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HomeMy WebLinkAboutRES 74 30q4.� eo R 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 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 Receipt # Description HO 59883 Harlingen, Tex. G/O 3.50%, due 2-1-74 59872 Cypress -Fairbanks ISD 4.30%, due 2-1-74 59880 El Paso, Tex. ISD 4.25%, due 2-15-74 59881 Plano, Tex. ISD 5.00%, due 2-15-74 Value $25,000.00 150,000.00 50,000.00 25,000.00 WHEREAS, the American National Bank of Beaumont wishes to pledge the following securities with the Federal Reserve Bank of Dallas: SK Receipt # Description of Securities Value 822 715 Wichita Falls, Tex. G/O 3.00%, due 2-15-74 $ 50,000.00 872 196 Alief, Tex. ISD Schoolhouse Bonds 5.75%, due 2-15-74 150,000.00 The total above securities being pledged being in the sum of $200,000.00; 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, bepermitted to withdraw the above described securities from 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 Beaumont, Texas, to make said withdrawal. PASSED BY THE CITY COUNCIL of the City of Beaumont, Texas, this the W4 day of 1974. .�.,/sMUT 0 rX THE AMERICAN NATIONAL BANK OF BEAUMONT THE AMERICAN CENTER 7 �4_ BEAUMONT, TEXAS .January 23, 1974 NORMA K. SCHOTT ASSISTANT INVESTMENT OFFICER l Mr. Dean Ransom; Director Finance Department CITY OF BEAUMONT P. O. Box 3827z ------ Beaumont, --- Beaumont, Texas 77704 Dear Mr. Ransom: We attach the appropriate Rel ease forms to free from a pledged status a total of 5450,000.00 in securities, which will mature during the month of February, 1974: $250,000,of these securities are being held at the Federal Reserve Branch Bank in Houston, Texas and $200,000 are being held at Republic. National Bank of Dallas, Texas. We would appreciate your submitting these forms for the approval of the City Council of the City of Beaumont at their next regular- ly scheduled meeting on January 29, 1974, in order that we can return these securities to our free contol, prior to their matur- ity date. We are also taking the liberty to pled22 an additional $2_,000,000 in U. S. Treasury Bills, which will mature on July 25, 1974. This will have the net effect of raising the securities pledged to your Time and Demand Deposits by $1,550,000 to a new total in the amount of $26,266,000.00. These securities are to be held at Texas Comm- erce Bank in Houston, Texas and they will forward appropriate forms to indicate that they are in joint control at an early date. We sincerely appreciate your cooperation in assisting us in the above substitution. If.we can be of any service to you please call on us. Very truly yours, , Assistant Investment Officer Encl: V .EGORV 01: ill THDRA'WAL BRANCH,?` NOUSTGNo Tr -'143 1THDRAW THE SECURI TI �S;, L' --,--ED HEREIN A-10 DELIVER TO �OLLE,CTION (2) 59872 150#000.00 04©0".. AMERICAN NATIONAL BANK 59883 250'000.00 0400 'OTAL .175, 00.0.00+ f ' �1 THDRAWN—V. C. A. C. FD 2$510045512$01 01-30-74 1024 1024 00009 r ' RECEIVED pp�', C' r:i '-i-x AAff HOR IZED -117 D64=73 - - FEDERAL RESERVE BANK CORD OF WI T"DRAWAL BRANCH, ; MOUSTOH. TEXAS ,. . THDRAw TETE SECURITIES LISTED HEREI N AND DELIVER T4 ►FEKEEPING (2) 9880 ` 50, 040.00 0400AMERI CAN NATIONAL BANK ! BEAUMDi�T,' TEXAS i38a1 2S, 000.00 04014 � )TAL 75,#000.00* I THORA&WN-V.C. Q�. � moi. w ■f. �.+.�...+ � ^� • .-.... r.,� FD 20100185 2$01. 02--!30-,--74 1002 1002 00005 ,rel p ;s1 ".a��C�r�ti`S`©FF CL, RECEIVED —'"'" - AITiHOR?`LED •117D64-73 ,,