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Home My WebLink AboutRES 104 ZZf. . t • , ll l®�4 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 pledge the following securi- ties: $200,000 U. S. Treasury Bills 4.921% due 4-8-71 held under Receipt No. H 53990; $200,000 U.S. Treasury Bills 4.64% due 4-15-71 held under Re- ceipt No. H 54017; and $200,000 U.S. Treasury Bills 4.213% due 4-22-71 held under Receipt No. H 54022; 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; r 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 pledge the above described securities with the Federal Re- serve Bank of Dallas, and a certified copy of this Resolution shall constitute evidence of the authority of the American National Bank of Beaumont, Texas, to make said pledge. PASSED by the City Council this the 9th day of February, 1971. l - Mavor - CITY OF BEAi7M OOT BEAUMONT, TEXAS February 9, 1971 JAS. T. GARRARD CITY CLERK Mrs. Norma K. Schott Investment Department The American.National Bank of Beaumont Beaumont, Texas Dear Mrs. Schott: id Attached are two certified copies`of resolutions authorizing withdrawal and pledge of securities as per the two enclosed.agree- ments. Thank you for your attention in this matter. Yours very truly, Jas. T. Garrard City Clerk JTG:lt ATTACHMENTS INCORPORATED BY THE CONGRESS OF THE REPUBLIC OF TEXAS. DECEMBER 16. 1838 r THE AMERICAN NATIONAL BANK OFAUMONT tj THE AMERICAN CENTER Q�r�.�LF26Q� 07, BEAUMONT, TEXAS 'rY . (fF February 2, 1971 W. G. JOHNSON SENIOR VICE PRESIDENT AND CASHIER Mr. James T. Garrard, City Clerk CITY OF BEAUMONT P. 0. Box 3827 Beaumont, Texas 77704 Dear Mr. Garrard: We attach the necessary forms to pledge an additional $600,000.00 to the time and demand deposits of the City of Beaumont. This will have the net effect of making the total amount of securities pledged to the above account in the amount of $ 8,177,000.00. When the additional pledges of securities have been approved, will you please return the original and one (1) copy to us in order that we may forward the original to the Federal Reserve Bank in Houston, Texas. Thank you for your assistance in this matter. Very truly yours, W. G. Johnson Senior Vice President and Cashier nks Encl: REQUEST FOR SUBSTITUTION AND/OR WITHDRAWAL OF SECURITIES HELD BY FEDERAL RESERVE BANK 0 OF DALLAS UNDER JOINT SAFEKEEPING RECEIPT The undersigned Depositor and Depository jointly request the Federal Reserve Bank of Dallas to substitute or permit a withdrawal of the securities which it holds under Joint Safekeeping Receipt issued by it to the undersigned, in accordance with the terms of the resolution hereafter quoted, and to deliver the securities substituted for or withdrawn to the party named in such resolution. -City of Beaumont, Texas Depositor. 'American National Bank of Bea mont, Texas "Whereas, heretofore, under date of 1-7 0 1-14 & 1-21-71 19_, the Federal Reserve Bank of Dallas issued to None American National Bank of Beaumont, Texas Depositor, and its Joint Safekeeping Receipt or receipts covering certain securities ; and Depository, drawa;"Whereas, both the Depositor and Depository now desire the Federal. Reserve Bank of -Dallas -to permit a substitution of'certain securities, or a with of securities, which it now holds, as hereinafter more fully set forth; and "Whereas, the securities, if any, hereinafter mentioned, which the above named parties desire to substitute in lieu of those heretofore placed in safe• keeping with the Federal Reserve Bank of Dallas, meet with the requirements of law and have been and are hereby approved; and "Whereas, the securities, if any, hereinafter mentioned, which the above named parties wish to withdraw, are entitled under the law to he withdrawn; "Now, therefore, be it resolved: That the Federal Reserve Bank of Dallas be and it is hereby -requested and authorized to surrender the following securities heretofore placed with it for safekeeping by the above named parties, to -wit: RECEIPT NO. DESCRIPTION NONE PAR VALUE' (Here describe securities to be substituted for or withdrawn. If above space is not sufficient, continue description on reverse side hereof.) and to receive in lieu thereof the following securities, which are hereby in all respects approved: H 53990 DESCRIPTION COUPONS PAR VALUE U. S. Treas. Bills (4.921%), due 4-8-71 $ 2`00,000 H 54017 U. S. Treas. Bills (4.64%) due 4-15-71 200,000 _- H-54022 U. S. Treas. Bills (4.213) due 4-22-71 200,000 $ 600,000 (Here describe securities to be taken in substitution or in the event this is a withdrawal without substitution write in the word "None." If above space is not sufficient, continue description on reverse side hereof.) "Be it further resolved: That the Federal Reserve Bank of Dallas be and it is hereby authorized to deliver the securities described herein to be substi. tuted icor or withdrawn to American National Bank of -Beaumont, Texas ^r its order." This Is to certify that the above and foregoing resolution was duly passed by City of Beaumont 9'7 s, (Here insert name of GoverninMg Body) at a meeting properly held on the day of February .29 71 - a quorum being present, all of which hilly appears in the minutes of said meeting. n Secretary or (SEAL) BEC -19 Rev. 10-68 -- — shie: