HomeMy WebLinkAboutRES 82-390 �a- 3go
R E S O L U T I O N
WHEREAS, the City of Beaumont and the Texas Commerce
Bank of Beaumont, Texas, entered into a contract October 1, 1981,
whereby it was provided that the 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, the Texas Commerce Bank of Beaumont, Texas,
wishes to withdraw the following securities from the Federal Reserve
Bank of Dallas:
RECEIPT NO. DESCRIPTION PAR VALUE
HO59931 $90M Denton Elect. 6 .50%; $ 90,000. 00
due 11/1/82
HO59933 $100M Houston, 5 .50%; 100,000. 00
due 11/1/82
and,
WHEREAS, the Texas Commerce Bank of Beaumont, Texas
wishes to withdraw the following securities from Texas Commerce
Bank-Houston, N.A. :
RECEIPT NO. DESCRIPTION PAR VALUE
098172 Dallas/Ft. Worth, Arpt. 5 .60%; $ 25,000. 00
due 11/1/82
and,
WHEREAS, the Texas Commerce Bank of Beaumont, Texas
wishes to pledge the following securities with Texas Commerce
Bank-Houston, N.A. :
RECEIPT NO. DESCRIPTION PAR VALUE
E1 Paso Co. IDR Bonds, Ser. 1982 $ 140,000. 00
(Western Tesco, Inc. ) ;
due 8/1/94, 12.00%
E1 Paso Co. IDR Bonds , Ser. 1982 140,000. 00
(Western Tesco, Inc. ) ;
due 8/1/90, 12.00%
E1 Paso Co. IDR Bonds, Ser. 1982 140,000.00
(Western Tesco, Inc. ) ;
due 8/1/85, 12.00%
and,
WHEREAS, after this withdrawal and pledge the Texas
Commerce Bank of Beaumont, Texas, will have $45,700, 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 the 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
the 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 ��f t� e` � 19 .
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