HomeMy WebLinkAboutRES 66 DDDKEWJr/gh/8/25/7
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A RES OLUTION
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 with-
draw the following security from the Bank of the Southwest,
N.A., Houston, Texas:
$ 100,000 Fed. Land Banks 8.35% due 9-15-72
held under Receipt #123412
The total above security being withdrawn being in the sum
of $100,000; and,
WHEREAS, the American National Bank wishes to with-
draw the following securities from the Texas Commerce Bank
of Houston, Texas:
$ 100,000 Federal Land Banks Bonds, 8.35% due
9-15-72, held under Receipt #3108
$ 240,000 Gulf Coast Waste Disposal Auth. City of
Houston Sewer System 4.20%, due 9-1-72,
held under Receipt #104848
The total above securities being withdrawn being in the sum
of $340,000; and,
WHEREAS, the American National Bank wishes to with-
draw the following security from. -the Republic National Bank,
Dallas, Texas:
$ 250,000 Waco Tex. Proj. Notes 5th Ser., 3.09%,
due 9-8-72, held under Receipt #872195
WHEREAS, the American National Bank wishes to pledge
the following securities with the Bank of the Southwest of
Houston, Texas:
$
200,000
U. S. Treas. 5 7/8% Notes due 8-15-75,
held under Receipt #138613
$
253000
E1 Paso ISD 3.50% due 5-1-75, held
under Receipt #87492
$
25,000
Amarillo, JCD 3.60% due 5-1-76, held
under Receipt #87614
$
263000
Bryan, ISD 3.90% due 12-1-76, held
under Receipt #
$
25,000
Dallas ISD 3.75% due 7-1-77, held
under Receipt #
$.
25,000
Lubbock G/0 3.00% due 3-15-77, held
under Receipt #
$ 25,000 Houston ISD 3.20% due 8-10-78, held
under Receipt #142551
$ 35,000 Tex. Tech Gen. Tuit. Fee Rev. 6.50%
due 4-1-80, held under Receipt #
$ 25,000 '-Spring Branch ISD 5.50% due 2-1-84,
held .under Receipt #
$ 25,000 Plainview ISD 3.25% due 11-15-84,
held under Receipt #
The total above securities being pledged being in the sum
of $436,000; and,
WHEREAS, the American National Bank wishes to pledge
the following securities with the Texas Commerce Bank of
Houston, Texas:
$ 25,000 Hurst -Euless -Bedford ISD U/T 5.00%
due 11-1-75, held under.Receipt #74451
$ 50,000 Longview ISD 3.25% due 5-1-76, held
under Receipt #100560
$ 50,000 Houston, Texas G/0 6.00% due 11-1-77,
held under Receipt #96433
$ 25,000 St. of Tex. G/0 Vet. Land 3.50% due
6-1-78, held under Receipt #67512
$ 25,000 Baytown G/0 4.25% due 2-15-78, held
under Receipt #73454
$ 25,000 Alief ISD U/T 4.00% due 3-1-79, held
under Receipt, -#73688
$ 25,000 Dallas G/0 6.00% due 4-1-79, held
under Receipt #90293
$ 25,000 Harris Cnty Ship Channel Nay. Dist. Rev. 4.00%
due 5-1-79, held under Receipt #73900
The total above securities being pledged being in the sum
of $250,000; 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
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 the Bank of the
Southwest, N.A., Houston, Texas, the Texas. Commerce Bank of
Houston, Texas, and the Republic National Bank of Dallas, Texas,
and to pledge the above described securities with the Bank of
the Southwest of Houston, Texas and 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 day of
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1972.