HomeMy WebLinkAboutRES 90-266 I
R E S O L U T I O N
WHEREAS, the City has contracted with Texas Commerce
Bank as a depository for investment purposes; and,
WHEREAS, Texas Commerce Bank wishes to pledge the
following securities being held at the Federal Reserve Bank -
Dallas/Houston Branch effective December 11, 1990:
RECEIPT NO. DESCRIPTION PAR VALUE
GNMA, 9.50%; $1, 060, 000. 00
due 09/15/2016
GNMA, 9.50% $ 993,763 .85
due 06/15/2017
GNMA, 9.50% $ 955, 000. 00
due 08/15/2018
GNMA, 9.50% $1, 000, 000. 00
due 11/15/2018
GMNA, 9.50% $1, 001,749. 00
due 01/15/2019
WHEREAS, Texas Commerce Bank wishes to release the
following securities being held at the Federal Reserve Bank -
Dallas/Houston Branch:
RECEIPT NO. DESCRIPTION PAR VALUE
CUSIP 912827SZ6 U. S. Treasury Note $4, 200, 000. 00
9. 125% due 02/15/91
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NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Texas Commerce Bank be permitted to release the
above-described securities and a certified copy of this
resolution shall constitute the approval of such release as
evidence of the authority of said bank to make said release.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the
l , .61 day of , 1990.
- Mayor -