HomeMy WebLinkAboutRES 83-171 7/
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, Texas:
RECEIPT NO. DESCRIPTION PAR VALUE
HO 63036 Victoria Co. Jr. College, 4 .50% ; $ 25,000 .00
due 7/01/83
HO 59856 Lamar ST College, 4 .75% ; 65,000 .00
due 10/01/83
HO 59967 Lufkin ISD, 6% ; due 6/15/83 50,000 .00
HO 59846 Sherman Tx. WW/, 4 .40% ; 55,000 .00
due 10/01/83
HO 59952 Dallas Ft. Worth Arpt. , 6% ; 100,000.00
due 11/01/83
HO 59944 Dallas Ft. Worth Arpt. , 5 .40% ; 300,000 .00
due 11/01/83
The total securities being withdrawn from the Federal Reserve Bank of
Dallas, Texas are in the amount of $595,000 .00 ; and,
WHEREAS, the Texas Commerce Bank of Beaumont, Texas wishes
to withdraw the following securities from Texas Commerce Bank N.A.
Houston, Texas:
RECEIPT NO. DESCRIPTION PAR VALUE
207535 Brookfield MUD, 6%; due 9/01/83 $ 25,000 .00
214161 Bmt. , Tex WW Sys. , 4 .75% ; 70 ,000 .00
due 9/01/83
207788 Glenshire MUD WW/SS, 6%; 35,000 .00
due 8/01/83
205409 Galveston Cnty Wtr. , 4 .45% 185,000.00
due 7/10/83
188705 Irving ISD, 7%; due 6/01/83 50,000 .00
176126 Livingston ISD, 5 .50% 25,000 .00
due 12/15/83
296689 U.S . Treas Notes, 7 .625% ; 1 ,000,000.00
due 11/15/87
296690 U.S . Treas Notes, 7 .625% ; 1 ,000,000 .00
due 11/15/87
The total securities being withdrawn from the Texas Commerce Bank
N.A. Houston, Texas are in the amount of $2 ,390,000 .00 ; and,
WHEREAS, after this withdrawal, the Texas Commerce Bank of
Beaumont, Texas will have $40,060,000 .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 make said withdrawal.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the
/D day of _ , 19 ?.3 .
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