HomeMy WebLinkAboutRES 74 265R '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, 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:
Receipt No. Description Par Value
59860 Galveston Co. Water Rev. 6.50%, due
8-1-74 $ 100,000
59913 Houston Pub. Impr. 6.00%, due
8-1-74 250,000
8026 U. S. Treas. 5-5/8% Notes, due
8-15-74 684,000
TOTAL ---------$1,034,000
WHEREAS, after this withdrawal, the American National Bank of
Beaumont will have sufficient securities pledged to protect the depo-
sits of the said City of Beaumont, Texas;
NOW, THERFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the American National Bank of Beaumont, Tex, 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 of the City of Beaumont this the
J� day of , 1974.