HomeMy WebLinkAboutRES 46 GGGq6 ggg
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,
1973, 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:
SK Receipt # Description Value
125 294 U. S. Treas. 4.125% Bonds
due 11-15-73 $ 770,000.00
TOTAL--------$ 7705000.00
WHEREAS, the American National Bank of Beaumont wishes
to pledge the following securities with the Federal Reserve Bank
of Dallas:
Description
Victoria County Jr. Col. District
5.00 % due 1974
5.00 % due 1975/79
4.50 % due 1980/83
4.60 % due 1984/85
4.70 % due 1986/88
TOTAL -----
Lubbock Electric Power Rev.
6.50 % due 1974/76
4.35 % due 1977
4.40 % due 1978
4.45 % due 1979
4.50 % due 1980
4.55 % due 1981
4.60 %.due 1982
4.65 % due 1983
4.70 % due 1984
4.75 7 due 1985
Value
—
$ 20,000
125,000
100,000
50,000
75,000
$370,000
$ 75,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
25,000
Description -(continued) Value
4.85
%
due
1987
$ 25,000
4.90
%
due
1988/89
50,00.0
4.95
%
due
1990
25,000
5.00
%
due
1991/93
755000
TOTAL ------ $500,000
The total above securities being pledged being in the sum of
$870,000.00; and,
WHEREAS, after this withdrawal, the American National
Bank of Beaumont will have sufficient securities 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 above.described securities from 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.
PASSED by the City Council this the day of
1973.
Maydr -