2007-005-RES-Bid for City Depository

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RESOLUTION NO. 2007-005 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS, AWARDING THE BID FOR CITY DEPOSITORY FOR THE PERIOD BEGINNING MARCH 1, 2007 AND ENDING FEBRUARY 28, 2009; AUTHORIZING THE EXECUTION OF A CONTRACT UPON THE TERMS AND CONDITIONS SET OUT IN THE INSTITUTION'S BID; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of Paris, Paris, Texas, did heretofore advertise for bids in accordance with the laws of the State of Texas and the Charter of the City of Paris for a City Depository for the period beginning March I, 2007, and ending February 28, 2009, which bids were received until 3 :00 o'clock P.M., Tuesday, January 2, 2007; and, WHEREAS, the best bid for City Depository was made by Liberty National Bank in Paris, and it should be awarded the contract for such depository; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the bid of the Liberty National Bank in Paris to act as City Depository for the period beginning March I, 2007, and ending February 28, 2009, be, and the same is hereby, accepted. Section 3. That the Mayor be, and he is hereby, authorized and directed to execute, on behalf ofthe City of Paris, the contract with Liberty National Bank in Paris to act as City Depository for the City of Paris upon the terms and conditions set out in that institution's bid, attached hereto as Exhibit A. Section 4. That this resolution shall be effective from and after its date of passage. PASSED AND APPROVED this 8th day of January, 2007. Richard Manning, Mayor ATTEST: APPROVED AS TO FORM~ . H' r~~-A. D. Lestock, Assistant City Attorney