HomeMy WebLinkAboutRES 86-176 R E S O L U T I O N
WHEREAS, the City has contracted with InterFirst
Bank-Beaumont and Texas Commerce Bank-Beaumont, N.A. as
depositories for investment purposes; and,
WHEREAS, InterFirst Bank-Beaumont wishes to release the
following security being held at the Federal Reserve Bank-
Houston:
RECEIPT NO. DESCRIPTION PAR VALUE
912827SM5 U.S . Treasury Note Ser. X-87, $ 500,000.00
8.875%; due 7/31/87
and,
WHEREAS, Texas Commerce Bank Beaumont, N.A. , wishes to
pledge the following securities with Texas Commerce Bank
Houston, N.A. :
RECEIPT NO. DESCRIPTION PAR VALUE
492480 GNMA' s, 13.00%; due 9/15/2014 $ 933,452.99
492494 GNMA' s , 13.00%; due 6/15/2015 654, 260.59
and,
WHEREAS, Texas Commerce Bank Beaumont, N.A. , wishes to
release the following securities being held at Texas Commerce Bank
Houston, N.A. :
RECEIPT NO. DESCRIPTION PAR VALUE
492480 GNMA' s , 13.00%; due 9/15/2014 $ 933,452.99
492494 GNMA' s , 13.00%; due 6/15/2015 654. 260. 59
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT InterFirst Bank-Beaumont and Texas Commerce Bank Beaumont,
N. A. , 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 banks to make said pledges and releases.
PASSED BY JE CITY COUNCIL of the City of Beaumont this
the day of - 1986.
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Mayor -
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