HomeMy WebLinkAboutResolution - 091053A - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 09_10_1953 RESOLUTION
WHEREAS, the Citizens National Bank of Lubbock, Texas, Depository for
the City of Lubbock, desires to substitute securities and to3elease certain
United States Treasury Certificates; THEREFORE,
Two copie BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LUBBOCK:
to Citz.
Bank, THAT, the Citizens National Bank of Lubbock Texas BE, and it is
9-1.5-53 hereby auttLorized to replace Two Million and N0/100 (j2,000,000.00) Dollars, Two
(Mr Munn and Five-eighths Percent (2-5/8%) United States Treasury Certificates, Safekeeping
Receipt No. 44200 issued by the Republic National Bank of Dallas and in lieu
thereof to replace said securities with Two Million and ,V0/100 (j2,000,000.00)
Dollars, Two and Seven-eighths Percent (2-7/8%) United States Treasury Notes,
Series A-1957, and further provided that bonds and security of similar, kind shall
remain on deposit at all times adequate to secure the Cityts balance with said
Depository. It is further provided that the City of Lubbock Shall be promptly
advised of the Safekeeping Receipt number under which said United States Treasury
Certificates of Indebtedness are pledged.
On motion of Commissioner Davis , seconded by
Commissioner Carpenter the foregoing Resolution was passed
unanimously by the City Commission this the loth day of Septe=twTr , 1953.
ATTEST: A. PP
0., il2e J J A
La enia Lowe, City Secretary-Treasurer
SG:rr
9-14,53