HomeMy WebLinkAboutRES 98 YYdo J/1
A R E S 0 L U T I 0 N
WHEREAS, The City of Beaumont and the American
National Bank of Beaumont, Texas, entered into
a contract dated July 1, 1969, whereby it was
provided that the said American National Bank
of Beaumont would pledge with the City Council
of The City of Beaumont certain securities in
lieu of giving bond as City Depository; and,
WHEREAS, the American National Bank of Beaumont
wishes to pledge the following additional secu-
rities: $200,000.00 Board of Regents of Lamar
State College of Technology - Student Fee
Capital Improvement Revenue Bond, Series 1969
4.75%, due 10-1-83; and
WHEREAS, after this additional pledge, the
American National Bank of Beaumont will have
sufficient securities pledged to protect the
deposits of the said City of Beaumont, Texas;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF BEAUMONT:
That the American National Bank of Beaumont be permitted to
pledge the additional above described securities with the
Texas National Bank of Commerce, Houston, Texas, and a certi-
fied copy of this resolution shall constitute evidence of the
authority of the American National Bank of Beaumont, Texas,
to make said additional pledge.
1970.
PASSED by the City Council this the 12th day of May,
- Mayor -
APPLICATION TO Texas National,,. 2'.nk of Commerce,Hous ton, Texa; % TIfAT IT ACCEPT CI V,.TAIN
SE,CURITTES 1'OR SAL'1.[:I�El�1NG
Whereas, the Undersigned Depository has been duly and legally designated, and .has
clone al.l things and performed all acts necessary to qualify as the public cicposi.-
tory of the funds of the undersigned depositor; and
Whereas, to secure the funds deposited with it, the Depository has in accordance
with law pledged with the Depositor the following securities:
DESCRIPTION
PAR VALUE
Board of Regents of Lamar State College of 200,000
Technology- Student Fee Capital Improvement
Revenue Bond, Series 1969, 4.75%, due Oct.1, 1983
City of Beaumont, Texas
Depositor
American National Bank*of Beaumont, Texas
Whereas, the securities placed in safekeeping with �tne Texas National. Bank_ of Commerce,
Houston, Texas meet the requirements of law and have been and are he+reby
approved, and.;
This is to certify that the above and foregoing resolution was duly passed by
City of Beaumont, Texas _ _ at a meeting
properly held on the _ J� (,_ day of^ May'51_9 70 the undersigned
members, who constitute a quorum, being present all of which fully appears in the
Minutes of said meeting'.
Clerk
(SEAL)
The members of the Governing Body whose signatures appear. below were present at
the meeting referred to in the above certificate.