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Home My WebLink AboutRES 87-226 AGERIDA ITEM R E S 0 L U T 1 0 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 securities with Texas Commerce Bank Houston effective November 3 , 1987 : RECEIPT NO. DESCRIPTION PAR VALUE Houston, Texas GO, 5%; $ 500 , 000. 00 due 9/01 /92 Ft. Worth GO, 9.50%; 700 ,000.00 due 6/01 /98 and, WHEREAS, Texas Commerce Bank - Beaumont wishes to release the following securities being held at Texas Commerce Bank - Houston effective November 13 , 1987: RECEIPT NO. DESCRIPTION PAR VALUE Houston, Texas GO, 5%; $ 500 , 000 .00 due 9/01 /92 Ft. Worth GO, 9 .50%; 700,000 .00 due 6/01 /98 NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BEAUMONT: 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.