HomeMy WebLinkAboutRES 41 FFFKEWJr/im/4/18/73
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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 of Beaumont,
wishes .to pledge with the Federal Reserve Bank
of Dallas $375,000 Irving, Texas I.S.D. U/T
4.75%, due 4-1-85; and,
WHEREAS, the American National Bank of Beaumont
wishes to withdraw from the Texas Commerce Bank
of Houston, Texas, $300,000 Houston Wtr. Sys.
Interim Sub. Rev. 5.50%, due 12-1-78, held under
Receipt No. 104819, and $200,000 U. S. Treas.
7.00% Notes, due 11-15-75, held under a part of
Receipt No. 119440; and,.
WHEREAS, after this withdrawal and pledge, 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
Texas Commerce Bank of.Houston, Texas, and to pledge the above-
described security with 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 and pledge.
PASSED by the City Council this day of ,
1973.
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