HomeMy WebLinkAboutRES 75 1929— 9 IS - / q -0-
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, 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 secu-
rities in lieu of giving bond as.City Depository; and,
WHEREAS, the American National Bank of Beaumont has withdrawn
the following securities from the Texas Commerce Bank of Houston, Texas:
SK RECEIPT #
DESCRIPTION OF SECURITIES
PAR VALUE OF SECURITIES
151 591 Newark, New Jersey.Proj.
Notes, 5.230, due
5-16-75. $3,000,000
The total above securities withdrawn from the Texas Commerce Bank of
Houston, Texas, was in the amount of $3,000,000; and,
WHEREAS, after this withdrawal, the American National Bank of
Beaumont has 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 action of the American National Bank of Beaumont, Texas, in
drawing the above described securities from the Texas Commerce Bank of
Houston, Texas, be, and the same is hereby allowed and ratified, and a
certified copy of this resolution shall constitute evidence of the autho-
rity of the American National Bank of Beaumont, Texas, to make said with-
drawal.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the
�}+h day of 1975.
Mayor) -