HomeMy WebLinkAboutRES 83-323 X°- 83- 3.23
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
Houston, N.A. :
RECEIPT NO. DESCRIPTION PAR VALUE
361581 Tarrant Cnty Wt r Cntrol & Imp $100,000 .00
Dist #1 ; Series 1971 ; due
3/01/85
389809 Tarrant Cnty Wtr Cntrol & Imp 100,000 .00
Dist #1 ; due 3/01/86
The securities being withdrawn from the Texas Commerce Bank Houston,
N.A. are in the total amount of $200,000.00 ; and,
WHEREAS, the Texas Commerce Bank of Beaumont, Texas, wishes
to pledge the following securities with the Texas Commerce Bank
Houston, N.A.:
RECEIPT NO. DESCRIPTION PAR VALUE
364665 U.S . Treas Notes 11.8750; $200,000.00
due 10/15/89
The securities being pledged with the Texas Commerce Bank Houston,
N.A. are in the total amount of $200,000.00; and,
WHEREAS, after this withdrawal and pledge, the Texas
Commerce Bank of Beaumont, Texas will have $24,875,000 .00 pledged to
protect the deposits of the said City of Beaumont, Texas, and this
amount is adequate.
�'3- 3. 3 9- Z'q -''3
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
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 �m C�.tJ� , 1913--
wae' S!
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Mayor
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