HomeMy WebLinkAboutRES 93-059 93-sq
RESOLUTION
WHEREAS, the City has contracted with Texas Commerce Bank-Beaumont
(formerly First City Bank, Texas), as a depository for investment purposes; and,
WHEREAS,First City Bank,Texas,wishes to release the following security being
held at the Federal Reserve Bank of Dallas/Houston Branch, effective March 16, 1993:
RECEIPT NO. DESCRIPTION PAR VALUE
912794B52 U.S. Treasury Bill, $1707000.00
Due 3/18/93
WHEREAS, Texas Commerce Bank-Beaumont wishes to replace the above-
described security being held at Federal Reserve Bank of Dallas/Houston Branch effective
March 16, 1993, with the following:
RECEIPT NO. DESCRIPTION PAR VALUE
31289KB92 FMLMC M19064, 6%, Due $215,000.00
12/1/97, Market Value
$216,853.22, Current
$212,211.11
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 Z&
day of �tQ.� , 1993.
- Mayor -