HomeMy WebLinkAboutRES 90-083 9, - 83
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 being held at the Federal
Reserve Bank of Dallas/Houston Branch, effective May 8, 1990:
RECEIPT NO. DESCRIPTION PAR VALUE
912827UV2 U.S. Treasury Notes, Series $3,000, 000. 00
AB-1989 @ 7.875%; due 5/15/90
and,
WHEREAS, Texas Commerce Bank, Beaumont wishes to
replace the above-described securities being held at Federal
Reserve Bank of Dallas/Houston Branch effective May 8, 1990 with
the following:
RECEIPT NO. DESCRIPTION PAR VALUE
912827WVO U.S. Treasury Notes @ 8.5%; $3 ,000, 000. 00
due 11/15/91
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Texas Commerce Bank, Beaumont be permitted to release and
pledge the above-described securities and a certified copy of
this resolution shall constitute the approval of such release and
pledge as evidence of the authority of said bank to make said
release and pledge.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the �, i day of 1990.
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