HomeMy WebLinkAboutRES 83 FFFKEWJr/gh/5/25/7.-
83 FFF
A 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 of'Beaumont wishes.
to withdraw the following securities from the'Federal Reserve
Bank of Dallas:
$ 50,000 Wichita Falls G/0 5.00%, due 6-1-73, held
under Receipt No. 59961
10,000 Corpus Christi ISD 4.00%, due 6-1-73, held
under Receipt No,.. .60014
25,000 Harris Co. Juvenile Home- 5.00%, due 6-10-73,
held under Receipt No. 60015
The total above securities being withdrawn being in the sum of
$85;000; and,
WHEREAS,.the American National Bank of Beaumont wishes
to withdraw .the following securities from the First National
Bank of Dallas, Texas:
$ 40,000 Arlington WW/SS Rev. 4.00% Bonds due 6=1-731
held under Receipt No. 001506 (228765)
The total above securities being withdrawn being in the sum of
$40,000; and,
WHEREAS, the American National Bank of Beaumont wishes
to withdraw the following securities from the Texas Commerce
Bank of Houston, Texas:
$ 150,000 U.S. Treas. 6.75% Bonds, due 2-15-93
held under Receipt No. 119247
F FF
$2,800,000 U.S. Treas.. 6.75% Bond, due 2-15-93
held under Receipt No. 120618
7003000 U.S. Treas,. 7.00% Note', due 11-15-75
The total above securities being withdrawn being in the sum of
$4,650,000; and,
WHEREAS, the American National Bank of Beaumont wishes
to pledge the following securities with the Federal Reserve
Bank of Dallas:
$ 120,000 Dallas WW/SS Rev.'; 4.90% due 4-1-85
3001000 ' Arlington, Tex.'I.S.D.. 5.50%, due 4-15-85
100,000. Arlington, Tex. I.S.D. 5.50%, due 4-15-86
200,000 Houston Wtr. Sys. Rev. 5.,75%, due 12-1-89
2003000 Houston Wtr. Sys. Rev.. 5.75%, due 12-1-91.
The total above securities being pledged:being in the sum.of
$920,000; and,
WHEREAS, the American National Bank of Beaumont wishes
to pledge the following securities with the Texas Commerce Bank
of Houston, Texas:
$ 350,000 U.S. Treas. 6.00% Notes, due 11-15-78
3,000,000 U.S. Treas. 4.125% Bonds, due 11-15-73
The total above securities being pledged being in the sum of
$3,350,000; and
WHEREAS, after said withdrawals and pledges, the
American National Bank of Beaumont will have sufficient secu-
rities 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:
•• i
That the American National Bank of Beaumont, Texas, be per-
mitted to withdraw the securities above described from the
Federal Reserve Bank of Dallas, the First National Bank of
Dallas, Texas, and the Texas Commerce.Bank of Houston, Texas,
and to pledge the above described securities with the Federal
Reserve Bank of Dallas 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 withdrawals and pledges.
PASSED by the City Council this the /L day of
4
1973.
Mayor -