HomeMy WebLinkAboutRES 3 CCCKEWJr/im/2/9/72
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A RES OLUTION
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 wishes to
withdraw $200,000 U. S. Treasury 7.50% Notes,
due 2-15-72 held under Receipt No. H-9886 and
wishes to pledge in lieu of same $200,000 U. S.
Treasury 5.75% Notes due 5-15-76; 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 securities
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 with-
drawal and pledge.
PASSED by the City Council this the day of
1972.
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Mayor -