HomeMy WebLinkAboutRES 94 EEEKEWJr/im/2/19/,--
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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, 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 $850,000.00 U. S. Treas. Bills due
2-22-73 held under receipt #117030; $800,000.00
U. S. Treas: Bills due 2-22-73 held under receipt
#117930; and $750,000.00 U. S. Treas. Bills due
2-22-73 held under receipt #59978 and wishes to
pledge in lieu thereof $1,000,000.00 U. S. Treas.
6 3/4% Notes due 2-15-93 and $1,400,000.00 U. S.
Treas. 7% Notes due 11-15-75; and,
WHEREAS, after this withdrawal and pledge of
additional Notes, 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 Texas Commerce Bank of Houston, Texas, and to pledge a like
amount of 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 `Z� day of
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Mayor -