HomeMy WebLinkAboutRES 88-216 AG ITEM
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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 securities as substitution for securities
which are being held at Federal Reserve Bank of Dallas/Houston
Branch, effective October 11 , 1988 ;
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Note @ 7 .25% $1 ,000 , 000. 00
due 6/30/90 , Cusip #912827TU6
and,
WHEREAS, Texas Commerce Bank - Beaumont wishes to
release the following securities being held at Federal Reserve
Bank of Dallas/Houston Branch effective October 11 , 1988 : :
RECEIPT NO. DESCRIPTION PAR VALUE
U. S. Treasury Note @ 8. 625%; $2 , 000, 000. 00
due 11 /15/88, Cusip ##91 2827SX1
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 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 ofi �.d - , 1988.
Mayor -
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