Res Transfer funds 7/3/1944RES0LUTI0N
It was moved by Alderman Spragins and seconded by Alde .mats Dyer
that the City National Hank in Wichita Falls., Wichita Falls,, Texas, be and
is hereby direeted to transfer One kU.11ion Two Hundred Thousand Dollars
($10200,000.00) from our checking account with them to the IfCity of Wichita Falls
First Mortgage Waterworks System Revenue Fund ('Katex Improvement No. 5)'�
to an interest beaming account., to b e known as "Time Deposit open Account.,
City of V.chi.ta Falls., First Mortgage Waterworks System Revenue
Bond Fund (Water improvement No. 5)" — as permitted by Regulation 'D -- Section
1 -- A. 3405.1 (d) -- interes b to be at the rate of one percent (1 %) per am ma
payable at the end of each quarter, The interest to start can the deposit when
the same is accepted by said bank.
All amounts left on deposit wi,t:h the City National. Bank in Wi"t a
Falls, Wichita Falls., Tema., is W b a secured by United States Government Bonds
for equal the amount of the deposit., the bonds to be withdrawn si=ltaneously
in proportion to the amounts of withdrawals from the Tine Deposit Account,, the
amounts of the withdrawals to be agreed upon latex. However., a Thirty (30)
days written notice (being a legal requirement) is agreed upon, between the
City National Bank in Wichita `Falls., Washita Falls., T s., and the City of
Wichita Falls.
T., Gera. T. gnderson, City Clerk of Wichita Falls., Texas,, herby
certify-that the ,above is a cor=rect copy of Resolution duly passed by the
City Council of Washita Falls., Texas? at a regular meet? ng held can 3rd
day of July, A. D., 1944, and record -ad in thte Minutes of the Council Meet-
ing showing passage of this Resolution.
600". T. -e ersons, City erk
ACCEPTED July- 6, 191.{.lr
CITY NATIONAL BANK IN �j. ICHT` A FALLS
By /a/ W. L. Robertson
PRESIDENT
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