HomeMy WebLinkAboutResolution - 042353C - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 04_23_1953 R E S O L U T I O N
.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
hereinafter described will leave remaining pledged bonds adequate to
secure said deposits in the depository; THEREFORE,
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY.OF LUBBOCK:
T HAT, The Citizens National Bank of Lubbock, Texas BE, and it
is hereby authorized to withdraw United States 2-1/40/o Treasury Bonds of
1956-59, in the amount of One Million and No/100'($1,000,000.00) Dollars,
pledged under Safekeeping Receipt No. 41701 with the Republic National Bank
of Dallas, Texas, and the said bonds are hereby released as security of the
depository, PROVIDED, HOWEVER, that bonds of similar kind shall remain
on deposit at all times adequate to secure the City's balance with said
depository.
On motion of Commissioner Carpenter , seconded
by Commissioner Davis , the foregoing Resolution
was passed unanimously by the City Commission this the 23rd day of
April 1953.
UR�LL TRIP$, Mayor .,Q
ATT Mayor Pro-tem Harry MorrisaQ�l1
La enia Low/,qc ecre,ry-Treasurer
CAM:sv
4-23-53