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HomeMy WebLinkAboutRES 91-190 I RI RESOLUTION 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 August 13, 1991: RECEIPT NO. DESCRIPTION PAR VALUE GNMA, 9.50% $490,000.00 due 2-15-2018 GNMA, 9.50% $355,000.00 due 10-15-2017 GNMA, 9.00% $130,000.00 due 5-15-2017 GNMA, 9.50% $496,990.00 due 11-15-2018 GNMA, 9.50% $500,000.00 due 12-15-2018 GNMA, 9.50% $274,279.00 due 1-15-2019 GNMA, 9.50% $148,853.50 due 10-15-2017 GNMA, 9.00% $410,000.00 due 6-15-2017 GNMA, 9.00% $750,000.00 due 6-15-2017 GNMA, 9.50% $155,000.00 due 7-15-2018 9/—i go F-13-- 9,/ NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BEAUMONT: THAT Texas Commerce Bank be permitted to pledge the above-described securities and a certified copy of this resolution shall constitute the approval of such pledge as evidence of the authority of said bank to make said pledge. PASSED BY THE CITY COUNCIL of the City of Beaumont this the day of Lint , 1991. - Mayor -