HomeMy WebLinkAboutRES 93-126 RESOLUTION
WHEREAS, the City of Beaumont has received certain shares of preferred stock of
"SIG Holdings, Inc." as compensation for amounts due the City by the company in
bankruptcy; and,
WHEREAS, the City desires to make an offer to sell such stock for $35 in
accordance with the offer to purchase provided the City in this bankruptcy proceeding;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the appropriate City official be and he is hereby authorized to execute all instruments
necessary to offer for sale all shares of SIG Holdings, Inc. held by the City of Beaumont for
the amount of$35 per share in accordance with the 'offer" of the purchase of such shares
provided to the City in the above referenced bankruptcy.
PASSED BY THE CITY COUNCIL of the City of Beaumont this day of
1993.
- MAYOR -