HomeMy WebLinkAboutRES 122 BBBLLJ/im/l/28/72
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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, 1971, 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 of Beaumont
wishes.to pledge the following additional
securities: $578,000 U. S. Treasury Notes,
5.00%, due 8-15-72 held under.Receipt No. H-56976;
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 be permitted to pledge
the additional above described securities with the Federal Reserve
Bank of Dallas, and a certified copy of this resolution shall con-
stitute evidence of the authority of the American National Bank of
Beaumont, Texas, to make said additional pledge.
PASSED by the City Council this the 57 day of,
1972.
- Mayor -