HomeMy WebLinkAboutRES 95-246 RESOLUTION NO.
WHEREAS, the City has contracted with Texas Commerce Bank National
Association as a depository for investment purposes; and,
WHEREAS, Texas Commerce Bank National Association wishes to pledge the
following security being held at Bank One - Dallas, effective September 26, 1995:
Security Current Value Market Value
FHLM #640010, Due 9/1/00 $5,191,655.76 $5,172,187.06
CUSIP #3128DBAK3, 6.5%
FHLM #640010, Due 6/1/02
CUSIP #3128DBEN3, 7.0% $2,939,736.90 $2,968,215.66
Total $8,131,392.66 $8,140,402.72
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Texas Commerce Bank National Association be permitted to pledge the above-
described securities and a certified copy of this resolution shall constitute the approval of
such pledge as evidence of the authority of said bank to make said pledge.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the day of
n J
11995.
- Mayor -