HomeMy WebLinkAboutRES 89-034 R E S O L U T I O N
WHEREAS, the City has contracted with First City National
Bank - Beaumont as a depository for investment purposes; and,
WHEREAS, First City National Bank - Beaumont wishes to
pledge the following securities with the Federal Reserve Bank -
Dallas/Houston Branch, effective March 1 , 1989:
RECEIPT NO. DESCRIPTION PAR VALUE
912827UV2 U. S. Treasury Bills, @ 7.875% $3 ,000,000.00
due 5/15/90
and,
WHEREAS, First City National Bank - Beaumont wishes to
release the following securities being held at the Federal Reserve
Bank of Dallas/Houston Branch, effective February 28, 1989:
RECEIPT NO. DESCRIPTION PAR VALUE
00245414 Harris County Flood Control, $ 100 ,000.00
@ 6%; due 3/16/89
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT First City National Bank - Beaumont be permitted to pledge and
release the above-described securities and a certified copy of this
resolution shall constitute the approval of such pledge and release
as evidence of the authority of said bank to make said pledge and
release.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the 28th day of February , 1989.
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Mayor -