HomeMy WebLinkAboutRES 105 ZZ/ 0,5 z z
A R E S 0 L U T I 0 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 $221,000 U. S. Treasury 3.875% Notes,
due 11-15-71 held under Receipt No. H-7173 and
$500,000 U. S. Treasury 3.875% Notes due 11-15-
71 held under Receipt No. H-7430 and wishes to
pledge in lieu of same $721,000 U. S. Treasury
5.875% Notes due 8-15-75; 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 se-
curities 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 9th day of February,
CITY OF ]BEAT MONT
BEATJMONT, TEXAS
February -9, 1971
JAS. T. GARRARD
CITY CLERK
R-
Mrs. No-rma K. Schott
Investment Department
The American.National Bank of Beaumont
Beaumont, Texas
Dear Mrs. Schott:
Attached are two certified copies of resolutions authorizing
withdrawal and pledge of securitiesas per the two enclosed agree-
ments.
Thank you for your attention in this matter.
Yours very truly,
Jas. T. Garrard
City Clerk
JTG:lt
ATTACHMENTS
INCORPORATED BY THE CONGRESS OF THE REPUBLIC OF TEXAS. DECEMBER 16. 1838
Thi American Notional Banf Beaumont / l
W. G. JOHNSON
VICE PRESIDENT AND CASHIER 1 G_
T-�'. 'SAh a,.,&
THE AMERICAN NATIONAL BANK OF BEAUMONT
THE AMERICAN CENTER
BEAUMONT, TEXAS
January 28, 1971
W. G. JOHNSON
SENIOR VICE PRESIDENT
AND CASHIER
Mr. James T. Garrard, City Clerk
CITY OF BEAUMONT
P. 0. Box 3827
Beaumont, Texas 77704
Dear Mr. Garrard:
During a recent exchange subscription offering by the U. S. Treasury,
we have taken the liberty to exchange $ 721,000.00 U. S. Treasury
3.875% Notes, due 11-15-71 for $ 721,000.00 U. S. Treasury 5.875%
Notes, due August 15, 1975.
In order that this amount of securities will remain in a pledged
status to the Time and Demand deposits of the City of Beaumont, it
will be necessary that the attached pledge forms be executed and
forward to the Federal Reserve Bank of Houston, Texas. The above
exchange will be effective on February'15, 1971 and if at all possi-
ble, we would like to have the forms forwarded to the Federal Reserve
Bank by that time.
We sincerely appreciate your assistance in this matter.
�Very truly rs,
C..CJ
W. G. Johns n
Senior Vice resident
and Cashier
nks
Encl:
1�.
REQUEST FOR SUBSTITUTION AND/I- WITHDRAWAL OF SECURITIES HELD — --FEDERAL RESERVE BANK
OF DALLAS UNDER .JOINT SAFEKEEPING RECEIPT
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 24
RESOLUTIONTT
' G. Johnson,. en or Vice PreYM• and
CjYshier
"Whereas, heretofore, under date of Oct . 14, 19--.69 the Federal Reserve Bank of Dallas issued to
Ci tv of B a imon , Texas , Depositor, and
American National Bank of Beaumont Texas Depository,
its Joint Safekeeping Receipt or receipts covering certain securities; and
drawa;"Whereas, both the Depositor and Depository now desire the Federal Reserve Bank of Dallas to permit a substitution of certain securities, or a with -
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
H-7173 U. S. Treasury 3.875% Notes, due 11-15-71 $ 221,000
H-7430 U. S. Treasury 3.875% Notes, due 11-15-71 500,000
(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
U. S. Treasury 5.875% Notes 5.875% $ 721,000
due 8-15-75
(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•
toted 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 ri f-•37- of Raab cO �Tpxaq ,
(Here insert name of Governing Body)
at a meeting properly held on the—dayf February
appears in the minutes of said meeting. o y , 19-1-1—a quorum being present, all of which fully
Secretary or erk.
BEC -19 Rev. 10-66 0