1935-03-12 Releaseing Securities to Citizens Bank of Stuartlga=T e Following Resolution was presented by Councilman
who moved its adoption, and upon being
seconded by Councilman and put to a vote
was unanimously adpoted in open session f e City Council:
R E S 0 L U T 1 0 N &
WHEREAS, The City Council of the City of Okeechobee, Florida
entered in to an agreement with Citizens Bank of Stuart at Stuart
Florida, whereby said Bank was duly designated the official De-
pository for the said City of Okeechobee, and,
WHEREAS, pursuant to said agreement the said Citizens Bank of
Stuart delivered to the City of Okeechobee, Florida, the following
described securities.,
l_$ 00.00 U. S. Treasury Bond dated
October 25th., 1933, Due October l5th-,
1945., No . 31465E. bearing interest 3K
with interest coupon maturing April 15th.
1934 and subsequent attached.
1_$ljOOO.O0 U. so 4th. 4j%, Liberty
Loan Bond of 1933 38, maturity, Number
Eo2687635, with April lf;th . and
I P 1934P
subsequent interest coupons attached.
WHEREAS, the deposits of the said City of Okeechobee is less
than five thousand dollars and it is unlikely that said deposits
will exceed that am in the near future and all deposits of said
Bank are insured up to Five Thousand Dollars, and
WHEREAS, the said Citizens Bank of Stuart has requested this
Council to release the securities above mentioned and describedo
NOW, THEREFORE., BE IT RESOLVED, that said securities be, and
they axe hereby released unto the said Citizens Bank of Stuart,
with the understanding that if the deposits of said City of Okee-
chobee exceed the amount of five thousand dollarsp that said Bank
will immediately deposith satisfactory security upon demand of the
City Council; Be it further resolved that the City Clerk be, and he
is, hereby authorized and instructed to deliver the above described
securities to the said Citizens Bank of Stuart and obtain receipt
therefor.
1i '�' 4
PASSED AND ADOPTED in apen session of the City Council this
12th. � A. D. 1935.
CITY OF OKEECHOBEE0 FLORIDA,
By President City Council
Chtairman, Finance CormIttee.
ATTEST:— Z�"�
Clerk.
The above and foregoing resolution is hereby kpproved
by me this day of March, A. D. 1935-
I
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