HomeMy WebLinkAboutRES 41 YY.41o.YY
A. RE S GLUT I0N
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: $100,000.00 Federal Land Banks 8.35%
Bonds dated 9-22-69 with 3-15-70 & SCA, due
9-15-72, held under receipt #3108; 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
Texas National Bank of Commerce, 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 thed:27 day of
1970.
tc.` vJ
- Mayor -