HomeMy WebLinkAboutRES 73 ZZ73 z z
A. R E S O L U T I O 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 wishes to
pledge the following securities: $50,000.00
San Antonio Sewer Sys. Rev. 4.50% due 12-1-84
held under Receipt No. 95290; and $90,000.00
Denton, Tex. Elec. Rev. 6.50% due 11-1-82 held
under Receipt No. 95291; and $50,000.00 Tyler,
Tex. G/0 4.60% due 11-1-81 held under Receipt
No. 95293; 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, Texas, be per-
mitted to pledge the above described securities with Texas
Commerce Bank of Houston, Texas, and a certified copy of
this Resolution shall constitute evidence of the authority
of the American National Bank of Beaumont, Texas, to make
said pledge.
1970.
PASSED by the City Council this the 15th day of December,
i
IMAYOR.-.
,EAUM0NT.. ;
CITY, QEF'; �'
;BEAU ONT,' -TEXA
'Dea'gm'be'r 16"; 1970, ;
JAS.. T.. GARRARD'
,
' r,.7 CLERK
'
Mrs. Joe . Parsley .
Investment '"Department -. . `.
American National Bank''
P. 0. Box 2751
Beaumont, Texas 7770 '
'
Dear Mrs. Parsley:
Attached'are'six`.(6)':Request•for Substitution and/or'
Withdrawal. of Securities held by the Texas Commerce
Bank of Houston, Federal Reserve Bank of Dallas,,and the.,
Bank of the Southwest N.A. Houston, Texas Under. Joint
'S,afekeepingj Receipt forms ,which have: been properly',''
executed -as requested, -by you:
City'Council, In regular session held Tuesday,
December 15-; ,,1970, authorized withdrawal and pledge ,, of
securities.
"
Yours ,'ve'ry truly, r ,1
Jas, T. Garrard '
City Clerk
„ '•'
JTG:eme
Attachments =1
INTER -OFFICE MEMORANDUM
CITY OF BEAUMONT, TEXAS
Date DECEZIDD 16, '1970
To DEAN RAItISM-T, CITY CONTROLLER
From: JAS. T. GARRARD, CITY CLERK
Subject: REQUEST FOR SUBSTITUTION AIM/OR WITHDRAWAL OF SECURITIES
COMMENT:
Attached are three (3) Request for Substitution and or Withdrawal
of Securities held by the Texas Conmerce.Ban.1 of Houston,, Federal Reserve
Bank of Dallas and the Bank of the Southwest N. A. Houston, Texas Under
Joint Safekeeping Receipt forms which have been properly executed.,
City Council, in regular sessiz)n held Tuosday, December 15, 1970,
authorized withdrawal and pledge of securities.
Yours very truly,
Jas. T. Garrard
City Clerk
JTG:eme
Attachments
REQUEST .FOR SUBSTITUTION kl.OR WITHDRAWAL OF SECURITIES HELD BY
Houston; Texas TEXAS COMMERCANK 0
UNDER JOINT SAFEKEEPING RECEIPT
The undersigned Depositor and Depository Jointly request the Texas Commerce Bank of
Houston, Tex. to substitute or permit a withdravral of the securities which it holds
under Joint Safekeeping Poceipt issued by it to the undersigned in occordance with
the terms of the resolution hereunder
:quoted and to deliver the decurities.substituted
for or withdrawn to the party named in such resolution®
-: City of Beaumont of Beaumont, Texas
-- . D p &
e o itor .
American National Bank of Beaumont Texas '
_
BYs
pository
- W.' G. Johnson, ce'Pre sident & Cashier
RESOLUTION.1
wIlhereas, heretofore, under date of 12-2-70 the Texas Commerce tank of
Houston; Texas issued to -American National Bank , Depository, in Joint
Safe:ceeping nCCeipt or receipts covering certain securities; and
IMbereas, both the Depositor and Depository now desire the Texas Comm e-e Bal
to permit a substitution of certain securities, or a withdrawal of
-securities, which it now holds as hereafter more fully set forth; and
- "^nuereas, the securities, if any,, hereinafter mentioned, which the above named parties
desire to substitute in lieu of those heretofore placed in safekeeping with the
Texas Commerce Bank MET WITH THE REQUIREMENTS OF LAW AND HAVI; BEEN
and are�,hereby approved; and '
'ri7hereas, the securities, if any, hereinafter mentioned, which the''above named-parties
wish to;vithdraw, are entitled under the law to be withdrawn:
"'Now, therefore,,' be it resolved: .That the. Texas Commerce Bank of Houston Texas
be and it is hereby requested and authorized to surrender the following securities
heretofore placed with it for safekeeping by'the above_ named parties, AD-Wit:
RECEIPT NO. DESCRIPTION PAR VALUE .`
NONE
and to.receive in lieu thereof the following securitios, which sre hereby in .all
respects approved:
DESCRIPTION
PAR VALUE
# 95290 San Antonio-Sewer Sys. Rev.4.50;; due 12-1-84 $ 50;O0Q.00
95291: Denton, Tex. Elec. Rev. 6.50; due 11-1-82 90,000:00
# 95?93, Tyle-r, Tex. G/0 4.6o %; due 11-1,81 50,000.00
"Be it.,further resolved: That the Texas Commerce Bank of Houston, Texas be and it is
hereby. aiithorized to deliver the securities described herein to be substituted for or
withdra4rn to None or its order.
This is to certify that the aboveand foregoing resolution was duly passed by The
City of Beaumont, Texas , at a. meeting properly held on the
day of December 119 70 , the undersigned Members; rho,eonstitute a quorum, being
present, all of which fully appears in - the Iiinutes of said meetings,
Clerk
SEAL
The members of the Governing Body-whose signatures appear below"'were present at the
meeting referred. to in the above certificated -