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HomeMy WebLinkAboutRES 86 ZZ76 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: $300,000.00 U. S. Treasury Notes, 7.25% due 5-15-74 held under Receipt No. 134 584; 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 permitted to pledge the above described securities with Bank of the Southwest N.A. 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. PASSED by the City Council this the day of 197 / A.D. r - Mayor - it_ 6 ('5 g THE AMERICAN NAT'I0NAL BANK OF BEAUMONT THE AMERICAN CENTER BEAUMONT, TEXAS December 24, 1970 W. G. JOHNSON VICE PRESIDENT AND CASHIER Mr. Dean Ransom, Comptroller CITY OF BEAUMONT P. O. Box 3827 Beaumont, Texas '77704 Dear Mr. Ransom: We attach the properly executed forms to pledge an additional $ 2,079,000.00 to secure your Time and Demand Deposits. The above will have the net effect of increasing the total securities pledged to the City of Beaumont to a new total of $ 7,577,000.00. Will you please return the originals of the two (2) forms to us for forwarding to the appropriate banks. If we can be of any further assistance to you, please call upon us. Very truly y , 2V W. G. Johns , Vice Preside and Cashier nks Enc1: 2 Pledge Forms t' !r1 f. :0 To: From: Subject INTER -OFFICE MEMORANDUM CITY OF BEAUMONT, TEXAS Date JANUARY 6, 1971 Dr H WISOI-I, CITY CONTROLMM JAS. T. GAI'1VM, CITY CLERK Mi QIMST FOR SUBSTITUTION AIuD/OR WITHDRAI17AL OF SECURITICS COMMENT: Attached are two (2) Request for Substitution and/or With- drawal of Securities held by the Federal Reserve Bank of Dallas and the Bank of the Southwest, N. A. Houston, Texas Under Joint Safel.ceping Receipt forms which have been properly executed. City Council, in regular session held Tuesday, January 5, 1971, authorized pledge of securities. JTG: eine Attachments 2 Yours very truly, Jas. T. Garrard City Clark -REQUEST FOR SUBSTITL I AND/OR WITHDRAWAL OF SECURM HELD BY FEDERAL RZSERVE, BANK OF DALLAS UNDER JOINT SAFEKEEPIIV� ECEIPT +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 Beaumont, Texas Depositor. American National Bank of Beaumont, Texas By RESOLUTION W. G. Johnson, ice Pre sideRRol?ryCashier "Whereas, heretofore, under date of 1l —16 —7� 19 the Federal Reserve Bank of Dallas issued to None Depositor, and American National Bank -of Beaumonti Texah 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 above named 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 NONE (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 COUPONS PAR VALUE H - 53739 U. S. Treasury Notes, Ser. D-1974 7.2517a 1,779,000.00 due 5-15-74 (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 None or its order." This is to certify that the above and foregoing resolution was duly passed by City Of Beaumont, Texas � (Here insert name of Governing Body) at a meeting properly held on the J.1 day o J t 19 ' % a quorum being present, all of which fully appears in the minutes of said meeting. / (SEAL) SEC -19 Rev. 10-66 �I? rlu`cst for Subst.itutic, Zd/or withclrAoa cf fsccttritie, old ley BANK' OF SOUTIIAEST, N.A. H( _ -'TON, TEXAS under joint. Saf -eping receipt. The undersigned Depositor and Depository Jointly request the BANK OF TI -E SOU'I-I-IWEST N.A. HOUSTON, TEXAS to substitute or permit a withdrawal of the securities wliich it holds under Joint Safekeeping Receipt issued by it to the undersigned in accordance with the terms of the resolution hereunder quoted and to deliver the securities substituted for or withdrawn to the party named in such resolution. r. CITY OF BEAUMONT,.TEXAS Depositor AMERICAN NATIONAL BANK OF BEAUMONT, TEX Depository W. G. Johnson, Vic resident & Cashier RESOLUTION "Whereas, heretofore, under date of 11-16-70 the BANK OF THE SOUTHWEST, N.A. HOUSTON, TEXAS issued to American National Bank , 'Depository, in Joint Safekeeping Receipt or receipts covering certain securities; and Whereas, both the Depositor and Depository now desire the BANK OF THE SOUTHWEST, N.A., 14OUSTON, TEXAS to permit a substitution of certain securities, or a withdrawal c securities, which it now holds as h6reafter more fully set forth; and "Whereas, the securities, if any, hereinafter mentioned, which the above named parties desire to substitute in lieu of those heretofore placed in safekeeping with the BANK OF THF SOUTHWEEST, N.A. HOUSTON, TEXAS, meet with the requirements, of law and ht.ve been and are hereby approved; and "Whereas, the securities, if any, hereinafter mentioned, wizich the above named parties wish to withdraw, are entitled under the law to be withdrawn: "now, therefore, be it resolved: That the BANK -OF THE SOUTHWEST, N.A. 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, to -wit: RECEIPT NO. DESCRIPTION PAR VALUE NONE \ , and to receive in lieu thereof the following securities, which are hereby in all respects approved: DESCRIPTION PAR VALUE 134 584 U. S. Treasury Notes, 7.25 due, 5-1574 $ 300,000.00 "Be it further resolved: That the BANK OF SOUTHWEST, N.A. HOUSTON, TEXAS be and it is hereby authorized to deliver the securities described herein to be substituted for or withdrawn to NONE or its order. This is to certify that the above and foregoing resolution was duly passed by The CITY OF BEAUMONT, TEXAS at a meeting properly held on the _ day of , 19 the -undersigned Members, who constitute a quorum, preserri, all of ich fully appears in the Minutes of said meeting. SEAL being The 'members of the Governing Body whose signatures appear below were present at the meeting -referred to in the above .c.ertificate.