HomeMy WebLinkAboutRES 75 690•
R- ri.�E-�q.
R E S 0 L 'U 'T' 'I '0 N
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,
Texas :
RECEIPT NO.
DESCRIPTION
PAR VALUE
HO 59892
Garland, Tex. Elec. Water
& Sewer Rev.,
5.00% due 3-1-75
$ 25,000
HO 59924
Dallas, Tex. WW & SS Rev.
Bonds, 4.70%
due 3-1-75
$ 50,000
HO 60018
Pampa, Tex. Sewer Sys. &
Ext. Tax, 3.00%
due 3-1-75
. $' '2'5')'000
TOTAL ------$100,000
and,
WHEREAS, the American National Bank of Beaumont wishes to with-
draw the following securities from the Republic National Bank of Dallas,
Texas :
RECEIPT NO. 'DESCRI'PTI'ON PAR VALUE
SK 822 711 Lubbock, Tex. G/0, 3.40% due 3-15-75 $ 40',000
TOTAL ------ $ 40,000
The total above securities being withdrawn from the Federal Reserve Bank
of Dallas, Texas, and from the Republic National Bank of Dallas, Texas,
is in the amount of $140,000; 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 with-
draw the above described securities from the Federal Reserve Bank of
Dallas, Texas, and from the Republic National Bank of Dallas, Texas, 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
cq" day of ......... 9 1975.