HomeMy WebLinkAboutRES 88-126 .AGENDA ITEM
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R E S O L U T I O N
WHEREAS, the City has contracted with First City Bank -
Beaumont as a depository for investment purposes; and,
WHEREAS, M Bank - Beaumont wishes to pledge the
following securities as substitution for securities which are
being held at First Republic Bank of Dallas, effective June 21 ,
1988 ;
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Note @ 6.625% $500,000.00
due 2/15/92
and,
WHEREAS, M Bank - Beaumont wishes to release the
following securities being held at First Republic Bank - Dallas
effective June 21 , 1988:
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Note @ 6.625%; $100,000.00
due 5/15/92
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT M 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 pledge and
release as 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 , 1988.
Mayor -
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