HomeMy WebLinkAboutRES 82-272 P,Z. a 7.2
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 withdraw the following securities from Texas Commerce Bank,
Houston, Texas;
Receipt No. Description Par Value
340661 U.S. Treas Notes, 8. 125%
due 8/15/82 $3,000,000. 00
and,
WHEREAS, Texas Commerce Bank of Beaumont, Texas, wishes
to substitute the following securities with the Texas Commerce
Bank, N. A. , Houston, Texas:
Receipt No. Description Par Value
U.S. Treas Notes;
9. 625% due 8/15/85 $ 680,000. 00
8. 25% due 8/15/85 950,000. 00
14. 00% due 12/31/84 370,000. 00
14. 625% due 2/15/85 500,000.00
7. 875% due 5/15/86 300,000.00
7% due 11/15/83 200,000. 00
$3,000,000. 00
WHEREAS, after this pledge Texas Commerce Bank of
Beaumont, Texas, will have $54,905,000. 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
withdraw and 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 31++C day of 19
Mayor -
2 -
,F� 7�