HomeMy WebLinkAboutRES 82-184 R E S O L U T I O N
WHEREAS, the City of Beaumont and Texas Commerce Bank of
Beaumont, Texas entered into a contract dated October 1, 1981,
whereby it was provided that 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, Texas Commerce Bank of Beaumont, Texas, wishes
to pledge the following securities with Texas Commerce Bank,
Houston, Texas;
Receipt No. Description Par Value
Port Dev Corp. Term Rev.
(1982) (PAKTANK CORP-DEER
PARK)
DUE : 4/01/1985, 13% $100,000. 00
4/01/1989, 13% 100,000. 00
4/01/1991, 13% 100,000.00
4/01/1993, 13% 100,000.00
4/01/1994, 13% 100,000.00
4/01/1995, 13% 100,000. 00
4/01/1996, 13% 100,000. 00
4/01/1997, 13% 150 000.00
50,000.00
Ft. Bend County Indl. Dev.
Corp. - Real Estate Rev.
Bonds
DUE : 1/01/1986, 13% $150,000.00
1/01/1990, 13% 175,000.00
1/01/1992, 13% 100,000.00
1/01/1995, 13% 100,000. 00
1/01/1996, 13% 105,000.00
1/01/1997, 13% 110,000.00
7 55,000.00
WHEREAS, after this pledge Texas Commerce Bank of
Beaumont, Texas, will have $48,930,000.00 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 Texas Commerce Bank of Beaumont, Texas, be permitted to pledge
the above described securities, and a certified copy of this
resolution shall constitute evidence of the authority of Texas
Commerce Bank of Beaumont, Texas, to make said pledge.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the 25t4 day of 19
Mayor -
2 -