HomeMy WebLinkAboutRES 90-001 RESOLUTION
WHEREAS, the City has contracted with Texas Commerce Bank - Beaumont as
a depository for investment purposes; and,
WHEREAS, Texas Commerce Bank - Beaumont wishes to release the following
securities being held at the Federal Reserve Bank of Dallas/Houston Branch, effective January
2, 1990:
RECEIPT NO. DESCRIPTION PAR VALUE
912827PA4 U.S. Treasury Note, @10.50%; $700,000.00
due 1/15/90
and,
WHEREAS, Texas Commerce Bank - Beaumont wishes to replace the above-
described securities being held at Federal Reserve Bank of Dallas/Houston Branch effective
January 2, 1990, with the following:
RECEIPT NO. DESCRIPTION PAR VALUE
912827VM1 U.S. Treasury Note @ 8%; due $720,000.00
11/15/90
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT Texas Commerce Bank - Beaumont be permitted to release and pledge the above-
described securities and a certified copy of this resolution shall constitute the approval of such
release and pledge as evidence of the authority of said bank to make said release and pledge.
L
PASSED BY THE CITY COUNCIL of the City of Beaumont this the ,2,�e day
of �� , 1990.
- Mayor -
- z -