HomeMy WebLinkAboutResolution - 081353A - Sub Securities & Release US Treasury Bonds - Citizens National Bank - 08_13_1953 i
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RESOLUTION
WHEAKAS, the Citizens National 'Bank of Lubbock, Texas, depository
for the City of Lubbock, desires to substitute securities and to release certain
United States Treasury Bonds of December, 1954-52; THEFMREp
BE IT RESOLVED BY THE CITY COWISSION OF THE CITY OF LYJBBOCKs
R THAT the Citizens National Bank of Lubbock Texas'lEj, and it is
hereby authorized to replace; Two Million and NOA00 (12,000,000.00) Dollars, Two
Percent (2%) United States Treasury Bonds of Decembers 1954_52, end. in lien thereof
to-replaae' said securities with Two Million and. NOA00 ($2,000,000.00) Dollars,
Tvo and Five-eighths Percent (2-5/8%) United States Treasury Certificates of
Indebtedness dated August 15, 1953 and dua August 15, 1954, and further provided
\ that 'bonds `and security of similar kind shall remain on deposit at all times
adequate' to secure the City's balance i+ith said depository. It is further provided
that the City' of Lubbock shall be promptly advised of the Safe Keeping Raceipt
number under which said United States Treasury Certificates of Indebtedness are
v ,} pledged,
On motion of Commissioner Thamas , seconded I9
Commnissioner Carpenter , the foregoing Resolution vas passed
—animausly by the City Commission this the _ day of August , 1953.
ATTEST: ` i Cp r
Lavenia , City Se retaKamry Treasurer
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