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Home My WebLink AboutRES 74 ZZ7y 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 withdraw the following securities: $478,000.00 U. S. Treasury Notes, Series E-1971 @ 8.0% held under Receipt No. H 7664; and, WHEREAS, after this withdrawal, the American National Bank 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 above described securities from 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. 1970. PASSED BY the City Council this the 15th day of December, ! " , 61'.dK A- 5.% - ) A If o — qqqq J 0 I ` ✓�L1 �. I ' . l ��1 ' 'I 1 I h;1. 1 4. .� :� ,, 1 ',i,.' i. s .. I } I ' I a 4 r1 f.. , ,`I I..I r I f .1� 1 <. ' I I .t r. 1 If E.AU lVo ®�9 ' :FEXAS ' 4 , ) I f 1.i I , a December ] 6 1970i ''' JAS: T GARRARD - y{ I 11. , I + " ,! I f 1 :, ! ' 1 I '6,' ', 1{ :GI'jY�t CLERK ` , : i, ! i ; 1'.-. 11 Y,t �I i �It C .1 I 1" {I R .t Ga ;I 'i"1 ! , i fi J 'I r eh r , G - , , ,. - , ), 1!1 p .!I t' I Ir'; ,� t r J.,' 1'I 1 F.,: �, 1; 1. ,.. , , I. I� It .. �_ , , , I1 , II, 1 j, "I1 , V{ YZI{ .' . � 1 :. 1 {. f l I I I f f. -Ill 7 _ W ,1„ r 1 Y' f , 11 1 a f r 1 1 ''i i„, e C t�� I r 1'��I ;,l FI ,1 f , ) I. I . , i. ' '•'' I f' 1 fh - t I t 4 ,,l�t f I I g .: I i '' 'I I 1 ;I , I tr x- 1)E I I' j. ,, { I,� :i�, 1 i .' ,r` 1. 1 I ( ' Il „ i ;� ,ji, , I �� 1 ,., +. Ii. , ) I .. J I' 1 I I1 -I } �'��,, i III , Y ,I�' '{ -., , , ,. I t 1 4, • , ,,,1 ,'1 .4f l� 1. ,. I �1 t 1. , i t� I I Y �, �.) . , I 1 ' I , n ” 4",, , I .' I I r , .. I ,, ..�� 7,, 1I 1 J I ' I� , I .1 } I ' I f ; ' j,i , < l ' � , I �' I 1 ' I, I 1,i I j, V J_ 1. I- . I i . I ..I I �If ; I I, f f; f 1 '' I •'S i,I. ;I Mrs. Joe Parsley;) , , ) '� , f I ,II , 33 ;Inv, , nt:.Department:, ; , rl 1 American National Bank1 „I ;I , P.': 0. Box .2,751. . Beaumont; Texas 7770111 II .�L :I, I i, hi. 1 , , f� '•�- ' 77 ,' Dear'Mrs. Parsley i ( _ I , I I' 1 _ I1�1 Attached are Iszx. (6) (Re1.quest for Substitution and�or= , i Withdrawal.,,of. Securities'; held by th&-,Texas Commerce''' ,1., `I'ijti , Bank. of Houston,' Federal; Reserve Bank of Dallas, a, d.. e 1, I' 'i i, Bank. of the,' Southwest 1� A.', Houston, ,Under (Joint , ,; I:' f If. .;Texas Safekeeping''. Receipt'%orms .which have. been: properly , executed a's. requested by you I ,• , t 1 pity CounI.cil,' in regular session 'held TueSday� ,t - December" 1. 19'70, authorized ,withdrawal:: and ,pledge ' "' 'Y� 1,1, { I.;of 1 1i ,`se iti�.r.s. " f Y Ir Vul ;I.jL% ,, , Yours very truly, .I L, '-f. 1t, r f) 1 . I Y'' l` r{ I I J :. y. {l. t 1�f 1 � `f .A �-rel y� 4 I G, iy t. l r _ e !. '� k ( cC I. 1,, . , I �. . i Jas ` T e :Garrard I 'I 1` 1 City Clerk , Attachment"s:. �' ' , l � , r �� ;y. '..1 b I i', IvS I* ;, ' 1i,r I ., 'FI 1. ' 1' I , , 1' %.. ...� ...E II I f 4 ? I. ' I ..1 1 1 f Vi '' 1 1.- } t , - 1 j.; f l 1 f --- iV - ) f4' , 1. t - { I. t I ,I I JI I:I, ��I I 1 r, 1 e 111 1' II 4-1 l' r . I ) r 7 s { } i INC RPORATED; pY THE'CONGRESS FISN� �iEP.L76LIC, OF 7 UAS DECEA{R6F$ 4Q I �i'38 { 1 {,° � 9.REG�4JE'Si FOR SUBSTITUTION D/OR WITHDRAWAL OF SECURITIES "c'.D BY FEDERAL RESEERVE,BRaNK I,- ALLAS UNDER Jfi"aN I. SAFEKEEPING RI PT - -- 5 —/- 1`7 D The undersigned Depositor and Depository jointly request the Federal Reserve Bank of Dallas to substitute or permit a withdrawal of the securities which it holds under Joint Safekeeping Receipt issued 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 REATIMONT r ^ ` Depositor. AMERICAN NATIONAL BANK OF BEAUMONT, TEXAS By 2 RESOLUTION W. G. Joh o , Vice Presby& �7n Cashier "Whereas, 'heretofore, under date of January 194 191, the Federal Reserve Bank of Dallas issued to City of Beaumont: Beaumont, Texas Depositor, and 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, as hereinafter more fully set forth; and "Whereas, the securities, if any, hereinafter mentioned, which the abovenamed parties desire to substitute in lieu of those heretofore placed in safe- keeping with the Federal Reserve Bank of Dallas, meet with the requirements of law and have been and are hereby approved; and "Whereas, the securities, if any, hereinafter 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 Dallas 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 7664 U. S.•Treasury Notes, Series E-1971 @ 8.O�9 $ 478,000.00 f (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: DESCRIPTION NONE U COUPONS PAR VALUE (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 of Beaumont, Texas or its order." This is to certify that the above and foregoing resolution was duly passed by City of Beaumont, Beaumont, Texas . (Here insert name of Governing Body) at a meeting properly held on the day of December 19 70 , a quorum being present, all of which fully appears in the minutes of said meeting. Cle . (SEAL) _ MY CLEW" SEC -19 Rev. 10-66 THE AMERICAN NATIONAL BANK OF BEAUMONT THE AMERICAN CENTER BEAUMONT, TEXAS December 9, 1970 W. G. JOHNSON VICE PRESIDENT AND CASHIER Mr. Dean Ransom, Comptroller CITY OF BEAUMONT P. 0. Box 3827 Beaumont, Texas 77704 Dear Mr. Ransom: We attach the properly executed forms to release certain securities, pre- sently pledged to the City of Beaumont, which mature within the next two (2) years. Also enclosed are the necessary forms to re -pledge certain other longer term securities. The above will have the net effect of reducing the total amount of sec- urities pledged to the City of Beaumont by $ 3,000.00, for a new total of $ 5,498,000.00. As we discussed on Friday, December 4, 19'j0, the de- mand deposit and time deposits of the City will increase after the first of the year and we have selected certain securities to be used to increase the total amount of securities pledged to the City of Beaumont at that time. - If it is at all possible, it would be a great deal of assistance to us if the present releasing and re -pledging could be accomplished before the end of the year. Please let us. know if we can be of any assistance to you. We wish to take this opportunity to thank you for your assistance in this matter. Very trul ours W. G. Joh s n Vice Presi ent and Cashier nks Encl; o, . r' r 4;