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Facilities Authority approves release and replacement of two collateral security pledges
Summary
The Comanche County Facilities Authority voted unanimously to release two bank collateral pledges approaching maturity with Liberty National Bank and replace them with two new securities; the motion named CUSIP numbers and dollar amounts.
The Comanche County Facilities Authority voted March 2 to release two collateral security pledges held at Liberty National Bank and replace them with two alternative securities.
Josh Powers moved to approve the release and replacement, saying the action was needed because the existing pledges were approaching maturity. The motion specified CUSIP 91282CB17 pledged in the amount of $959,380.00 (maturity date March 31, 2026) and CUSIP 91282CBW0 pledged in the amount of $1,000,000.00 (maturity date April 30, 2026), and to replace them with CUSIP 3133EMD82 ($948,550.00) and CUSIP 3130AM4Y5 ($961,810.00). Ryan John seconded the motion; Powers, John and Chair Johnny Owens voted aye.
The motion was recorded as a formal action of the authority; no abstentions or nay votes were recorded. The meeting minutes do not note additional conditions or follow-up reporting requirements tied to the replacement securities.
