HomeMy WebLinkAboutRES 82-75 z?- 7,s-
R E S 0 L U T 1 0 N
WHEREAS, the City of Beaumont and Texas Commerce Bank of
Beaumont, Texas entered into a contract dated October 1 1981,
whereby it was provided that Texas Commerce 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, Texas Commerce Bank of Beaumont, Texas, wishes
to withdraw the following securities from the Texas Commerce Bank ,
N. A. Houston, Texas;
Receipt No. Description Par Value
Jersey Village, 6. 50%; $ 50,000. 00
Due 3/15/82
WHEREAS, Texas Commerce Bank of Beaumont, Texas wishes to
pledge the following securities with Texas Commerce Bank of
Houston, Texas :
Receipt No. Description Par Value
U. S. Texas. Notes, $1,000,000. 00
13. 875%; Due 11/15/86
WHEREAS, after this withdrawal and pledge, Texas Commerce
Bank of Beaumont, Texas, will have $47,635,000. 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:
THAT Texas Commerce 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 Texas Commerce Bank of Beaumont, Texas, to make said withdrawal
and pledge.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the day of
Mayor -
An