HomeMy WebLinkAboutResolution - 072849C - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 07_28_1949 D �#9
RESOLUTION
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 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 $3,000,000*00 which
is adequate to secure said .deposits in the depository, THEREFORE,
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
That the Citizens National Bank of Lubbock, Texas be and it is
hereby authorized to withdraw $1,500,000*00 United States 2-1/2%
Treasury Bonds of 1956.68 and the $19000�000,00 United States 2-1/41
Treasury Bonds of 1966-59 pledged under safe keeping receipts as
shown by it's letter of request dated July 20, 1949 and said Bank
is authorized to substitute therefor $20000,000.00 United States
Treasury Bills due October ;13, -1949, covered by Dallas National Bank
safe keeping receipt No. 263290 PROVIDED HOER, that bonds of
similar kind shall remain on -deposit at all times adequate to secure
the ' Cityts balance with said-depository.
S ;
On motion of Commissioner ^Whiteside , seconded by Commissioner
Hufstedler�—, the foregoing Resolution was passed unanimously by
,.., was Cry -Commission this the 28 day of July, 1949.
.."..mayor
ATTEST:
ty Secre
I, Lavenia Lowe, City Secretary of the City of Lubbock, Texas hereby
certify that the above and foregoing Resolution is a true and correct
copy of Resolution passed by the
pp City Commission on t e< ate shown an of record �in 'inute Book 8 of
Recei the records of the City Commission of the City of Lubbock., Texas.
24016 This 28 day of July , 1949.
returned
to Iir.
Benson at
Bank (wit
resolutio s) -evenia Lowe
8-1-49
City Secretary
Dallas Nat 'l. Bank
receipts i# 24014 and
24016 , dated Eey 72
1948, released by this