HomeMy WebLinkAboutRES 91-194 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 I1-15-2018
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
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 , 1991.
- Mayor -