HomeMy WebLinkAboutRES 89-118 R E S O L U T I O N
WHEREAS, the City has contracted with Texas Commerce
Bank - Beaumont as a depository for investment purposes; and,
WHEREAS, Texas Commerce Bank - Beaumont wishes to
release the following securities which are being held at the
Federal Reserve Bank of Dallas/Houston Branch, effective June 13 ,
1989 :
RECEIPT NO. DESCRIPTION PAR VALUE
Sk; 245392 Galveston Co. Wtr, 5.20%; $155, 000. 00
due 7/10/89
and,
WHEREAS, First City National Bank - Beaumont wishes to
release the following securities being held at Federal Reserve
Bank of Dallas/Houston Branch effective June 13, 1989 :
RECEIPT NO. DESCRIPTION PAR VALUE
912827VC3 U. S. Treasury Note @ 7. 625%; $ 300, 000 . 00
due 7/31 /89
and,
WHEREAS , First City National Bank - Beaumont wishes to
pledge the following securities with the Federal Reserve Bank of
Dallas/Houston Branch:
RECEIPT NO. DESCRIPTION PAR VALUE
912827XD9 U. S. Treasury Note @ 9.1250; $ 300, 000. 00
due 2/15/92
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Texas Commerce Bank - Beaumont and First City National Bank
- Beaumont be permitted to releases and pledge the above-
described securities and a certified copy of this resolution
shall constitute the approval of such releases and pledge as
evidence of the authority of said bank to make said releases and
pledges.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the 13th day of June 1989.
Mayor -