HomeMy WebLinkAboutRES 86-156 R E S O L U T I O N
WHEREAS, the City has contracted with Jefferson Savings
and Loan of Beaumont, Texas as a depository for investment purposes;
and,
WHEREAS, Jefferson Savings and Loan of Beaumont, Texas
wishes to pledge the following security with the Federal Home Loan
Bank - Dallas:
RECEIPT NO. DESCRIPTION PAR VALUE
Federal Home Loan Bank Bond, $ 500,000.00
10.80%; due 2/27/89
and,
WHEREAS, Jefferson Savings and Loan of Beaumont, Texas
wishes to release the following security being held at the Federal
Home Loan Bank - Dallas:
RECEIPT NO. DESCRIPTION PAR VALUE
Federal Horne Loan Bank Bond, $ 500, 000.00
9. 75%; due 7/29/90
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Jefferson Savings and Loan of Beaumont, Texas be permitted to
pledge and release the above-described securities and a certified
copy of this resolution shall constitute the approval of such pledge
and release and evidence of the authority of said bank to make said
pledge and release.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the o?OZVday of 1986.
- Mayor -