HomeMy WebLinkAboutRES 75 122,P 7612-2-
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 with-
draw the following securities from the Federal Reserve Bank of Dallas,
Texas:
RECEIPT NO. DESCRIPTION PAR VALUE
HO 63043 City of Lubbock Elec. Lgt. & Power Rev.
6.500, due 4-15775 $25,000
HO 63028 Victoria Co. Jr. Col. G/0 Bonds, 5.00%,
due 7-1-75 $"25,000
TOTAL --$50,000
and,
WHEREAS, the total above securities being withdrawn from the
Federal Reserve Bank of Dallas, Texas, is in the amount of $50,000.00;
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 with-
draw the above described securities from the Federal Reserve Bank of
Dallas, Texas, 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
day of
('
, 19 75 .