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<br />RESOLIJTION N0. Ct
<br />WHEREAS, The Liberty National Bank in Paris, Paris,
<br />Texas, is DEPOSITORY BANK of and for the Citp of Paris
<br />under existing contract and agreement by and between said
<br />City and said Bank, as required by law; and,
<br />WHEREAS, pursuant to the requirements of law and
<br />the provisions of such contract and agreement, as made,
<br />executed aad agreed upon by and between said City and said
<br />Liberty ATational Bank, said bank has heretofore pledged
<br />and rnanually delivered into the custody of the proper
<br />officials of said City certain approYed bonds as a pledge
<br />to secure funds deposited with said bank; and,
<br />WHEREAS, said Libertp National Bank in Paris has
<br />recently caused to be issued by The First National Bank in
<br />Dallas, Texas, pledge receipt as follows:
<br />(1) No• 653$9, dated Nvvember 1956,
<br />covering U. S. 2j% Treasury Bonds of
<br />1961, Nos. 61415, 61416, C loOM ea.,
<br />or a total of $200,000.00, due
<br />November 15, 1961.
<br />WHEREAS, said Libertq National Bank in Paris, Paris,
<br />Texas, has requested the Governing Body of the City of Paris
<br />to authorize the release and discharge of $100,000.00 U. S.
<br />Treasury Bonds, 24% of 1959-62, Receipt No. 54714, from any
<br />pledge heretofore made by it in connectian with its said
<br />depository contract, and to accept in lieu thereof the above
<br />listed total bonds pledged in the arnount of $200,000.00;
<br />and,
<br />WHEREAS, it appears that said above listed pledge
<br />certificate of The First National Bank in Dallas, Dallas,
<br />Texas, is proper and sufficient evidence and assurance of
<br />the pledge of such bonds and such amount is an adequate and
<br />sufficient amount to cover all funds on deposit with said
<br />Liberty National Bank in Paris under such depository contract:
<br />NOW, THEREFORE, BE IT RESOLVED BY THE CITY COiJNCIL
<br />OF THE CITY OF PARIS, That said above listed secnrities :in
<br />the aggregate amount of $200,000.00, as evidenced by the
<br />pledge certificate of The First National Bank in Dallas,
<br />Dallas, Texas, by its Receipt No. 653$9 be, and the same is
<br />hereby, approved and accepted as pledges and security under
<br />and pursuant to the pledge contract and agreement by and
<br />between The City of Paris and The Libertq National Bank in
<br />Paris, and in lieu of all other securities heretofore
<br />pledged to the City of Paris by said Liberty Flational Bank
<br />in Paris pursuant to such depositorp contract, and all other
<br />such bonds and other securities are herebp released from
<br />such contract, and the City Clerk of the City of Paris is
<br />hereby authorized and directed to manually release and
<br />deliver such vther bonds and securities to such Liberty
<br />National Bank in Paris.
<br />Passed and adopted this 12th dap of Pdovember, A. D.,
<br />1956.
<br />,
<br />Mayor
<br />ATTES'P:
<br />T., J"X
<br />City Clerk.
<br />APPR VED AS TO FORM:
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