HomeMy WebLinkAboutRES 86-269 R E S O L U T I O N
WHEREAS, the City has contracted with Texas Commerce Bank
Beaumont, N.A . , and Jefferson Savings and Loan of Beaumont as
depositories for investment purposes; and,
WHEREAS, Texas Commerce Bank Beaumont wishes to pledge
the following security with Texas Commerce Bank Houston:
RECEIPT NO. DESCRIPTION PAR VALUE
GNMA, 11 .50°x; due 5/15/2013 $2,419,000.00
and,
WHEREAS, Jefferson Savings and Loan of Beaumont wishes to
release the following securities being held at the Federal Reserve
Bank - Dallas:
RECEIPT NO. DESCRIPTION PAR VALUE
114151 FHLB Bonds , 10.80°x; due 2/27/89 $ 500,000.00
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Texas Commerce Bank Beaumont, N.A. , and Jefferson Savings and
Loan of Beaumont 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 _ day of _ 1986.
Mayor -