HomeMy WebLinkAboutRES 24 DDDKEWJr/im/7/2 72
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 wishes to with-
draw the following security from the Republic National
Bank of Dallas:
$ 250,000 San Marcos Tex. Proj. Notes 3.07%, due
8-4-72, held under Receipt #872194
The total above security being withdrawn being in the sum
of $250,000; and,
WHEREAS, the American National Bank wishes to with-
draw the following securities from the Texas Commerce Bank
of Houston, Texas:
$ 50,000 Corpus Christi Hsg. Auth. 3.375%, due
8-1-72, held under Receipt #103725
$ 165,000 Grand Prairie ISD 7.30%, due 8-28-72,
held under Receipt #104370
The total above securities being withdrawn being in the sum
of $215.,000; and,
WHEREAS; the American National Bank wishes to pledge
the following securities with the Texas Commerce Bank of
Houston, Texas:
$ 45,000 Bellaire G/0 3.80%, due 8-1-75, held under
Receipt #99560
$ 25,000 Bryan ISD U/T 8.00%, due 5-1-79, held under
Receipt #90408
$ 25,000 Spring Branch ISD 5.00%, due 6-1-79, held
under Receipt #70848
$ 25,000 Dallas ISD U/T 4.20%, due 7-1-79, held under
Rec ein t �M204
$ 30,000 Atlanta ISD 4.50Q/, due 2-1-8.0, held under
Receipt #74344
$ 25,000 Brazosport :1CD 5.00%, due 2-1-80, held
under Receipt #79017
$ 25,.000 Lubbock G/0 4.20%, due 4-15-80, held
under Receipt #69177
$ 25,000
Ft. Worth Gen, Purp. 4.00%, due 5-1-80,
held under Receipt #69435
$ 35,000
Col. of Mainland SCD 4.40%, due 5-1-80,
held under Receipt #101042
$ 35,000
Tex. Vet. Land 10.00%, due 6-1-80, held
under Receipt #101440
$ 25,000
Burleson CISD 5.50%, due 10-1-80, held
under Receipt #99696
$ 35,000
Burleson CISD 5.50%, due 10-1-81, held
under Receipt #99697
$ 30,000
Houston ISD 3.40%, due 4-10-82, held
under Receipt #99698
$ 25,000
San Antonio ISD'4.95%, due 7-15-82, held
under Receipt #97074
$ 40,000
Midland Impr. 4.50%, due 1-1783/81, held
under Receipt #97086
$ 25,000
Amarillo G/O'405%, due 8-1-83/76, held
under Receipt M432
i
The total above securities being pledged being in the sum
of $475,000; and,
WHEREAS, after this withdrawal and pledge of additional
securities, 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 Republic National Bank of Dallas and the Texas Commerce
Bank of Houston, Texas, and to pledge the above described
securities with the Texas Commerce Bank of 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 withdrawal and pledge.
PASSED by the City Council this the,.�S�,-day of
1972.
- Mayor -