HomeMy WebLinkAboutRES 93-018 y i
RESOLUTION
WHEREAS, the City has contracted with Texas Commerce Bank, Beaumont as
a depository for investment purposes; and,
WHEREAS, Texas Commerce Bank, Beaumont wishes to pledge the following
securities being held at the Federal Reserve Bank of Dallas-Houston Branch effective February
1, 1993;
RECEIPT NO. DESCRIPTION PAR VALUE
36216MD77 9.00% GNMA,
due 07/15/16 $1,012,024.67
36219RSM4 9.50 GNMA,
due 07/15/18 490,000.00
36216ATR2 9.50 GNMA,
due 12/15/18 90000.00
36216FRJ1 9.50% GNMA,
due 08/15/16 1,000,000.00
36219RA84 9.50% GNMA,
due 08/15/18 606,850.88
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Texas Commerce Bank, Beaumont 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 banks to make said pledge.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the ,,� t day
of , 1993.
- Mayor -