HomeMy WebLinkAboutRES 87-212 R E S O L U T I O N
WHEREAS, the City has contracted with Parkdale Bank -
Beaumont as a depository for investment purposes; and,
WHEREAS, Parkdale Bank of Beaumont wishes to pledge the
following security with First City National Bank of Houston
effective October 13, 1987:
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Notes; $ 200,000.00
due 1 /31 /88
and,
WHEREAS, Parkdale Bank of Beaumont wishes to release
the following securities being held at First City National Bank -
Houston:
RECEIPT NO. DESCRIPTION PAR VALUE
Federal Natl. Mort. Assoc. , $ 200,000.00
7.50%; due 10/13/87
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Parkdale 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 /3 day of (r41441ftll , 1987.
Mayor -
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