HomeMy WebLinkAboutRES 74 11/ -7�x- /r
R E S 0 L U T I' '0' 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 pledge the following securities with the Federal Reserve Bank
of Dallas:
Description Rar Value
U. S. Treasury 74% Notes, due 5-15-74 $19145,000
The total above securities being pledged being in the sum of
$1,145,000; and,
WHEREAS, after this pledge, 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 pledge the above described securities from the Federal Reserve
Bank of Dallas, and a certified copy of this Resolution shall con-
stitute evidence of the authority of the Amer.i.can National Bank
of Beaumont, Texas, to pledge said securities.
PASSED BY THE CITY COUNCIL of the City of Beaumont, Texas,
this the P�h day o , 1974.