HomeMy WebLinkAboutResolution - 011454A - Substitue Securities & Release Of US Treasury Bonds, Citizens National Bank - 01_14_1954011454A
R E S O L U T I O N
WHEREAS, 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 pledged to secure funds on deposit; THEREFORE,
BE IT RESOLVED BY THE CITY COMMIISSION OF THE CITY OF LUBBOCKs
THAT, the Citizens National Bank of Lubbock, Texas, be, and it is hereby
authorized to replace One million and no/100 (61,000,000.00) Dollars of two
and one-fourth percent (2) United States Treasury Bonds,, series of 1959-56,
held under Republic National Bank of Dallas Safekeeping Receipt No. 454191
and in lieu thereof to replace said securities with One million and no/100
($1,000,000.00) Dollars of two and three -eighths (2-3/8%) United States
Treasury Bonds, series of 1958j and further provided that bonds and securities
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 Bonds are pledged.
On motion of Commissioner Carpei,ar , seconded by
Commissioner Davis , this resolution was passed
unanimously this the i,4th_ day of Jant�arq , 1954, by the
City Commission.
M{JRI3E�,
ATTEST,:--.,
Lavebia Lowe,0 C ty Sec tart' -Treasurer