HomeMy WebLinkAboutRES 74 2422-
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 with-
draw the following securities from the Federal Reserve Bank of Dallas:
SK RECEIPT # DESCRIPTION OF SECURITIES PAR VALUE
# 134 029 U. S. Treas. Bills, due 7-25-74 $2,000,000
# 134 569 U. S. Treas. Bills, due 7-25-74 900,000
TOTAL ----------$2,900,000
WHEREAS, the American National.Bank of Beaumont wishes to pledge
the following securities with the Texas Commerce Bank of Beaumont:
DESCRIPTION OF SECURITIES
New York, N. Y. Proj. Notes, 5.24%,due 7-25-75
PAR VALUE
$1,000,000
The total above securities being pledged being in the sum of $1,000,000;
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 Texas Commerce Bank of
Beaumont, and a certified copy of this Resolution shall constitute evi-
dence of the authority of the American National Bank of Beaumont, Texas,
to make said withdrawal.
day
PASSED BY THE CITY COUNCIL this_ of , 1974.