HomeMy WebLinkAboutRES 21 HHHR E S O L U T I O 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 Cath 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:
Receipt # Description Value
59829 Waco, Tex. New Hsg. Auth. 5.00%,
TOTAL -----$855,000
due 12-01-73
$ 75,000
59964
San Antonio New Hsg. Auth. 2-7/8%,
due 12-01w-73
400 , 000
59970
Bay City SS/SS Tax Bond 4.50%,
due 12-01-73
20,000
59826
Dallas G/0 Var. P.urp. 10.00%, due
12-01-73
50,000
59999
Gregory -Portland ISDRef. 2.75%,.
due 12-01-73
254000
59799
Houston Bridge & Grade 3,25%, due
12-01-73
10,000
59825
Houston Civic Center 3.25%, due
12-01-73
25,000
59959
North East ISD.Sch. Bldg. 5.00%,
due 12-01-73
25,000
59969
Ector Co. ISC Sch. Bldg. 3.00%,
due 12-15-73
1755000
59965
Pasadena, Tex. G/0 5.75%, due
12-15-73
50,000
TOTAL -----$855,000
N
WHEREAS, the American National Bank of Beaumont wishes to
pledge the following securities with the Federal Reserve Bank of
Dallas:
Description Par Value
City of Houston Sports Arena Rev.Bonds:.
7.00%, due 1978/81 at $75,000 ea. $300.,000
.5.60%, due 1982.91 at $75,000 ea. 750,000
The total above securities being pledged being in the sum of
$1,050,000.00; 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;
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 frorri-the Federal Reserve
Bank of Dallas, and a certified copy of this Resolution shall con-
stitute evidence of the authority of the -American National Bank of
of Beaumont, Texas, to make said withdrawal..
PASSED BY THE CITY COUNCIL of the City of Beaumont, Texas,
this the �k' day of �Q�Y)?Q� 1973.