HomeMy WebLinkAboutRES 74 54/7
R E S 0 L' U TI 0 N
WHEREAS, the City of Beaumont and the American National Bank
of Beaumont, Texas, entered into a contract dated July 1, 1973, where-
by 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:
Description
U. S. Treasury Bonds 4 1/4%, due 5-15-85/75
Arlington, Tex. Comb. G/O $ Rev. Bonds
5..00%
due
2-15-87
100,000
5.25%'.due
2-15-91/89
100.,000
5.30%
due
2-15-93/89
100,000
5.35%
due
2-15-95/89
100,000
5.40%
due
2-15-97/89
100,000
5.50%
due
2-15-99/89
100,000
Par Value
$500,000
600,000
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 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 this the
/91i day of 1.974.