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All time deposits or certificates of deposits which have not elapsed on the termination date of the finally approved depository contract, shall remain on deposit with the same depository under the same terms and conditions in effect during said contract until the date such time deposits have elapsed. Funds from Bond sales may be deposited in the City depository or placed in outside investments. s The City of Paris reserves the right to accept or reject any or all bids, to waive formalities, and to accept the bid the City considers the most advantageous. The City also reserves the right to place or invest part or all of its surplus or excess funds outside the designated depository, in any manner permitted by law, from time to time throughout the term of the contract. NAME OF BAI�K Liberty National Bank in Paris BY: f TITLE: President DATE: 12 -29 -00 Resolution No. 2001 -003, authorizing and approving a letter of agreement dated September 21, 2000, over the signature of Mr. James G. Freeman, District Engineer, regarding the installation of emergency vehicle preemption equipment at the intersection of U. S. Highway 82 and Pine Mill Road in the City of Paris, Texas, and the City Manager, Michael E. Malone, is hereby authorized to execute said agreement on behalf of the City of Paris, was presented. A motion was made by Councilman Bell, seconded by Councilman Plata, for approval of the resolution. The motion carried 7 ayes, 0 nays.