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HomeMy WebLinkAboutResolution 1044TUESDAY, FEBRUARY 26, 1985 Adopted Resolution No 1044 releasing securities pledged by MBank FW to secure City Deposits Resolution No 1044 WHEREAS, present JTPA programs in Tarrant County could be administered more effectively and efficiently under a unified directorship; and, WHEREAS, the Fort Worth Private Industry council has voted unanimously to enter into negotiations with Tarrant County to merge the two programs, and, WHEREAS, Tarrant County staff and Private Industry Council have expressed a desire and willingness to explore a merger of the programs, and, WHEREAS, a merger could result in additional program funds NOW, THEREFORE, BE IT RESOLVED, that the Mayor and City Council support the efforts of City staff and the Private Industry Council to negotiate a merger of the JTPA Programs presently administered by the City of Fort Worth and Tarrant County Mayor Pro tempore Stute introduced a resolution and made a motion that it be adopted The motion was seconded by Council Member Johnson The resolution was read by the City Secretary The motion, carrying with it the adoption of said resolution, prevailed by the following vote AYES Mayor Bolen; Mayor Pro tempore Stute, Council Members Zapata, Johnson, Lancaster, Williams, Wetherby, Newkirk, and Bagsby NOES None ABSENT None The resolution, as adopted, is as follows RESOLUTION NO 1044 'Whereas, heretofore, under date of December 7, 1984, the Federal Reserve Bank of Dallas issued to City of Fort Worth, Depositor, and MBank Fort Worth N.A , Depository, its Joint Safekeeping Receipt or Advice of Deposit or receipts covering certain securities, and 'Whereas, both the Depositor and Depository now desire the Federal Reserve Bank of Dallas to permit a substitution of certain securities, or a withdrawal of securities, which it now holds, as hereinafter more fully set forth, and 'Whereas, the securities, if any, hereinafter mentioned, which the above named parties desire to substitute in lieu of those heretofore placed in safekeeping with the Federal Reserve Bank of Dallas, meet with the requirements of law and have been and are hereby approved, and 'Whereas, the securities, if any, hereinafter mentioned, which the above named parties wish to withdraw, are entitled under the law to be withdrawn, Now, therefore, be it resolved That the Federal Reserve Bank of Dallas be and it is hereby requested and authorized to surrender the following securities heretofore placed with it for safekeeping by the above named parties, to-wit RECEIPT NO DESCRIPTION PAR VALUE CUSIP# WITHDRAWAL 876417CZ7 3 90% Tarrant Co Water WCID #1 due 3-1-85 $30,000.00 and to receive in lieu thereof the following securities, which are hereby in all respects approved DESCRIPTION pproved liability bonds) approved PAR VALUE 'Be it further resolved That the Federal Reserve Bank of Dallas be and it is hereby authorized to deliver the securities described herein to the substituted for or withdrawn to MBank Fort Worth or its order " It was the consensus of the City Council that the following bonds be CONTRACTOR'S BONDS B & K Excavating Coy W Beauchamp, Incorporated Employers Insurance of Wausau a Mutual Company The Millers Mutual Fire Insurance Company of Texas