HomeMy WebLinkAboutRES 85-421 R E S O L U T I O N
WHEREAS, the City has contracted with Texas Commerce
Bank-Beaumont, N.A. and First City Bank-Beaumont as depositories for
investment purposes; and,
WHEREAS, Texas Commerce Bank-Beaumont, N.A. wishes to
pledge the following security with Texas Commerce Bank - Houston,
N.A. :
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Notes, 13.75%; $2,500,000.00
due 5/15/86
and,
WHEREAS, First City Bank-Beaumont wishes to pledge the
following security with the Federal Reserve Bank Dallas-Houston
Branch:
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Notes, 9 .75%; $1 ,000,000.00
due 1/31/87
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Texas Commerce Bank-Beaumont, N.A. and First City Bank-Beaumont
be permitted to pledge the above-described securities and a
certified copy of this resolution shall constitute the approval of
such pledges and evidence of the authority of said banks to make
said pledges.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the jQ day ofe1��� 1985.
Mayor -