HomeMy WebLinkAboutRES 86-086 R E S O L U T I O N
WHEREAS, the City has contracted with InterFirst Bank of
Beaumont as a City depository for investment purposes; and,
WHEREAS, InterFirst Bank of Beaumont wishes to pledge
the following security with the Federal Reserve Bank - Houston
Branch:
RECEIPT NO. DESCRIPTION PAR VALUE
U. S . Treasury Notes, 8/875%; $2, 000, 000.00
due 8/31/87
U. S . Treasury Notes, 8.875%; $ 500,000.00
due 7/31/87
and,
WHEREAS, InterFirst Bank of Beaumont wishes to release
the following security being held at InterFirst Bank Dallas, N.A. ;
RECEIPT NO. DESCRIPTION PAR VALUE
U. S . Treasury Notes, 8.875%; $2,000,000.00
due 8/31/87
U.S . Treasury Notes, 8.875%; $ 500,000.00
due 7/31/87
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT InterFirst Bank of Beaumont be permitted to pledge and release
the above-described securities and a certified copy of this
resolution shall constitute the approval of such pledges and
releases and evidence of the authority of said bank to make said
pledges and releases.
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PASSED BY THE CITY COUNCIL of the City of Beaumont this
the / L day of 1986.
Mayor -
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