Res 29 1/10/1949r
RESOLUTION NO.
WHEHIEAS, the City National Bank in Ifici -dta Ralls, Texts, has
deposited in trust with the First National Bank in Dallas the sum of
$1,000,000.00 in Ue S. bonds as security for account of the City of
Wichita Falls, Texas, as evidenced by the First National Bank in Dallas
Certificate No. 36995, as hereinafter set forth:
Certificate No. 36995, dated April 24, 1948, U.S. 1 1 /8°%
C. of I's., Series B- 1919, due 2 -1 -49,
Nos. 1- 846/1855, @ 100M ea, 1,000,00000
AND, MiEHEAS, the City National Bank in Wichita Falls, Texas,
has requested release of the above described bonds, and
JHLfsL. AS, the City National. Bank in Wichita Falls, Texas, desires
to reduce the securities held in trust by the First National hank in
Dallas for the City of Wichita Falls in the amount of $400.,000.00, and
Whhh.EAS, the City National Bank in Wichita Falls, Texas, agrees
to substitute the remaining $600,000.00 of the above securities held in
trust by the First National. Bank in Dallas for security of the deposits
of the City of Wichita Falls, Texas, as described in Paragraph 1 of this
Resolution, and
{ -h'AS, it appears that sufficient securities have been pledged
by the City National. Bank in Wichita Falls, Texas, with the First National
Bank in Dallas to secure the deposits of the City of Wichita Falls, Texas;
NOW, THERSEORE, BE IT RESOLVED BY THE BOARD OF ALD ",ILN OF THE
CI'T'Y OF tidICHITA FALLS, TEXAS:
THAT the City Clerk be and he is hereby authorized to permit the
City National Bank in Wichita Falls, Texas, to reduce the securities pledged
with the First National Banh in Dallas, Texas, in the amount of $400,000-00
and accept as security for the City of Wichita Fails, Texas, similar
U. S. of America bonds aggregating the sum of 0600,000.00 and surrender
the above described U. S. 1 1 /$% C. of I's, aggregating the sum of
61,000,000.00.
PASSED iVID APPHOV-ED this the 10th day of January, 1949A
_. Mayor
ATTEST:
V
City Clerk