HomeMy WebLinkAboutRES 83-254 r3
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 October 1 , 1981 , 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 Federal Reserve Bank of
Dallas, Texas:
RECEIPT NO. DESCRIPTION PAR. VALUE
HO 59861 Brazos River Auth. , 6 .25% $ 55 ,000 .00
due 2/01/74
HO 62588 Cypress Fairbanks ISD, 4 .50% 50,000 .00
due 2/01/84
HO 59865 So. San Antonio, ISD, 7% 30,000.00
due 2/01/84
HO 63052 City of Lubbock Elec. , 470% 25,000.00
due 4/15/84
HO 59996 Jeff Co . Bridge, 4 .50% 140,000 .00
due 4/15/84
The securities being withdrawn from the Federal Reserve Bank of
Dallas, Texas are in the total amount of $300,000. 00 ; and,
WHEREAS, the Texas Commerce Bank of Beaumont, Texas wishes
to withdraw the following securities from Texas Commerce Bank N.A.
Houston, Texas:
RECEIPT NO. DESCRIPTION PAR VALUE
167315 Alvin Junior College Dist. , $ 100,000 . 00
5 . 200; due 2/01/84
178278 Terrell Texas GO Bonds , 5 .20%; 30,000.00
due 2/01/84
172367 City of Baytown GO, 5 .75%; 50,000.00
due 2/01/84
176509 Tyler ISD School, 6 .25%; 200,000. 00
due 1/01/84
333071 City of El Paso, 12.% ; 400,000.00
due 1/01/84
214181 Webster Tx, 5 .40%; due 5/01/84 50,000 .00
177760 Westheimer Rd. Mud, 5%; 30,000 . 00
due 4/01/84
The securities being withdrawn from the Texas Commerce Bank N.A.
Houston, Texas are in the total amount of $ 860,000 . 00 ; and,
WHEREAS, after this withdrawal, the Texas Commerce Bank of
Beaumont, Texas will have $ 36 ,500,000. 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
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 withdrawal.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the
1_J day of 19On .
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