HomeMy WebLinkAboutRES 75 GGG7S ,,6(1.fh
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:
Receipt # Description
Value
59833
Austin, Tex. Elec. WW/SS Rev. 5.50%,
due 10-1-73
$200,000
60010
Pampa WW/SS Rev. 3.30%,
due 10-1-73
25,000
59838
Dallas, Tex. G/0 3.00%,
due 10-1-73
253000
59884
Dallas, Tex. Park Imp.
3.00%, due
10-1-73
25,000
TOTAL --------$275,000
WHEREAS, the American National Bank of Beaumont wishes
to pledge the following securities with the Federal Reserve Bank
of Dallas:
Par. Value
SK Receipt # Description of Securities of Securities
4127/4136 Sabine River Authority of Texas
& City of Beaumont Waste Disposal
Rev. Bonds 3.00%, due 11-1-73/82 $150,000
The total above securities being pledged being in the sum of
$150,000.00; 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 of the City of Beaumont,
Texas, this the day of 1973.
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