HomeMy WebLinkAboutRES 30 FFFKEWJr/im/4/10/73 S
JD
A R E S 0 L U T I 0 N
V.
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 of Beaumont wishes to
withdraw the following securities from the Federal Reserve Bank of
Dallas:
$ 250,000 F.N.M.A. 6.75% due 6-12-73, held under Receipt
No. 59972
35,000 Harris Cnty Nay. Dist. 3.90% due 5-1-73', held
under Receipt No. 59950
25,000 Mainland Jr. Col. (Gale.) 4.40% due 5-1-73,
held under Receipt No. 59951
25,000 Beaumont Strt. Impr. 3.25% due 5-15-73, held under
Receipt No. 59954
The total above securities being withdrawn being in the sum of
$335,000; and,
WHEREAS, the American'National Bank of Beaumont wishes to
pledge the following securities with the Federal Reserve Bank of
Dallas:
$ 325,000
Harris
Cnty
F.C.D.
4.25%
due
4-1-77
1253000
Harris
Cnty
F.C.D.
4.25%
due
4-1-78
325,000
Harris
Cnty
F.C.D.
4.25%
due
4-1-79
6503P000 San Antonio Wtr. Rev. 5.10% due 5-1-93
The total above securities being pledged being in the sum of
$1,425,000; and,
WHEREAS, the American National Bank of Beaumont wishes to
withdraw the following securities from the Texas Commerce Bank of
Houston, Texas:
$ 100,000 U. S. Treas. 8.00% Notes due 2-15-77, held
under Receipt No. 119 071
400,000 U. S. Treas. 7.00% Notes due 11-15-75, held
under Receipt No. (part of) 119 440
The total above securities being withdrawn being in the sum of
$500,000; and,
WHEREAS, after said withdrawals and pledge, 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 the Texas Commerce Bank of
Houston, Texas, 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 withdrawals and
pledge.
1973.
PASSED by the City Council this the 1"I day of April,
— Mayor -