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• <br />• <br />@ESOLUTION N0. 68,8 <br />WHFBEAS, the City of Paris duly advertised for application for <br />City Depository in accordance with the provisions of Article 2559t <br />Kevised Civil Statutes of Texas; and, <br />WHEBEAS, the application of The Liberty National Bank in Paris <br />was dnly ffled xithin the time prescribed and contained the most <br />favorable terms and conditions for the handling of citq funds; now, <br />therefore, <br />gE IT gESOLVED BY THF: C ITY COIINC IL OE' THE C ITY OF PARIS : <br />1. That the applicatien of The Liberty National Bank in <br />Paris for City Depository be approved and that said <br />bank be, and it is herebp designated as Gity Depository <br />for the City of Paris for the ensaing tNO years beqinp- <br />ing March 1. 1957* and ending Febraary 28. 1959. <br />2. That James B. Gill, btayor of the City of Paris, be, and <br />he is hereby authorized to execute a contract fn behalf <br />of said City with said Bank providing for the paywnt to <br />the City of Paris of interest at the rate of one per <br />cent (1%) per annum on time deposits which etaay be with- <br />drawn after five (5) days qotice to snch Bank by the <br />Director of Finance of the City of Paris. <br />3. That said banY shall qualify as City Depository by <br />pledging secnrities with tbe City of Paris in accordance <br />with Section D of Article 2560. Bevised Civil Statutes <br />of Texas. which securities shall be deposited with the <br />Director of Finance of the City uf Paris and by him safe- <br />ly kept. All securities pledged to the City of Paris <br />shall be appxoved bp the City Coancil as required by <br />laM. <br />Passed in reqalar neetiny of the City Council of the City af <br />Paris, this the ~day of March. A.D. 1957. <br />, <br />m8yOr <br />City Clerk, <br />