HomeMy WebLinkAboutRES 83-052 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 Texas Commerce Bank
N. A. Houston, Texas:
RECEIPT NO. DESCRIPTION PAR VALUE
209101 Jersey Village WW/Impr. GO $ 50 ,000 . 00
Bonds 4 .60% due 3-15-83
180575 Hurst Euless Bedford ISD UT 25 ,000 . 00
Bldg. 7 .00% due 3-15-83
99080 Jefferson Co. Drainage Dist. 50,000 . 00
#6 , 4 .40% due 3-15-83
The total securities being withdrawn from the Texas Commerce Bank
N.A. Houston, Texas are in the amount of $125,000. 00 ; and,
WHEREAS, the Texas Commerce Bank of Beaumont, Texas wishes
to pledge the following securities with Texas Commerce Bank N.A.
Houston, Texas:
DESCRIPTION PAR VALUE
U. S. Treas Notes, 11.875% $3 ,500 ,000 .00
due 10-15-1989
U. S. Treas Notes, 12.750 $ 600 ,000 . 00
due 2-15-1987
Gulf Coast Auth.Poll. , 9 . 90% $ 400 ,000. 00
due 6-1-98
and the total securities being pledged with the Texas Commerce Bank
N.A. Houston, Texas amount to $4 ,500 ,000. 00 ; and,
WHEREAS, after this withdrawal and pledge , the Texas
Commerce Bank of Beaumont, Texas will have $47,535 ,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
�3-sa a?-c'-.?3
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 ' l9x�� ,
- Mayor -
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