Minutes - 19410505 - Laserfiche WebLink

Browse Search

~:~~3 CCNT iiJUsD of Orange County, svb~e ct to the order of the Board of County Comol sai opera of sai3 County in the event oY any default or lose Buff eyed by said Orange County caused or occ asi.o nsd by any failure or de _fault on the part of th9 Durham Bank & Trust Company. It is further hereby agreed that the party of the se co nd p¢rt shall have I the right Yrom time to time to make such changes and aubsti tutione Sn the col- ~ lateral herein provided for as St may desire, pro v±ding only that said co'_1- ateral at all times amount to not le ae than $30,000.00 par value of 'ponds as above sPe ci Yied and prnvlded for, IN TESTI:dONY OF THIS AGREE~.t^NT, the party oP the Pirst part has caused these presents to bs el goad Sn Sts corporate name by the Chairman of the Board of County Commissioners, duly attested 'oy the 9e cre tary to said Board and the seal of the County to be affixed., all by authority of the re solute on oY the Hoard oY County Commis sippers duly p¢seed and entered in therm notes of said Board. And the party of the se confl pert hss cau eed this agreement to be signed in Its corporate name by a Vice-?resldant, du'_y attested by its 3e cre- ~ tart' and Sts corporate ee ¢1 to to aYflxed, by authority of Sts Hoard of Directors. ORAPI GE COUNTY (SEAL) (SEAL) Hy; J. E Lawe (SEAL) Attest; Chairman of Hoard of County 5. W. Andrews Comml9bioners. Secretary to the Heard DURHAPd HANK & TRUST COL7PA NY (SEALI) Hy; W. W, WoodlY, Jr. (SEALI) Vi ce•-Pre sldent (SEAL) ' Attest; ' R. H, Ae ads Secretary ACCEPTANCE The foregoing Agreement between Orange County, North Carolina, and the Durham Bank k Trust Company, of Durham, North Carolina, having Y1 rst been carefully read, the undersl goad Henk does hereby accent the trust repoe ed in it by said Agreement, end it does further acknowledgethe receipt of bonds to the par value of not le6s than Sj0, 000.00, as are shown Sn detail by the '-~ attached inventory; and it does further hereby covenant and agree to hold Said bonds Sn escrow Sor the benefit of Orange County in accordance with the terms of the foregoing Agreement. ~i IN TE3TI1'ONY OF THE ABOVE ACCEPTANCE, the undersigned Hank hsa caused these presents to be signed by Sts President or Vi ce~-Pre6ident, duly attested III by its Asai sT.ant Cashle r, ¢nd lts corporate 6a el to be affixed, this the 2'0 ~ day of Lfarch, 1941. li THE FIDELITY HANK ((SEAL) Hy; L. J, Kirkland (SEAL) Vice-Pre slde nt (SEAL) Attest: Sohn F. Wiley. Jr. Assistant Ca river T!:e fore go log acceptance of the trust he reSntefore referred to and the foregoing acknowledgment of the re cal pt of the bn nds as shovm in detail by the attached inv ontory Ss 1n lieu of, superseder and cancels all other and i former acceptances, ackno~.ale dgme nts and receipts heretofore executed by The Fidelity Hank in connection with spy bonds or securities heretofore in its po s6ession pursuant to the terms oP any agrseme nt heretofore exists rg between Orange County and Durham Bank & Tru=_t Como¢my. The Fidelity Hank, Durham, N. C, By; L. J, Kirkland Vies-President INVENTORY OF HOD'DS DEFOSITED HY DURHALI HANK & TRUST C01liPANY iN ESCROW "PITH FIDELITY BAP}K OF DUFIiSP.1, NOi~;TH CAROLINA, TRU ST:;c FOR ORANGE CGUNTY, ~. ~ `~,` S>i, 000.00 Orange County 3~,4 School bonds maturi rg 11-1-k2 V`~ Sir 000.00 Orange County ?r}~ 3chool bonds maturing 11-1~-~j i 59,000.00 Orange County 3}N School bonds maturing 11-1-44 $9,000.00 Orange County 3~~ 9chool bonds maturing 11-1.-'+'S ', S6,000.CO orange County 3$° 3chool bonds maturing 11-1-5C/51 (CC1IT INUED )