HomeMy WebLinkAboutRES 21 CCCKEWJr/gh/3/9/72
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A R E S 0 L U T I 0 N
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WHEREAS, the City of Beaumont and the American National
Bank of Beaumont, Texas, entered into a contract dated .July 1,
1971, 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 from the Texas Commerce Bank of Houston:
$ 50,000 Harris Cnty Rd. 5.00% Bond due 6-10-72, held under
receipt #52973
$ 50,000 Harris Cnty Office & Courts Bldg. 5.00% due 6-10-73,
held under receipt #52972
$3005000 Pt. of Beaumont Nav: Dist. U/T Impr. 6.25% Bonds,
due 3-1-91, held under receipt #107131
$160,000 Spring Branch ISD 6.50%, due 2-1-86, held under
receipt #107132
$135,000 Spring Branch ISD 6.50%, due 2-1-87, held under
receipt #107133
$205,000 Spring Branch ISD 6.50%, due 2-1-88, held under
receipt #107134
The Total above securities being withdrawn being in the sum of
$900,000; and,
WHEREAS, the American National Bank of Beaumont wishes
to pledge the following securities with the Texas Commerce Bank
of Houston:
$100,000 Corpus Christi ISD U/T 3.90% Bonds, due 7-1-85,
held under receipt #101152
$100,000 Houston ISD 3.40% Bonds, due 8-10-85, held under
receipt #99848
The total above securities being pledged being in the -sum of
$200,000; and,
WHEREAS, after this withdrawal and pledge of additional
securities, the American National Bank of Beaumont will have
sufficient securities still remaining pledged to protect the
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 the Texas
Commerce Bank of Houston, and to pledge the above described
securities with the Texas Commerce Bank of Houston, and.a-
certified copy of this Resolution shall constituteevidence
of the authority of -the American National Bank of Beaumont,
Texas, to make said withdrawal and pledge.
PASSED by the City Council this theiJ. day of
1972.
Mayor -