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NOTICE TO BANKING INSTITUTIONS WITHIN THE CITY OF PARIS <br />Notice is hereby given that Governing Body of the City of Paris, subject to the provision of Chapters <br />105 and 131 of the Texas Local Government Code, will receive bids and applications from all <br />interested banking institutions within the City of Paris to serve as prime depository of the City of Paris <br />and maintain custody of the.funds of the City for a period of two years from March 1, 2025 through. <br />February 28, 2027. Any such application shall be delivered to. the office of the City Manager located in <br />City Hall prior to 10:00 A.M., Monday February 3, 2025. <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 />The bank will pay City interest on time deposits in accordance with the following schedule: <br />CERTIFICATES OF DEPOSIT UNDER $100,000 <br />MATURITY RATE <br />7-13 days <br />T-bill plus 0.05 basis points <br />14-29 days <br />T-bill plus 0.05 basis points <br />30-59 days <br />T-bill plus 0.05 basis points <br />60-89 days <br />T-bill plus 0.05 basis points <br />90-179 days <br />T-bill plus 0.05 basis points <br />180-365 days <br />T-bill plus 0.05 basis points <br />CERTIFICATES OF DEPOSIT OVER $100,000 <br />7-13 days <br />T-bill plus 0.05 basis points <br />14-29 days <br />T-bill plus 0.05 basis points <br />30-59 days <br />T-bill plus 0.05 basis points <br />60-89 days <br />T-bill plus 0.05 basis points <br />90-179 days <br />T-bill plus 0.05 basis points <br />180-365 days <br />T-bill plus 0.05 basis points <br />The Wall Street Journal publishes the 26 week treasury bill yield based on the results of the most recent <br />treasury bill auction. Rates for certificates of deposit under this contract must be tied to this 26 week <br />treasury bill yield. The rates should be quoted either plus or minus a given number of basis points from <br />this 26 week treasury bill yield. <br />Farmers Bank & Trust agrees to provide Certificate of Deposit rates based on the 26 week Treasury <br />Bill asked rate (as quoted in the Wall Street Journal) on the date of investment with rate remaining <br />fixed for said term <br />Please provide an explanation of how the interest rate for the City's Consolidated Cash account will be <br />determined. <br />3 1 P a g e <br />