HomeMy WebLinkAboutRES 58 ZZ151'-z Z
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 wishes to
withdraw $25,000.00 Texas Veterans Land Bonds,
2.25%, due 6-1-71, held under receipt No. 78239
and $50,000.00 Alvin ISD School Building Bonds,
5%, due 4-10-71, held under receipt No. 76262;
and wishes to pledge in lieu of same $275,000.00
Lamar State College of Technology Student Fee,
4.75%, due 10-1-75/80, held under receipts Nos.
93153 and 93150; and,
WHEREAS, after this withdrawal and pledge of
additional securities, the American National
Bank of Beaumont will have sufficient secur-
ities still remaining 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, Texas, be permitted
to withdraw the securities above described from Texas Commerce
Bank N.A. of Houston, Texas and to pledge the above described
securities with the Texas Commerce Bank of Houston, Texas, and
a certified copy of this Resolution shall constitute evidence
of the authority of the American National Bank of Beaumont,
Texas, to make said withdrawal and pledge.
PASSED by the City Council this the 13th day of
October, 1970.
CITY OF WEAUMONT
BEAUMONT, TEXAS
JAS. T. GARRARD October 14, 1970
CITY CLERK
Mrs. Joe Parsley
Investment Department
American National Bank
P. 0. Box 2751
Beaumont., Texas 77704
Dear Mrs. Parsley:.
Attached are; : four (4) Request for Substitution and/or
Withdrawal of Securities held by Federal Reserve Bank of
Dallas, The Republic National Bank of Dallas', Bank ofthe
Southwest, N. A. Houston,, Texas and Texas Commerce Bank
N. A. Houston, Texas Under Joint Safekeeping Receipt..forms
which have been properly executed as requested by you.
City Council, in regular session held Tuesday, ..',
October 13, 1970, authorized the withdrawal of the above
securities.
Yours very truly,
Jas ...T. Garrard
City Clerk
JTG:eme
Attachments 4
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RT QUI?ST FOR S,HSTITUTION ANTI) WIT11DI�AUAL OF SECIMI'IES IIEL 1' I I l,1 S C�O,TTtrl.�,.«fig Q
. CNK N.A.
1101j,s'CON, TEXAS - UNDER JOINT SAFEKi EPING 1�13CEli''1' -
The undersi nod Do-nositor and D oositox^., Jointly request the TEXAS COMMERCE BANK N.A.
.110USTTj. ,_TEXv�1, oo substitute orFpormit a withdravral of the soZirities-vehich it holds
under Joint Safekeeping F.ocjipt issued by it to the undorsigned in occordance; r?.th
the terms of tho xzsoluti.on horeundor quoted and to deliver tho Securities substlCluted
for or rithdra-an to, the party namod in such res,olutionc
CITY
OF
BEAUMONT
BYa�
v`$Jjj QLLK i Depositor
THE AMERICAN NATIONAL BANK OF BEAUMUNT; TEXAS
-- By
D spository
RESOLUTION E
«"ihereas, heretofore., under date of 3-24 & 1-22 of 69 the TEXAS COlUf fERCE BANK N.A.
HOUSTON, ' T F X A S _is6-ued to AMERICAN NATIONAL BANK -OF l3'_%Il . 9 Depository., -in Joint -
SaFe:cecping nooeio or ,,ecei;)ts covering certain securities, and
"ilhereas, both the Depositor, and Depository no,, -7 desire the TEXAS COMMERCE BANK N.A. --
HOUSTON, TEX. to perni.t a substitution of certain securities, or a-rithdra-al of
securities,. which it ncm holds as hereafter more fully set forth; and
"Whereas, the securities, if any, hereinafter fienti-oned, -which the above named parties
desire to substitute in lieu of those heretofore placed in safekeeping with the
TEXAS_ MtMERCE BANK -HOUSTON, TEXAS�9 IUM ) ITH . THE REQUIRE ENTS OFLAS AND HAVE ;Is.Li;
and are hereby approved; and
'+' (hereas the securities, if any, hereinafter mentioned,; vrhich the above named -=parties
wish to Trithdra w, are entitled under the lav- to be withdrawn:
'p\row, therefore, be it resolved: That the TEXAS C011R•1ERCE BANK N.A. HOUSTON, TEXAS
be and it is hereby* requested and authorized to surrender the following securities
heretofore placed with it for safekeeping by'the abovo narned parties, to --wit:
RECEIPT NOQ DESCiZIPTION PAR VALUE.
78239 Texas Veterans Land Bonds 2.25% due 6-1-71 $25,000.00
76262 Alvin ISD Sch. Bldg. 5% Bonds due 4-10-71 50,000.00 '
and to receive in lieu thereof the following securities, i,hich are hereby in all
respects apnroweds
RECEIPT # DESCRIPTION RR [VALUE
93153 Lamar State College of Tech. Student Fee 4.75% 10-1-78D $275,000.01
and 93150
"Be it further resolved: That the TEXAS COMMERCE BANK HOUSTON, TEXAS be and it is
hereby. ai}thorized to deliver the securities described herein to be substituted for or
withdraw to AMERICAN NATIONAL BANK'S SAFEKEEPING ACCOUNT or its order.
This is to certify tilat the above and foregoing resolution was duly passed by
CITY OF BEAUMONT 9 at a meeting properly held on the
day of OCTOBER ,1q 70, the undersigned members, -rho constitute a quorum, being
presents all of ;which fully appears in the 11inutes of said meeting.
SEAL
_ 1
The tzembers of the Governing Body whose signatures z
meeting referred to in the above -certificate.
ea; below wers present at the