11-APPROVE RESOLUTION ACCEPTING BID FOR CITY DEPOSITORY

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Bidders are requested to submit a list of any furiher conccssl�ns or services in the spsce pravidod below which they may want ta affer to thc City of Paris and makc any comment as fwther consideration in selecrin8 the City's dcpository. If necded, please add additional pages. Bank will pay interest on the City's Consolidated Caeh Account at a rate equivalent to the auction xate for 2b-week Treasury Bills plus 30 basis points. The rate will be changed each calender quarter and will b� calculated ueing the moet recent Treasury Bill auction. Using the awst recent Treasury Bill auction a rate of .43% wouid result. Upon notification to Bank, the City of Paria would have the option to bring other City transaction accounts under a rate plan paying the auction rate for 26-week Treasury Bills plus 1Q basis points. Using the most recent Treasury $ill auction a rate of .23Z would result. Bank will origlnate will furniBh to City of each transaction City's ACH payments, both debits and credits, without charge. Bank without charge at the end of each year CD's containing a aummary account activity All monies which are deposited into the depositary undcr the provisions of this proposal shall be cairtinuously secured, in accordance with the laws of the State of Texas appticable thereto, by a valid pledge af par, exclusive of accrued interest, at all times ai least equal to 1 Q2% of the amount of moncy on deposit in said several funds on deposit in tl�e depository. All time deposits or certificates of deposits which have not elapsed on the terrniaation date of the finally approved depository contract, sha!! �emain on deposit with the same depository under the same terms and eonditions in effect during said contract unti} the date such time dcposits hsve elapsed, Funds from Bond salcs may be deposited in the City depository or placed in ouaide investments. The City of Paris reserves the right to accept or reject any or all bids, to waive formalities, end to accept the bid the Ciry considers the most advantageous. The City aiso reserves the right to place or invest part or all of its surplus or exczss funds outside the designated depositary, in any manner permitted by law, firom time to time througttout the term of the contract, The undersigned bank officiai represents that he is authorized by the Bank's Board of Directors to sign this documcnt and legally obligate ti�e Bank to the tcrms stated in this agreemcnl. NAME OF aANK Liberty National Bank BY: I � , � P ilip R. Cecil T��.E: r�t,g{�gn DATE: Jaauary 7 , 2813