HomeMy WebLinkAboutRES 48 DDDKEWJr/gh/8/11/7
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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 $578,000.00 U. S. Treas. 5.00% Notes,
Series E - 1972 held under Receipt No. 10309
and wishes to pledge in lieu of same $578,000.00
U. S. Treas. 5 7/8% Notes, Series F - 1976; 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 per-
mitted to withdraw the securities above described from the
Federal Reserve Bank of Dallas, and to pledge the above des-
cribed 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 withdrawal and pledge.
PASSED by the City Council this the day of
a,� Q U.S-` 1972.
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