HomeMy WebLinkAboutRES 35 AAAA 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 the following securities: $200,000.00
U.S. Treasury Bills, due 4-8-71, held under
receipt # H 8654; $2005000.00 U.S. Treasury
Bills, due 4-15-71, held under receipt # H 8655;
and $200,000.00 U.S. Treasury Bills, due 4-22-71,
held under receipt # H- 8656; and,
WHEREAS, after this withdrawal 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, Texas, be permitted
to withdraw the above described securities from the Federal
Reserve 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 withdrawal.
1971.
PASSED by the City Council this the 6th day of April,
—Mayor -
. - -5 A
THE AMERICAN NATIONAL BANK OF BEAUMONT
THE AMERICAN CENTER
BEAUMONT, TEXAS
March'19, 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 form to release $600,000.00 in
Treasury Bills, which are due to mature on April.8, 15,
and 22, 1971, at $200,000.00 respectively.
This will have the net effect of reducing our pledged
securities to your time and demand deposits to a new
total of $ 8,477,000.00, which at the present time is
more -than adequate to cover your demand and time de-
posits.
If it is possible, we would appreciate your submitting
this release for approval in order that we may have them
duly executed on, or before, April 1, 1971.
We sincerely appreciate your deposits and call on us if
we can help you in -any way.
9Very trul ours,
W. G. John n
Senior Vice President
and Cashier
nks
Encl:
G cl
J
INTER -OFFICE MEMORANDUM
CITY OF BEAUMONT, TEXAS
Date April 7, 1971
To: Dean Ransom City Controller
From: J''as. T. Garrard, City Clerk
Subject: REQUEST FOR SUBSTITUTIMI PID/OR tA11THDRA'4AL OF S CURITIES
COMMENT:
Attached is a Request for Substitution anl:I/or 'Withdrawal of Securities
lield by the Federal Reserve 1-a.nk of Dallas Under Joint Safekeeping
Receipt forms which have been properly executed as requested by you.
City CotlnCil , in regular session 'field Tuesday, April 6, 1971 ,
authorized withdrawal of securities.
Yours vert, truly,
Jai. T. �';arrard.
City Clcrk
JTG:eeb
Attachment
REQUEST FOR SUBSTITUTION AM®/oR WITHDRAIMAI. OF,, SECURITIES IiEI ^ -mY FEDERAL RESER!/ BANK
y
OF I, AS UNDER JOINT SAFEKEEPING RECEIr
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
By
Depositor.
American National Bank of Beaumont, Texas
By
RESOLUTION ° G, Jo nson, Senior Vice mss'. & Cashier
"Whereas, heretofore, under date of 2-12-71 19 , the Federal Reserve Bank of Dallas issued to
City of Beaumont, Texas Depositor, and
American National Bank of Beaumont, • Texas Depository,
its Joint Safekeeping Receipt or receipts covering certain securities; and
"Whereas, both the Depositor and Depository now desire the Federal Reserve Bank of Dallas to permit a substitution of certain securities, or a with-
drawal of securities, which it now holds, as hereinafter more fully set forth; and
Whereas, the securities, if any, hereinafter mentioned, which the above nam -- — - -- - --
•• ed parties desire to substitute in lieu of those heretofore placed in safe -
1,4w hereas, the securities, if. any, hereinafter mentioned, which the above named parties wish to withdraw, are entitled under the law to be 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 PAR VALUE
H 8654 U. S. Treasury Bills, due 4-8-71 $ 200,000
H 8655 U. S. Treasury Bills, due 4-15-71 200,000
H'8656 U. S. Treasury Bills, due 4-22-71 200,000
f
ti
I
(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:
I
DESCRIPTION COUPONS PAR VALUE
NONE
(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.)
i
"Be it further resolved: That the Federal Reserve Bank of Dallas be and it is hereby authorized to deliver thl securities described herein to be substi-
tuted -for or withdrawn to American National.Rank n'f Re aumnnt, TpX
_ rI...S or its order."
z ,
This is to certify that the above and foregoing resolution was duly passed'by City of Beaumont,Texas
(Here insert name of Governing Body)
at a meeting properly held on the day of March 1971a quorum being present, all of which fully
appears in'the minutes of said meeting.
I
CIT`l,-CLERK
(SEAL) ;.
SEC -19 Rev. 10-66