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NOTICE TO BANDING INSTITUTIONS WITHIN THE CITY OF PARIS <br />Notice is hereby given that Governing Body of the City of Paris, subject to the provision of <br />Chapters 105 and 131 of the Texas Local Government Code, will receive bids and applications <br />from all interested banking institutions within the City of Paris to serve as prime depository of <br />the City of Paris and maintain custody of the funds of the City for a period of two years from <br />March 1, 2023 through February 28, 2025. Any such application shall be delivered to the office <br />of the City Manager located in City Hall prior to 3:00 P. M., Monday February 20, 2023, <br />The City will accept bids only on the basis herein after described. <br />It is required that each bank bid by filling in all blanks and agreeing to the following <br />specifications: <br />Bank will pay to City interest on time deposits in accordance with the following schedule: <br />MATURITY <br />CERTIFICATES OF DEPOSIT UNDER $100,000 <br />RATE <br />7-13 days <br />T-bill plus or minus <br />0 <br />basis points <br />14-29 days <br />T-bill plus or minus <br />_0 <br />basis points <br />30-59 days <br />T-bill plus or minus <br />_0_ <br />_0_ <br />basis points <br />60-89 days <br />T-bill plus <br />_10_ <br />basis points. <br />90-179 days <br />T-bill plus <br />basis points <br />180-365 days <br />T-bill plus <br />_20_ <br />_30_ <br />basis points <br />CERTIFICATES OF DEPOSIT OVER $100,000 <br />7-13 days <br />T-bill plus or minus <br />0 <br />basis points <br />14-29 days <br />T-bill plus or minus <br />_0_ <br />basis points <br />30-59 days <br />T-bill plus or minus <br />0 <br />__ <br />basis points <br />60-89 days <br />T-bill plus <br />_15_ <br />basis points <br />90-179 days <br />T-bill plus <br />basis points <br />180-365 days <br />T-bill plus <br />_25_ <br />T35_ <br />basis points <br />The Wall Street Journal publishes the 26 week treasury -bill yield based on the results of the most <br />recent treasury -bill auction. Rates for certificates of deposit under this contract must be tied to <br />this 26 week treasury -bill yield. The rates should be quoted either plus or minus a given number <br />of basis points from this 26 week treasury -bill yield. <br />Please provide an explanation of how the interest rate for the City's Consolidated Cash account <br />will be determined. <br />All investment services offered to other bank customers will be available to the City. <br />