HomeMy WebLinkAboutRES 13 YYi3 Y y
A RE SOLUTION
WHEREAS, The City of Beaumont and the American
National Bank of Beaumont, Texas, entered into
a contract dated July 1, 1969, whereby it was
provided that the said American National Bank
of Beaumont would pledge with the City Council
of The City of Beaumont certain securities in
lieu of giving bond as City Depository; .and,
WHEREAS, the American National Bank of Beaumont
wishes to pledge the following additional secu-
rities: $500,000.00, 3 7/8% U. S. Treasury Bonds
of 1971 due 11-15-71, held under receipt#H 51389
and $255,000.00, 4 3/4% U. S. Treasury Notes
Ser. B-1972 due 5-15-72, held under receipt
# H 50369; and,
WHEREAS, after this additional pledge, the
American National Bank of Beaumont will have
sufficient securities pledged to protect the
deposits of the said City of Beaumont, Texas;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL
OF THE CITY OF BEAUMONT:
That the American National Bank of Beaumont be permitted to
pledge the additional above described securities with the
Federal Reserve Bank of Dallas, and a certified copy of this
resolution shall constitute evidence of the authority of the
American National Bank of Beaumont, Texas, to make said
additional pledge.
PASSED by the City Council this the 18th day of
November, 1969.
- Mayor -
J