HomeMy WebLinkAboutRES 75 459R 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 September 9, 1975,
whereby it was provided that the said American National Bank of Beau-
mont would pledge with the City Council of the City of Beaumont.cer-
tain 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, Texas:
RECEIPT NO.
DESCRIPTION
PAR VALUE
HO
64412/15
City of Houston Sports Arena Rev.
7.00$ due,: 12-1-78/81 at
.$75,000 ea.
$300-11000
HO
64416/18
City of Houston.Sports Arena Rev.
5.60% due,,12-1-82/84 at
$75,000 ea.
$225,000
HO
59804
City of San Antonio at 3.700, due
1-1-76
$100,000
HO
59874
Corpus Christi ISC'at 3.40%, due
2-1-76
$ 30,000
HO
59876
Klein ISC at 3.600, due 2-1-76
$200,000
HO 60002 City of -Lubbock, Texas at 3.500,
due 3-1-76 $ 25,000
HO 59907 Garland, Texas Elec. Water & Sewer
at 7.00%, due 3-1-76 $ 25,000
HO 59832 Texas.Tech University at" -6.50%, due
4-1-76 $ 70,000
HO 63044 City of Lubbock Elec. Lgt. & Pwr. at
6.50%, due,4-15-76 $ 25,000
TOTAL ----- $1,0-00,000
and,
WHEREAS, the American National Bank of Beaumont wishes to pledge
the following securities and/or U. S. TreasuryiNo.tes with the Texas Com-
merce Bank of Houston, Texas:
NOTE NO. DESCRIPTION'OF''SE'CU'RITIES PAR VALUE
168 378 U. S. Treas. 8.125% Notes, due 8-15-82 $700,000
DESCRIPTION OF ,SECURITIES (Continued)
Judson I.S.D. U/T 5.00%, due 12-1-82
PAR VALUE
$ 25,000
Judson I.S.D. U/T 5.60%,.due 12-1-87/88 $ 75,000
Judson I.S. D. U/T 6,00%, due 12-.1:-89/92 $200,000
Judson I.S.D. U/T 6.20%, due 12-1-94/95 $100,000
The total above securities and/or U. S. Treasury Notes being pledged in
the sum of $1,100,000; 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
cif j+h day o f Qa�uma-AA' 1975.
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