HomeMy WebLinkAboutResolution - 052451E - Release Of U.S. Treasury Notes - Citizens National Bank (COL Depository) - 05_24_1951 --� lE
RESOLUTION 05 24 1
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 City of Lubbock finds that the release of said bonds as here-
inafter described willleave remaining pledged bonds 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 in Lubbock, Texas, BE and it is
hereby authorized to withdraw U. S. 1-3/416 Treasury Notes, Series B-1955,
in the amount of $1, 000, 000.00, pledged under Safekeeping Receipt No. 35159
with the Republic National Bank of Dallas, Texas, and to withdraw U. S.
1-1/216 Treasury Notes, Series A-1955, in the amount of $1, 000, 000. 00,
pledged under Safekeeping Receipt No. 35156 with the Republic National Bank
of Dallas, Texas, and the said bonds are hereby released as security of the
depository, PROVIDED, HOWEVER, that bonds cf.similar kind shall remain
on deposit at all times adequate to secure the City's balance with said
depository.
On motion of Commissioner Davis seconded by
Commissioner . Thomas the foregoing Resolution was
passed unanimously by the City Commission this the 24th day of May, 1951.
- Mayor
ATTEST:
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