09-E City Depository - Award Bid

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NOTICE TO BANKING INSTITUTIONS WITHIN THE CITY OF PARIS Notice is hereby given that Governing Body of the City of Paris, subject to the provision of Chapters 105 and 131 of the Texas Local Government Code, will receive bids and applications from all interested banking institutions within the City of Paris to serve as prime depository of the City of Paris and maintain custody of the funds of the City for a period of two years from March 1,2007 through February 28,2009. Any such application shall be delivered to the office of the City Manager located in City Hall prior to 3:00 P. M., Tuesday January 2,2007. It is required that each bank bid by filling in all blanks and agreeing to the following specifications: Bad\: _vill pay to City interest on time deposits in accordance with the following schedule: CERTIFICATES OF DEPOSIT UNDER $100,000 MA TURITY RATE 7-13 days 14-29 days 30-59 days 60-89 days 90-179 days 180-365 days T-bill plus or ~ ~ basis points T-bill plus or~s ~ basis points T-bill plus or~ ~ basis points T -bill plus or ~ ~ basis points T-bill plus or~ ~ basis points T -bill plus or min:'ls- ~ basis points CERTIFICATES OF DEPOSIT OVER $100,000 7-13 days 14-29 days 30-59 clays 60-89 days 90-179 days 1 80- 365 days T-bill plus or~ ~ basis points T-bill plus or minJlf: ~ basis points T -bill plus or ~ ~ basis points T-bill plus or ~ ~ basis points T-bill plus or 1lJ.inuEJ ~ basis points T-bill plus or ~ ~ basis points All investment services offered to other bank customers will be available to the City. The City will accept bids only on the basis herein after described. Certificate rates bid must be tied to the Treasury Bill rate effective at the time the certificate is to be purchased. The Bill rate to be used will be the quoted yield in the Wall Street Journal for Treasury Bills most closely approximating the maturity of the Certificate of Deposit to be purchased. Certificate of Deposit rates should be quoted either plus or minus a given number of basis points from the T-bill yield. The Wall Street Journal to be used yvill be the paper dated the same day the certificate is purchased.