14-Deliberate and act on Resolution with Liberty National Bank

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CITY COUNCIL AGENDA ITEM BRIEFING SHEET Submittal Date: Originating Department: Presented By: Agenda Item No.: 1-18-11 Council Date: 1-24-11 Finance Gene Anderson 14. RECOMMENDED MOTION: Move to approve a Resolution accepting the bid and awarding a contract with Liberty National Bank for depository bank services; and authorizing the City Manager to ne rotiate and execute all necessary documents POLICY ISSLJE(S): Fiscal management Public notice was given that the Governing Body of the City of Paris, subject to the provisions of Chapters 105 and 131 of the Texas Local Government Code, would 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, 2011 throUgh February 28, 2013. Notice was published in the Paris News and emails were sent to local banks. Bids were received at the office of the City Manager until 3:00 P. M., Tuesday January 18, 20] 1 with only Liberty National Bank submitting a bid. The staff recommends acceptance of this bid. BOARD/COMMISSION RECOMMENDATION: None E XHIBITS: Resolution and bid document. ACTION: BUDGET INFO: ❑ Financial Report ❑ Minute Onder Expense $NA ❑ Department Report E Resolution P Budgeted Amt $NA ❑ resentation ❑ Ordinance ❑ P bli H ri ❑ O h yTD Actual $NA u c ng ea er t Acct Name NA Acct Number NA FISCAL NOTES: None REVIEWED AND APPROVED BY: 0 Administration Z City Clerk ❑ Community Development ❑ EMS/IT Z Finance ❑ Fire ❑ Municipal Court Z Legal ❑ Library ❑ Police ❑ Eng./Public Works ❑ Utilities Cit,y of Paris ~ Revised 2/04/08 8