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All time deposits or Certificates of Deposit which have not elapsed on the termination date of the <br />finally approved depository contract, shall remain on deposit with the same depository under the <br />same terms and conditions in effect during said contract until the date such time deposits have <br />elapsed. Funds from Bond sales may be deposited in the City Depository or placed in oufside <br />investments. <br /> <br />The City of Paris reserves the right to accept or reject any or all bids, to waive formalities, and to <br />accept the bid the City considers the most advantageous. The City also reserves the right to place <br />or invest part or all of any of its surplus or excess funds outside the designated depository, in any <br />manner permitted by law, from time to time throughout the term of the contract. <br /> <br />NAME OF BANK: HIBERNIA NATIONAL BANK <br /> <br />TITLE: CITY PRESIDENT <br />DATE: January 6, 2003 <br /> <br /> <br />