Bruce v. Republic Nat. Bank & Trust Co.

PELPHREY, Chief Justice.

On July 29, 1927, a trust agreement was entered into by and between the North Tex as Trust Company and the North Texas National Bank in Dallas, Tex., the general purport of which was that the North Texas Trust Company was to deposit with the North Texas National Bank, as trustee, certain special assessment certificates issued by cities and towns in the state of Texas, and secured by liens upon real property located in said cities and towns and/or bonds of cities, towns, or counties and/or other direct obligations issued by municipalities and counties and/or other…