HomeMy WebLinkAboutResolution - 081254B - Release Of U.S. Treasury Bonds - Citizens National Bank (COL Depository) - 08_12_1954 R E S O L U T I O N
WHEREAS, the Citizens National Bank of Lubbock, Texas, deposi-
tory for the City of Lubbock, desires to substitute securities and
Trio ce rt i to release certain United States Treasury Bonds pledged to secure
fied cori funds on deposit; T H E R E F O R E,
es sent
C i t z.Nat ' I BE IT RESOLVED BY THE CITY C0111ISSION OF THE CITY OF LUBBOCK:
Bank
8-13-54 THAT the Citizens National Bank of Lubbock, Texas, BE and it
is hereby authorized to release One Million and Ao/100 ($1,000,000.00)
Dollars two and one-fourth per cent (2-1/4%) U. S. Treasury Bonds of
June 1962/59, Receipt Nos. 48397 and 48363, issued by the Republic
National Bank of Dallas.. Texas, and in lieu thereof to replace said
securities with One Million and No/100 ($1,000,000.00) Dollars two
and one-eighth per cent (2.-1/8%) U. S. Treasury Bonds, of 1967/62,
and further providing that bonds of similar kind shall remain on
deposit at all times adequate to secure the City's balance with
said depository.
On motion of Commissioner Carpenter , seconded by
Com.-issioner -Forrest , this Resolution was passed on
this the 12't hday of August - , 1954, by umnimous Mote of
the City Commission.
4MURUMELLn. RIF
ATTEST:4,,avenie Lcn , City Secretary-Treasurer
RE$:kw
8-10-54