HomeMy WebLinkAboutRES 76 278RESOLUTION
WHEREAS, the City of: Beaumont and the American National Bank of
Beaumont, Texas, entered into a contract dated September 9, 1975, 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, Texas, wishes to
withdraw the following securities from the Federal Reserve Bank of Dallas,
Texas;
RECEIPT NO. DESCRIPTION PAR VALUE
HO 65141 U. S. Treas. 4.25% Bond Due 5-15-85 $ 500,000
and,
WHEREAS, the American National Bank of Beaumont wishes to withdraw
the following securities from the Texas Commerce Bank of Houston, Texas;
SK -RECEIPT NO. DESCRIPTION OF SECURITIES PAR VALUE
134 572 U. S. Treas. 4.25% Bonds Due 5-15-85 $ 1,300,000
The total securities being withdrawn from the Federal Reserve Bank of Dallas,
Texas, and frau the Texas Commerce'Bank of Houston, Texas, are in the amount
of $1,800,000; and,
WHEREAS, the American National Bank wishes to pledge the following
securities and/or U. S. Treasury Notes with the Texas Commerce Bank of
Houston, Texas:
RECEIPT NO.
DESCRIPTION OF SECURITIES
PAR VALUE
175
862
U. S.
Treas. 7.75% Notes, Due 11-15-81
$
11000,000
168
376
U. S.
Treas. 7.75% Notes, Due 11-15-81
600,000
160
787
U. S.
Treas. 7.75% Notes, Due 11-15-81,
150,000
SUB TOTAL
$
1,750,000
102
585
Univ.
of Houston Comb. Fee Rev. 7.00%
Due 8-1-87
50,000
TOTAL
$
1,800,000
. ..
WHEREAS, after this withdrawal, the American National Bank of
Beaumont, Texas, will have $34,490,000 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
and pledge the above-described securities, 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 and pledge.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the
day of 1976.
- Mayor -
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