HomeMy WebLinkAboutResolution - 042452B - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 04_24_1952 .R. ,.
0424 52�
RE,SOLUT101I
iEIMAS, the Citizens i�vationELI Ban'> of Lubbock, Texas, Depository
for the City of Lubbock, desires to substitute securities and to release car-
tain U. S. Treasury Notes, Series A-1955, THEREFORE,
BE IT RLSOL`rED �'Y Tim CITY COir�.ZSSIO'iI OF TITS CITY OF LU3BOC;K:
THAT, the Citizens National Bank of Lubbock, Texas be and it is
3 copies hereby authorized to replace Three Million and 110/100 (.".,31000,000.00) Dol-
sent to lars, One and One-half Percent ( 1 1/2 ). U. S. Treasury Notes., Series A-1955,
held under Republic .Jatiol Bank of Dallas, Texas, safekeeping; receipt
Citz.Natt No. 3524lj and in lieu thereof to replace said securities with Th-ee '_'.illion
Bank and I0 00 ( 3,000,000.00) Dollars, U. 3. Treasury Two and One-Half Porcent
(Mr.Munn) (2 1/2;� bonds of 1967-62, and further provided that bonds of similar '.find
4-28-526 shall remain on deposit at all times adequate to see-are the Cityts balance
with said depository.
On motion of Commissioner Davis , seconded by Com-
missioner - enter , e foregoingresolution was unanimously
ppassed by an affa,s lve vote of the City Commission this 24th day of April,
1952-
4'- 4,uZrre- 4� iayorr
ATfLST:
City Secreta yr.{ r. �z�•or
M 04Z4 52 13
watioual wank
OF LUBBOCK
N.HAROLD M€!NN
CASHIER
April 23, 1952
10.
.Mrs. Lavenia Lowe
Secretary' - City of Lubbock
Lubbock, Texas. 4
Dear Mrs. Lowe:
Reference is made to bonds which we have pledged to the City
of Lubbock to secure funds on deposit with us. We wish to
withdraw the $3, 000, 000. 1 1/210 U. S. Treasury Notes Series-
A-1955 held under Republic National Bank of Dallas, Texas,
safekeeping receipt number 35241. To replace these notes
we wish to pledge $3, 000, 000. U. S. Treasury 2 1/2% Bonds
of 1967-62.
If this is acceptable with the City Commission we will appreciate
you forwarding a copy of the portion of the minutes of the next
meeting releasing the notes and accepting the bonds as mentioned
above.
Thanking you, I am
Yours very truly
N. Harold Munn
NHM/mr