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HomeMy WebLinkAboutResolution - 061460J - Act As Permanent Trustee For The City Of Lubbock Cemetery - 06_14_1960 > _ RESOLUTION 1, !. WHEREAS,, the Memorial Park of Lubbock, Inc. , was originally organized as a cemetery association under the authority of and in compliance with Art. 912a-1 et seq. , Revised,Civil Statutes.of Texas; and, WHEREAS,, said Memorial Park of Lubbock, Inc. , in compliance with said Art 12a-1 et seq. , in order to, create a perpetual care fund established a trust fund in he Lubbock National Bank of Lubbock, Texas, by virtue of an agreement between said Lubbock National Bank and said Memorial Park of Lubbock, Inc. , dated the 3rd day of February* 1947; and, -� WHEREAS, subsequent thereto the City of Lubbock by purchase and assignmen tobtained complete ownership and possession of said cemetery now known as CityL6f Lubbock Cemetery and said trust fund, and, t: J, "i ' WHEREAS,,; municipalities are expressly excepted from requirements of said Art. 912a-1 et seq., and are instead subject to requirements, duties and rights contained in Art. 969c, Revised Civil Statutes of Texas; and, WHEREAS,, said Art. 969c, grants any incorporated or chartered city or town within the State of Texas the power and authority to act as a permanent trustee for he perpetual care and upkeep of the lots and graves in any cemetery owned, oper- ted or controlled by it: NOW THEREFORE, :..� E IVRESOLVED BY THE;C,ITY' COMMISSION OF THE CITY OF LUBBOCK: SECTION 1. THAT the City of Lubbock hereby signifie6 its willingness and ntention to act as a permanent trustee for the perpetual care and upkeep of those ots and graves in City of Lubbock Cemetery which were sold prior to the date said cemetery was acquired by the City of Lubbock.. SECTION 2. THAT the City of Lubbock as assignee and successor to all right f that cemetery association known as MEMORIAL PARK OF LUBBOCK; INC., does hereby revoke that trust agreement entered between the Lubbock Nation Bank f Lubbock, Texas, and said MEMORIAL PARK OF LUBBOCK INC., dated the 3rd ay of February, 1947, which created an account styled "Memorial Park Perpetual are Fund. " SECTION 3. THAT the Lubbock National Bank of Lubbock, Texas, is hereby authorized and requested to deliver unto the City of Lubbock, Texas, all funds and ccrued interest thereon held by it by virtue of that trust agreement identified in Section $ hereof; provided however, that said Lubbock National Bank of Lubbock, exas, shall not be liable in executing this transfer of funds except for any losses rising in violation of law or from bad faith prior thereto, nor shall said Lubbock National Bank ever become liable for any default on the part of the City of Lubbock subsequent to said transfer of funds, nor shall said Lubbock National Bank of Lubb I e bound to determine that such funds as transferred to the City of Lubbock are mployed as directed by this Resolution and Art. 969c, Revised Civil Statutes of exas. SECTION 4. THAT there is hereby created and established a special account entitled the "Memorial Park Perpetual Care Fund of the City of Lubbock Cemetery and upon receipt by the City of Lubbock of the Funds held by virtue of that trust greement identified in Section 2 hereof, same shall be deposited in said special account separate from all'other funds of the City and shall be maintained separate and distinct from all other 'funds of the City of Lubbock and no drafts or checks sha ] e honored upon said fund except upon authorization of the City Commission for he purposes and to the extent authorized by Art. 969c, Revised Civil Statutes of Texas; PROVIDED HOWEVER, that the City Auditor is hereby authorized and directed to invest said fund without further order of the City Commission to the xtent and in the manner provided by said Art. 969c, Revised Civil Statutes of exa.s. SECTION 5. THAT the Mayor of the City of Lubbock BE and he is hereby uthorized and directed to execute on behalf of the City of Lubbock any such releas d/or receipt as may be reasonably�r�e quire d by the Lubbock National Bank of ubbock as a condition to the transfer of said funds. The City Secretary-Treasure hall attest such release and/or receipt affixing the seal of the City of Lubbock hereto. SECTION b. THAT nothing hereinabove provided shall in any way whatsoever lter or deminish the rights and privileges of those who purchased lots or graves n compliance with and in reliance on the provisions of Art. 912a-1 et seq., Revise ivil Statutes of Texas, prior to the date said cemetery came under the ownership nd control of the City of Lubbock. .� 6e Passed by the Commission this 14th day of June 21919 7 7- YID V _ T�2,. Mayor TTEST: Qavenfg'Lowe., City Secretary-Treasurer i