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2001-002-RES AWARDING BID FOR CITY DEPOSITORY FOR PERIOD BEGINNING MARCH 1 2001 AND ENDING FEBRUARY 28 2003
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2001-002-RES AWARDING BID FOR CITY DEPOSITORY FOR PERIOD BEGINNING MARCH 1 2001 AND ENDING FEBRUARY 28 2003
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Last modified
8/18/2006 4:28:59 PM
Creation date
8/7/2001 1:47:34 PM
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CITY CLERK
Doc Name
2001
Doc Type
Resolution
CITY CLERK - Date
1/8/2001
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<br />CHARGES <br /> <br />List any service charges that will be levied against the City: <br /> <br />NONE <br /> <br />, <br />, <br /> <br />RECE\\lEO <br />JM\ 02 2001 <br />err'! ~AG:R <br />PtJUs,~ <br /> <br />In addition to the normal services and supplies furnished by the depository bank, the following <br />services are standard and common to most depository contracts. They are to be furnished to the <br />City at no charge: <br /> <br />triplicate form deposit slips <br />bond and coupon services <br />parking facilities <br />one large safe deposit box <br />coin wrappers <br />night depository service including bags and keys <br />traveler's and cashier's checks <br />daily balance on each account <br />money orders <br /> <br />Bidders are requested to submit any further concessions or services in the space provided below <br />which they may want to offer to the City of Paris and make any comment as further consideration <br />in selecting the City's depository. <br /> <br />Bank will pay interest on City's Consolidated Cash Account at a rate <br />equivalent to the Discount Rate for 13-week Treasury Bills. This rate would be <br />changed each calendar quarter and calculated using the most recent Treasury <br />Bill Auction. <br /> <br />Using the most recent Treasury Bill Auction today would result in an interest <br />rate of 5.70% for this account. <br /> <br />All monies which are deposited into the depository under the provisions of this proposal shall be <br />continuously secured, in accordance with the laws of the State of Texas applicable thereto, by a <br />valid pledge of par, exclusive of accrued interest, at all times at least equal to the total amount of <br />money on deposit in said several funds on deposit in the depository. <br />
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