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Home My WebLink AboutRES 55 ZZ.55 Z z 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 wishes to withdraw $700,000.00-U. S. Treasury Notes, 5%, due 11-15-70, held under receipt No. H 7356; $379,000.00 U. S. Treasury Notes, 5%, due 11-15- 70, held under receipt No. H 7170; and $300,000.00 U. S. Treasury Notes, 5%, due 11-15-70, held under receipt No. H 7403; and wishes to pledge in lieu of same $400,000.00 U. S. Treasury Notes,Series B-1977; 7 3/4%, due 8-15-77, held under receipt No. H 53048; and, WHEREAS, after,this withdrawal and pledge of additional Notes, the American National Bank of Beaumont will have sufficient securities still remaining 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, Texas, be permitted to withdraw the securities above described from the Federal Reserve Bank.of Dallas and to pledge the above described secur- ities 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 withdrawal and pledge. PASSED by the City Council this the 13th day of October, 1970. October 14, 1970 Mrs. Joe Parsley Investment Departmarrt America. National Bank P. O� Bom 2751 Boamonts Texas . 77704 Doar Y,rso ' Parsley-. Attached are four (4) Rea,,uest for Substitution and/or Withdrawal of Securities h6l.d by Federal Reserve Banok of Dallas, The Republic National Bank of Dallas, Bank of the Southwest, 11. A. Houston, Texas and Tetras Conmeroe Bank N. A. Ho+.aston, Texas' tinder Joint Safekeeping Recei_Tlril ferns which have, .been properly executed as requested b- ,you... City Council, in regular session held Tuesday, Octcaber 1-3, 1970, authorized the withdrawal of the above securities. Yours very.truly, Jas. T. Garrard City Clerk JTG: eras: Attachments h, To From Subject: INTER -OFFICE MEMORANDUM CITY OF BEAUMONT, TEXAS n o OCTOT-,CR , 14, J-970 DB Y] rAKSCri, CITY COXT1101,I,jr i. JAS. T. GARRARD, CITY CLLPJ� PEQUEST FOR SUBS 'IyUTIO'H AD,E/OIC 1VI71iDP.A!-bkL OF' SECURLIT= COMMENT: Atta,_:hc6 ai four (4) Request f^r Substituticn and/or Jith— drawal. of Secur.i.t _es held by Federal Reserve Bank- of Dallus, The Republic Kational Tank, of Dallas, Bank of tb,) Southwost, N. A. Houston, 1'ox_as and Texas Corim-rce Bann_ N. A. Houston, Texas under Joint Safokec.r,iiug T.oceiPt for n which have been properly oxecuted. Ci-c,y Ccmicil, ?.r r°ogl-lar session held Tuesday, October 13, 197t�, &-,x- hcr•.iznrl tho irithdra al of the abova securities. r11'• .-• 1 T,_;- 0.x:, vl: i`�' v s 1 y9 JTG, ci o A't-c�.chrs- r�t:7 1- Jas. T. Gari ar(c REWEST FOR SUBS-NTUTION I __ iorz E+' rn-,Dr,-AV AL 011 Gr-_C:U :1'"1 5 :,- -) Ew FEDERAL RESERVE BANK OF.,—,'-LAS UNDER JOINT SAFEKEEPING Feil T / \ �� zz 1 -1 t19 )Ij The. undersigned Depositor and Depository jointly request the Federal l:e crve Bank of Dallas to substitute or permit a withdrawal of the securities which it holds under Joint Safekeeping Hcreipt iesucd by it to the undersigned, in accordance with the terms of the resolution hereafter quoted, and to deliver the securities substituted for or withdrawn to the party named in such resolution. CITY OF BEAUMMjONT By '011" CLERK' Depositor. THE AMERICAN NATIONAL BANK OF BEAUMONT, TEXAS BY2 E Depository. RESOLUTION "Whereas, heretofore, under date of 10-1- C�9 ,10 =15-69 , and 10-23-69 19 the Federal Reserve Bank of Dallas issued to Cit of Beaumont City ,Depositor, and The American National. Bank of Beaumont, Texas Depository, its Joint Safekeeping Receipt or receipts covering certain securities; and "Whereas, both the Depositor and Depository now desire the Federal Reserve Bank of Dallas to permit a substitution of certain securities, or a with- drawal of securities, which it now holds, its hereinafter more fully set forth; and "Whereas. the securities, if any, hereinafter mentioned, which the above named pa tics desire to substitute in lieu of those heretofore placed in safe- keeping with the Federal Reserve Bank of Dalicu, meet with'the requirements of law and have been and are hereby approved; and "Whereas, the securities, if any, herei.:,fWr mentioned, which the above named parties wish to withdraw, are entitled under the law to be withdrawn; "Now, therefore, be it resolved: That. the Federal Reserve Bank of Dalias be and it is hereby requested and authorized to surrender the following securities heretofore placed with it for safekeeping by the above named parties, to-wit: RECEIPT NO., DESCRIPTION PAR VALUE H 7356 U. S. Tres. Notes 5% due 11-15-70 $ 700,000,00 H 7170 U. S. Tres. Notes 5% due 11-15-70 379,000.00 H 7403 U. S. Treasury Notes 5% due 11-15-70 300,000.00 Total 1,379,000.00 (Here describe securities to be substituted for or withdrawn. If above space is not sufficient, continue description on reverse side hereof.) and to receive in lieu thereof the following securities, which are hereby in all respects approved: Receipt # DESCRIPTION COUPONS PAR VALUE H 53048 U. S. Treasury Notes Series B-1977 7 3/4% due 8-15-77 $400,000.00 (Here describe securities to be taken in substitution or in the event this is a withdrawal without substitution write in the word "None." If above space is not sufficient, continue description on reverse side hereof.) "Be it further resolved: That the Federal Reserve Bank of Dallas be and it is hereby authorized to deliver the securities described herein to be substi- tuted for or withdrawn to American National Bank's Safekeeping Account or its order." This is to certify that the above and foregoing resolution was duly passed by City of Beaumont (Here insert name of Governing Body) at a meeting properly held on the day of October , 19 70 a quorum being present, all of which fully appears in the minutes of said meeting: i (SEAL)