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HomeMy WebLinkAboutResolution - 062454M - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 06_24_1954 2 RESOLUTION Safekeep ing Rece pt W H E R E A S, the Citizens National Bank of Lubbock, Texas, deposit r, t 45599 for the City of Lubbock desires to release certain United States Treasury_•Bond returned' pledged to secure funds on deposit and It appears that after the release of to ulr. such bonds sufficient ,security will remain in the fund to cover the City's Munn at deposits; T HE R E F O R E, Citz. Nat'1. BE IT RESOLVED BY THE CITY C014USSION OF THE CITY OF LUBBOCK: Bank 6-25-54. ,THAT the Citizens National. Bank of Lubbock, Texas, be and it is herebyi authorized to -release 00,QO0.00 (Six Hundred Thousand and N0/100) Dollars, two and one-half per cent (2-1/2%) U. S. Treasury Bonds of September 1972/67, Receipt No. 45599 issued by the Republic National Bank of Dallas, Texas, provided that sufficient bonds of similar kind remain on de- posit at all times adequate to secure theCityts balance with said depository. On motion of Conx1ssioner Carpenter , seconded by Commissioner Forrest , this Resolution wa.s passed this the _2 .L day of June 1954, by the City Commission by unanimous vote. tORREU c;m R. TRIPP, Mayor ATTEST: /I Lavefdia Lowe, di-ty Secretary-Treasurer B:gf 6-21-54 r O(PZ45LV I�A ,.... 4t �ifilzruoWatimal W unit OF L-UBBOCK N-HAR©LD MUNN 'fubrb'.ark j P x0 CASHIER Sune 19, 1954 Hon. City Commission City of Lubbock Lubbock, Texas Gentlemen: At the present time, we have $6,550,000.00 U. S. Treasury Bonds pledged to the City of Lubbock to secure funds on deposit with us. At this time, we would like to withdraw $600,000.00 2 1/Z% U. S. Treasury Bonds of September 1972/67. These are held under Safekeeping Receipt #45599 issued by the Republic National Bank of Dallas. This will -' leave $5,950,000.00 U. S. Treasury Bonds pledged, and the funds on deposit with us is less than that figure. If agreeable, we will appreciate receiving copy of the por- tion of the minutes authorizing this release. r Thanking you, I am, Sincerely yours, Cashier .NHM:j b