HomeMy WebLinkAboutRES 81-27 'Pv- -�
R E S O L U T I O N
WHEREAS, the City of Beaumont and the American National
Bank of Beaumont, Texas, entered into a contract September 25, 1979
whereby it was provided that the American National Bank of Beaumont,
Texas, would pledge with the City Council of the City of Beaumont
certain securities in lieu of giving bond as City Depository; and,
WHEREAS, the American National Bank of Beaumont, Texas,
wishes to withdraw the following securities from the Federal Reserve
Bank of Dallas and Texas Commerce Bank of Houston, Texas:
RECEIPT NO. DESCRIPTION PAR VALUE
HO62585 Cypress-Fairbanks ISD Schhse $ 25,000.00
Bonds 4 .50% due 2-1-81
178275 Terrell Texas GO Bonds 6 .150%
due 2-1-1981 $ 15,000.00
185017 City of Baytown, GO Bonds 5 .75%
due 2-1-1981 $ 50,000.00
The total securities being withdrawn from the Federal Reserve Bank of
Dallas and Texas Commerce Bank of Houston are in the amount of
$90,000.00; and,
WHEREAS, the American National Bank of Beaumont, Texas
wishes to pledge the following securities with the Texas Commerce
Bank of Houston, Texas:
RECEIPT NO . DESCRIPTION PAR VALUE
15966 U.S. Treas Notes, 7 .375%
due 2-15-1981 $1,000,000.00
WHEREAS, after these withdrawals and pledge, the
American National Bank of Beaumont, Texas, will have $35,070,000.00
pledged to protect the deposits of the said City of Beaumont, Texas.
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
�!:Z 7 27-x/ �Q►
THAT the American National Bank of Beaumont, Texas, be permitted to
withdraw and pledge the above-described securities, and a certified
copy of this resolution shall constitute evidence of the authority of
the American National Bank of Beaumont, Texas, to make said
withdrawal and pledge.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the a7.r!r, day of , 19
Mayor -
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