we are not allowed to
pay any interest on any demand deposits.
We appreciate the very cordial relations -�,,hich
have existed between this bank and the City of Lubbock,
and if we are selected again, we will try to render ,you
the very best service possible.
Respectfully submitted,
CITIZE %S EATIO ,AL BANK
By ,