09-E City Depository - Award Bid

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It . . . " . . It . . . . . . . . . ~ ~ t ~ . . . . . . ~ ~ l All monies which are deposited into the depository under the provisions of this proposal shall be continuously secured, in accordance with the laws of the State of Texas applicable thereto, by a valid pledge of par, exclusive of accrued interest, at all times at least equal to 102% of the amount of money on deposit in said several funds on deposit in the depository. Noted and accepted. SEE A TT ACHMENT III - Texas Security Agreement SEE A TT ACHMNET IV - Federal Pledgee Agreement SEE ATTACHMENT V - Pledged Security Report (furnished monthly to the city) All time deposits or certificates of deposits which have not elapsed on the termination date of the finally approved depository contract, shall remain on deposit with the same depository under the same terms and conditions in effect during said contract until the date such time deposits have elapsed. Funds from Bond sales may be deposited in the City depository or placed in outside investments. Noted and accepted. The City of Paris reserves the right to accept or reject any or all bids, to waive formalities, and to accept the bid the City considers the most advantageous. The City also reserves the right to place or invest part or all of its surplus or excess funds outside the designated depository, in any manner permitted by law, from time to time throughout the term of the contract. The undersigned bank official represents that he is authorized by the Bank's Board of Directors to sign this document and legally obligate the Bank to the terms stated in this agreement. NAME OF BANK BY: Tan a Lamothe TITLE: DATE: December 20, 2006 Capital One Confidential