655 RES LIBERTY NATIONAL BANK IS DEPOSITORY BANK OF AND FOR COP• 0
RESOLIJTION N0. Ct
WHEREAS, The Liberty National Bank in Paris, Paris,
Texas, is DEPOSITORY BANK of and for the Citp of Paris
under existing contract and agreement by and between said
City and said Bank, as required by law; and,
WHEREAS, pursuant to the requirements of law and
the provisions of such contract and agreement, as made,
executed aad agreed upon by and between said City and said
Liberty ATational Bank, said bank has heretofore pledged
and rnanually delivered into the custody of the proper
officials of said City certain approYed bonds as a pledge
to secure funds deposited with said bank; and,
WHEREAS, said Libertp National Bank in Paris has
recently caused to be issued by The First National Bank in
Dallas, Texas, pledge receipt as follows:
(1) No• 653$9, dated Nvvember 1956,
covering U. S. 2j% Treasury Bonds of
1961, Nos. 61415, 61416, C loOM ea.,
or a total of $200,000.00, due
November 15, 1961.
WHEREAS, said Libertq National Bank in Paris, Paris,
Texas, has requested the Governing Body of the City of Paris
to authorize the release and discharge of $100,000.00 U. S.
Treasury Bonds, 24% of 1959-62, Receipt No. 54714, from any
pledge heretofore made by it in connectian with its said
depository contract, and to accept in lieu thereof the above
listed total bonds pledged in the arnount of $200,000.00;
and,
WHEREAS, it appears that said above listed pledge
certificate of The First National Bank in Dallas, Dallas,
Texas, is proper and sufficient evidence and assurance of
the pledge of such bonds and such amount is an adequate and
sufficient amount to cover all funds on deposit with said
Liberty National Bank in Paris under such depository contract:
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COiJNCIL
OF THE CITY OF PARIS, That said above listed secnrities :in
the aggregate amount of $200,000.00, as evidenced by the
pledge certificate of The First National Bank in Dallas,
Dallas, Texas, by its Receipt No. 653$9 be, and the same is
hereby, approved and accepted as pledges and security under
and pursuant to the pledge contract and agreement by and
between The City of Paris and The Libertq National Bank in
Paris, and in lieu of all other securities heretofore
pledged to the City of Paris by said Liberty Flational Bank
in Paris pursuant to such depositorp contract, and all other
such bonds and other securities are herebp released from
such contract, and the City Clerk of the City of Paris is
hereby authorized and directed to manually release and
deliver such vther bonds and securities to such Liberty
National Bank in Paris.
Passed and adopted this 12th dap of Pdovember, A. D.,
1956.
,
Mayor
ATTES'P:
T., J"X
City Clerk.
APPR VED AS TO FORM:
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