HomeMy WebLinkAboutRES 74 43yl_
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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
withdraw the following securities from the Federal Reserve Bank of
Dallas:
SK RECEIPT # _DESCRIPTION OF SECURITIES PAR VALUE
127 834 San Carlos, Arizona Proj.
Notes 5.16% due: 2-8-74. $ 1,600,000
WHEREAS, the American National Bank of Beaumont wishes to
pledge the following securities with the Federal Reserve Bank of
Dallas:
Description Par Value
U. S. Treasury 5.875% Notes, due 2-15-76 $ 1,600,000
The total above securities being pledged being in the sum of
$1,500,000; 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 con-
stitute evidence of the authority of the American National Bank of
Beaumont, Texas, to make said withdrawal.
PASSED BY THE CITY COUNCIL this' day of ,, 1974.