HomeMy WebLinkAboutResolution - 072254E - Substitue Securities & Release Of US Treasury Bonds, Citizens National Bank - 07_22_1954 0722,c;4
R E S O L U T I O N
W HER'EAS, the Citizens National Bank of Lubbock, Texas, deposit-
ory for the City of Lubbock, desires to substitute securities and to release
certain United States Treasury Bonds pledged to secure funds on deposit;
NOW, 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 One Million and No/100 ($1, 000, 00. 00) Dollars
of two and one-half per cent (Z-1/2%) interest, United States Treasury Bonds
of 1962/67 held by Republic National Bank of Dallas under Safekeeping Receipt
No. 48187;_a:nd, in lieu thereof, to replace said securities with.One Million
and No/100, ($1, 000, 000.00) Dollars of two and one-fourth per cent.(2-1/4%)
interest United States Treasury';Bonds of 1962/59; provided that bonds and
securities of similar kind shall remain on deposit at all times adequate to
secure the Cityls ba.lanoe with said depository; land provided further that the
City of Lubbock shall be with
furnished Safekeeping Receipt to cover
these securities.
i
�^ On motion of Cora-missioner Thomas
, seconded by Gore
missioner Carpenter y this Resolution was passed unanimously on
this the Z2d day of July, 1954, by the City Commission.
ATTESwow yor
Lav Lowe, y Sec etar 'f easurer
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