HomeMy WebLinkAboutRES 85-280 R E S O L U T I O N
WHEREAS, the City has contracted with First City National
Bank - Beaumont, N.A. as a depository for investment purposes; and,
WHEREAS, First City National Bank - Beaumont, N.A. wishes
to pledge the following security being held at the Federal Reserve
Branch - Houston;
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury; 7 .20%; due $1 ,000,000.00
2/20/86
and,
WHEREAS, First City National Bank - Beaumont, N.A. wishes
to have released the following securities being held at the Federal
Reserve Branch - Houston;
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Note, 13.0%; $1 ,000,000.00
due 6/30/86
U. S. Treasury Note, 10.75%; $3 ,000,000.00
due 3/31/87
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT First City National Bank-Beaumont, N.A. be permitted to pledge
and release 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 day of ® �, 1985.
Mayor -