HomeMy WebLinkAboutRES 74 397R: 'E' 'S' '0 1' 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 Branch in
Houston, Texas:
RECEIPT NO.
DESCRIPTION
PAR VALUE
8637
U.S.
Treas.
5
7/8%"
Notes,
due
8-15-75
$ 721,000
10804
U.S.
Treas.
5
7.8%
Notes,
due
2-15-76
578,000
64813
U.S.
Treas.
5
7/8%
Notes,
due
2-15-76
1,600,000
10305
U.S.
Treas.
5
3/4%
Notes,
due
5-15-76
200,000
TOTAL -----------------$3,099,000
WHEREAS, The American National Bank of Beaumont wishes to pledge
the following project notes with the Texas Commerce Bank of Houston:
DESCRIPTION OF SECURITIES
PAR VALUE
Newark, New Jersey Project Notes
5.23% due 5-16-75 $3,000,000
The total above project notes being pledged in the sum of $3,000,000;
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 Federal Reserve Bank
Branch in Houston, Texas, anda 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 THECITY COUNCIL of the City of Beaumont this the
.91-26� day o f _.L./,"K �C(�/�° . ; ..... , 1974.
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