HomeMy WebLinkAboutRES 85-250 R E S O L U T I O N
WHEREAS, the City has contracted with Texas Commerce Bank ,
Beaumont, as a depository for investment purposes; and,
WHEREAS, Texas Commerce Bank - Beaumont, N.A. wishes to
pledge the following securities with Texas Commerce Bank - Houston,
N.A. .
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury; 11.00%; due $1 ,500,000.00
2/15/90
and,
WHEREAS, Texas Commerce Bank - Beaumont, N.A. wishes to
have released the following security pledged with Texas Commerce
Bank - Houston, N.A. :
RECEIPT NO. DESCRIPTION PAR VALUE
466527 U. S . Treasury Note F89, 11 .875%; $1 ,500,000.00
due 10/15/89
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Texas Commerce Bank-Beaumont, N.A. be permitted to release and
pledge the above-described securities and a certified copy of this
resolution shall constitute evidence of the authority of such bank
to make said release and pledge .
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the ",Ite day of 'd--A , 1985.
Mayor -