HomeMy WebLinkAboutRES 86-076 R E S O L U T I O N
WHEREAS, the City has contracted with First City Bank of
Beaumont, N.A. , Allied Bank - Beaumont, Fidelity Savings, and
Jefferson Savings and Loan Association as City depositories for
investment purposes; and,
WHEREAS, First City Bank of Beaumont wishes to release
the following security being held at the Federal Reserve - Dallas,
Houston Branch:
RECEIPT NO. DESCRIPTION PAR VALUE
U.S . Treasury Note, 8.50%; $2,000,000.00
due 6/30/87
U.S . Treasury Note, 9. 125%; $1 ,000, 000.00
due 5/31/87
U. S . Treasury Note, 9. 75%; $1 ,000, 000.00
due 1/31/87
and,
WHEREAS, Allied Bank - Beaumont wishes to release
the following security being held at Allied Bank - Houston:
RECEIPT NO. DESCRIPTION PAR VALUE
U.S. Treasury Note, 9.875%; $1 , 000, 000.00
due 5/15/88
and,
WHEREAS, Fidelity Savings wishes to release the following
security being held at Texas Commerce Bank - Beaumont effective
March 12, 1986:
RECEIPT NO. DESCRIPTION PAR VALUE
GNMA #35972, 9. 5%; due 10/15/2009 $1,017,465.00
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and,
WHEREAS, Fidelity Savings wishes to release the following
security being held at Texas Commerce Bank - Beaumont effective
March 4, 1986:
RECEIPT NO. DESCRIPTION PAR VALUE
GNMA #34104, 9.375%; $1, 022,692.00
due 10/15/2009
and,
WHEREAS, Jefferson Savings and Loan Association wishes to
pledge the following security being held at the Federal Home Loan
Bank - Dallas:
RECEIPT NO. DESCRIPTION PAR VALUE
Federal Home Loan Bank Bond, $ 500,000.00
9. 75%; due 7/25/90
and,
WHEREAS, Jefferson Savings and Loan Association wishes to
release the following security being held at First City Bank -
Beaumont:
RECEIPT NO. DESCRIPTION PAR VALUE
Farmers Home Administration $ 500, 000. 00
Certificates of Beneficial
Ownership, 9 .00%; due 4/23/89
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT First City Bank of Beaumont, Allied Bank -Beaumont, Fidelity
Savings, and Jefferson Savings and Loan Association be permitted to
pledge and release the above-described securities and a certified
copy of this resolution shall constitute the approval of such
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pledges and releases and evidence of the authority of said banks to
make said pledges and releases.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the day of a e� 1986.
P
Mayor -
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