HomeMy WebLinkAboutRES 74 89'74-
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 contractdated July.l, 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 Dep-ository; and,.
WHEREAS, the American National Bank -of Beaumont wishes t.o
withdraw.the following securities from the Federal.Reser.ve'Bank of
Dallas
Receipt No. Description Par Value
'HO 59858 Texas Tech Univ. Gen. Tui.t. Rev:. 6.50%,
due A-1-7-4 $195;000
'HO 60-011, Lamar St. Col.. of Tech.: Stud. Hsg..;
3-3/8%.,due;'4=1-74 15,000
HO 63042 City'of. Lubbock Elec: L.ght. $_Power.
Rev.. 6'.'50'-, due 4-15"'74 "25,0"00 '
TOTAL -----.---$235,000
WHEREAS, after this,withdrawal, the American National Bank
of. Beaumont, will have.su.fficient.securit-ies.p.ledged 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.de,scribed'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 this .the
day o f . `�� \[1.C° �ZJ�, 1974,