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HomeMy WebLinkAboutRES 82-323 �- Z2- 3 -Z 3 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 Texas Commerce Bank, Houston, Texas; Receipt No. Description Par Value 354809 U.S. Treasury Notes, due 2/15/85; 8% $1 ,500,000. 00 355372 U.S. Treasury Notes, due 2/15/85; 87, $ 500,000.00 arid, $2,000,000.00 WHEREAS, after this withdrawal, Texas Commerce Bank of Beaumont, Texas, will have $52,810,000.00 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 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 withdraw said securities. PASSED BY THE CITY COUNCIL of the City of Beaumont this the _Z4/ day of 9 Mayor - 3.2