HomeMy WebLinkAboutRES 25 GGGi
R E S 0 L UT I 0 N
WHEREAS, the City of Beaumont and the American National
Bank of Beaumont, Texas, entered into a contract dated July 1,
1973, 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:
$1,595,000.00 in U. S. Treasury 4-1/8% Bonds, due 11-15-73.
WHEREAS, the American National Bank of Beaumont wishes
to pledge the following securities with the Federal Reserve Bank
I
of Dallas:
The total above securities being pledged being in the sum of
$450,000; and,
WHEREAS, after this withdrawal, the American National
Bank of Beaumont will have sufficient securities pledged to
protect the deposits of the said City of Beaumont, Texas;
i
Due Date
Cypress Fairbanks I.S.D.
4.50%
2-1-79
$ 25,000
if
4.50%
2-1-80
25..31 000
if
4.50%
2-1-81
25,000
"
4. �,� 0%
2-1-82
25'000
"
4.50%
2-1-83
503000
"
4.150%
2-1-84
505000
"
4.60%
2-1-85
50,000
"
4.607,
2-1-86
505000
"
4.60%
2-1-87
50,000
"
4.80%
2-1-88
503000
"
4.80%
2-1-89
501000
The total above securities being pledged being in the sum of
$450,000; and,
WHEREAS, after this withdrawal, the American National
Bank of Beaumont will have sufficient securities pledged to
protect the deposits of the said City of Beaumont, Texas;
i
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 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.
PASSED by the City Council this the r day of
1973.
May r