HomeMy WebLinkAboutRES 74 212'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, where-
by 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 with-
draw the following securities from the Federal Reserve Bank of Dallas:
Receipt No. Description Par Value
HO 63027 Victoria Co.' Jr. Col. G/O 5.00%,
due 7-1-74 $20,000
HO 60020 City of Bryan Util. Rev. 3.00%,
due 7-1-74 $'15,000
TOTAL -------$35,000
WHEREAS, the American National Bank o -f Beaumont wishes to with-
draw the following securities. from the Texas Commerce Bank of Houston:
SK Receipt # Des'crippti'on Par Value
133 326 Peoria, Ill. 4.53% Proj. Notes,
due 7-12-74 $`1, 0'0'0','0'0 0
TOTAL -------$1,000,000
WHEREAS, the total amount of released securities is in the
amount of $1,035,000; 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 securitiesfrom the Federal Reserve tank
of Dallas and the Texas Commerce Bank of Houston, 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 of ' 1974.
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