HomeMy WebLinkAboutRES 87-140 a J ^-
JP7-.4c0
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 wishes to
pledge the following security with Texas Commerce Bank - Houston,
effective July 9,1987:
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Note, 6.75%; $1 ,500,000
due 9/30/90
and,
WHEREAS, Texas Commerce Bank - Beaumont wishes to
release the following security effective July 16, 1987 subject to
the approval of the city' s purchase of a U. S. Treasury Note for
$2,000,000 par on the same date:
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Note, 6.75%; $1 ,500,000
due 9/30/90
and,
WHEREAS, Texas Commerce Bank - Beaumont wishes to
purchase the following security for settlement on July 15, 1987:
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Note, 8.78%; $2,000,000
due 8/31 /87
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
AP—,V2Y,A 7 ic/-17
THAT Texas Commerce Bank - Beaumont be permitted to pledge and
release the above-described securities and a certified copy of
this resolution shall constitute the approval of such pledges and
releases as evidence of the authority of said bank to make said
pledges and releases.
PASSED BY THE CITY COUNCIL of the City of Beaumont this
the day of �, 1987.
Mayor -
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