HomeMy WebLinkAboutRES 99-162 RESOLUTION NO. (
BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF BEAUMONT:
THAT the City Council hereby approves release of the Surety Bonds issued by MBIA
Insurance Corporation pledged by Chase Bank of Texas, N.A. in the following amounts,
effective May 21, 1999:
Receipt# Description Current Value Market Value
1066 MBIA Certificate of Insurance $5,500,000.00 $5,500,000.00
1178 MBIA Certificate of Insurance $840,000.00 $840,000.00
TOTAL $6,340,000.00 $6,340,000.00
The Surety Bonds are authorized to be released effective May 20, 1999.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the day
of 1999.
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- Mayor -