HomeMy WebLinkAboutRES 10 EEEKEWJr/gh/11/27/;
A RE SOLUTION
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 tank wishes to withdraw
the following securities from the Texas Commerce Bank of Houston,
Texas:
$ 25,000 Hurst -Euless -Bedford ISD U/T.5.00`/o due 11-1-75
held under Receipt No. 74451
$ 50,000 Longview ISD 3.25% due 5-1-76 held under
Receipt No. 100560
$ 50,000 Houston, Tex. G/0 6.00% due 11-1-77 held under
Receipt No. 96433
$ 25,000 St. of Tex. G/0 Vet. Land 3.50% due 6-1778 held
under Receipt No. 67512
$ 25,000 Baytown G/0 4.25% due 2-15-78 held under Receipt
No. 73454
$ 25,000 Alief ISD U/T 4.00% due 3-1-79 held under Receipt
No. 73688
$ 25,000 Dallas G/0 6.00% due 4-1-79.held under Receipt
No. 90293
$ 25,000 Harris Cnty Ship Channel Nay. Dist. Rev. 4.00%
due 5-1-79 held under Receipt No. 73900
The total above securities being withdrawn being in the sum of
$250,000; and,
WHEREAS, the American National Bank wishes to withdraw
the following securities from the Bank of the Southwest of
Houston, Texas:
$ 25,000
$ 25,000
$ 26,000
$ 25,000
$ 25,000
$ 25,000
$ 35,000
$ 25,000
$ 25,000
L - F
El Paso ISD 3.50% due 5-1-75 held under Receipt
No. 163408
Amarillo, JCD 3.60% due 5-1-76 held under Receipt
No. 163409
Bryan, ISD 3.90% due 12-1-76 held under Receipt
No. 163411
Dallas ISD 3.75% due 7-1-77 held under Receipt
No. 163412
Lubbock G/O 3.00% due 3-15-77 held under Receipt
No. 163413
Houston ISD 3.20% due 8-10-78 held under Receipt
No. 163414
Tex. Tech Gen. Tuit. Fee Rev. 6.50% due 4-1-80
held under Receipt No. 163415
Spring Branch ISD 5.50% due 2-1-84 held under
Receipt No. 163416
Plainview ISD 3.25% due 11-15-84 held under
Receipt No. 163439
The total above securities being withdrawn being in the sum of
$.436,000; and,
WHEREAS, the American National Bank wishes to pledge
the following securities with the Texas Commerce Bank of Houston,
Texas:
$750,000 U. S. Treasury Bills 4.79% due 2-22-73
The total above securities being pledged being in the sum of
$750,000; 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:
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to withdraw the securities above described from the Texas
Commerce Bank of Houston, Texas and the Bank of the Southwest
of Houston, Texas, and to pledge the above described securities
with the Texas Commerce Bank'of Houston, Texas, and a cer-
tified 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
December, 1972.
Mayor -