HomeMy WebLinkAboutRES 2 AAAAt
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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
pledge the following securities: $900,000.00
U.S. Treasury Notes, 8.00%, due 5-15-71 held
under Receipt part of #H 53903 and.H 53706; 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 the Federal Re-
serve 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 pledge.
1971.
PASSED by the City Council this the 16th day of February,
Mayor -
6
RECEIVED
THE AMERICAN NATIONAL BANS OF LEANT
32
THE AMERICAN CENTER
BEAUMONT, TEXAS 0 ` n c
G!TY ;r i. 1U K
February 5, 1971
W. G. JOHNSON
SENIOR VICE PRESIDENT
AND CASHIER
Mr. James T. Garrard, City Clerk
CITY OF BEAUMONT
P. O. Box 3827
Beaumont, Texas, 77704
Dear Mr. Garrard:
We attach the necessary forms to pledge an additional $900, 000. 00
in securities to the time and demand deposits of the City of Beau-
mont. This will have the net effect of making the total amount of
securities pledge to the City of Beaumont $ 9, 077, 000. 00. At the
present time, this should be adequate to cover the time and demand
deposits of the City.
When the attached forms have been executed, please return the
original and one copy to us, in order that it may be forwarded to
the Federal Reserve Bank to confirm the pledging of these addi-
tional securities.
Thank you for your assistance in this matter. We sincerely appre-
ciate your deposits.
Very truly yo
W. G. Johnso
Senior Vice President
and Cashier
nks
Encl:
pt e—wrv, f. ,
REQUEST FOR SUBSTITUTION AND/OR WITHDRAWAL, OF.SECURITIES HELD BY FEDERAL RESERVE BANK
OF 1, %S UNDER JOINT SAFEKEEPING RECE 6 — -�
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
1
By!tip 7-
Depositor.
American National_Bank of Beaumont Texas
' 21.By
• Depository.
RESOLUTION
"Whereas, heretofore, under date of 11-18-70 & 12 — 21 — 7 0 19 the Federal Reserve Bank of Dallas issued to
None 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 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
nd-__,z_____"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:
Part of # H 53903 DESCRIPTION COUPONS PAR VALUE
& H 53706 U. S. Treas. Notes, due 5-15-71 8. 00% $900,000.00
(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 of Beaumont, Texas 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 I day of February 1971 , a quorum being present, all of which fully
appears in the minutes of said meeting.
CITY CLERK
(SEAL)
SEC -19 Rev. 10-66
INTER -OFFICE MEMORANDUM
CITY OF BEAUMONT, TEXAS
nntp 17., 1971
To: DrLN I a S 0y i, CITL 002KIVROLLPHR,
From: JAS, T. GA1?!'LA_RD,, CITY CLL ,,K
Subject: 'REQIrEST FOR SUBS TITUIP IUZ _uTD/m wiamrawn or, 31",,cupaTIES
COMMENT:
At tach(,,0. is a Rcquost f( -r Substitution and/or Withdrawal of
S-curitios hold by the Fodoral Reserve Rank of Dallas Under Joint
for;,'is -�,fhich have been Pro-r.,�.,rly execrated as
L-1 -
roqunstol-" T)y I'Cu.
City C�=c;i-'.. in rogdlar session hold Tuesday, February 16,
�97' , auth,.,,,'i,_,(!. of s:-,curitios.
Yours very truly.
Jas. T. G�raz-d
Cl""oy Clork
J'TG-. cob
Attachnrmt