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HomeMy WebLinkAboutRES 48 DDDKEWJr/gh/8/11/7 171f ,v 'b b 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. L