HomeMy WebLinkAboutRES 82-101 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 Federal Reserve Bank,
Dallas., Texas;
Receipt No. Description Par Value
H063050 City of Lubbock Electric; $ 25,000- 00
4. 60% , due 4/15/82
H059842 Irving ISD; 6. 50%, due 50,000- 00
due 4/01/82
and,
WHEREAS., Texas Commerce Bank of Beaumont, Texas, wishes
to withdraw the following securities from the Texas Commerce Bank
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N. A. , Houston, Texas;
Receipt No. Description Par Value
182534 Lubbock , GO Bonds ; 4. 20% , $ 80,000. 00
due 4/15/82
214179 Webster Tx Pub Imp. ; 5. 40%, 50,000- 00
due 5/01/82
177758 Westheimer Rd. ; 6%, 30,000- 00
due 4/01/82
and,
WHEREAS, after this withdrawal Texas Commerce Bank of
Beaumont, Texas, will have $47,400,000. 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
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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 -P � day of �1 19 0PA
Mayor
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