HomeMy WebLinkAboutRES 81-371 R E S O L U T I O N
WHEREAS, the City of Beaumont and the Texas Commerce
Bank of Beaumont, Texas, entered into a contract September 25 , 1979
whereby it was provided that the Texas Commerce Bank of Beaumont,
Texas, would pledge with the City Council of the City of Beaumont
certain securities in lieu of giving bond as City Depository; and,
WHEREAS, the Texas Commerce Bank of Beaumont, Texas,
wishes to withdraw the following securities from the Texas Commerce
Bank of Houston, Texas:
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treas Notes, due 2/15/85 $1 ,000, 000.00
8 .00%
U. S. Treas Notes, due 8/15/85 $1 ,000 ,000.00
9 .625%
The total securities being withdrawn from the Texas Commerce Bank of
Houston are in the amount of $2 ,000,000.00 ; and,
WHEREAS, after these withdrawals , the Texas Commerce
Bank of Beaumont, Texas, will have $40,165 ,000.00 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 Texas Commerce Bank of Beaumont, Texas, be permitted to
withdraw the above-described securities, and a certified copy of this
resolution shall constitute evidence of the authority of the Texas
Commerce Bank of Beaumont, Texas, to make said withdrawal.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the ea�( day of ��„ � , 19 IP/ .
V
Mayor -