HomeMy WebLinkAboutRES 31 YY�i yy
A R E S 0 L U T I 0 N
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: $478,000.00, 8% U..S. Treasury Notes
Series E-1971 due 5-15-71, held under receipt
#H51419; 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,.Houston Branch, 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 6th day of
January, 1970.
Mayor -