1989 - Laserfiche WebLink

Home Browse Search

0►� SERVICES � I. Interest on CheC3c M and Money Market Savings aca7unts Mail_ able. The rates are tied to quoted rates paid by. NCNB Texas National Bank for Public Fund accounts -' Currently interest on Checking is 4 "1/4* and Money Market--.34 Savings is 4 1/2 %. Demand Deposits -are non - interest bearing. The miniimum balance is $1,000.00. II. Investment Services: NCNB Texas National Bank -Paris Banking Center can provide investment services (brochure attached) thrcnxi NCNB Texas Funds Management Group - Securities Dealership located in Dallas. Mmough our Dealership we have been offering. investment products to-Bank custcaners for over 50 years. We make markets in all -actively traded U.S. Government and Government Agency securities. Your investment representative will be-Ric Edgman at 214/977 -3431 with Gary SChutte as back -up, Transaction Fee -0- if purchased through NCNB Texas Safekeeping Fee see attached brochure ? Wire Service Fee -0- if purchased through NCNB Texas III. Collateral and' FDIC Insurance Considerations: All deposits exceeding $100,000 will be secured by U.S. Government Bonds, Federal Agencies, or Municipal Bonds. * The collateral value will equal or exceed 100$ of the amount of the City of Paris funds on deposit with the Bidder less the amount of FDIC Insurance applicable to the "City of Paris, provided that the deposits are received on or before 10:30 a.m., and that.the Bidder will be given twenty -four hours notice on deposits in excess of three million dollars. When calculating the amount of securities needed to secure the City of Paris' funds, Bidder is allowed by law .to use the FDIC Insurance which would be a maximum of $300,000, as applicable ($100,000 for demand deposits, $100,000 for time deposits and a separate $100,000 for any interest and sinking funds), The City of Paris acknowledges and agrees that the Bidder retains the right at any time and from time to time to substitute other securities for pledged securities. In the interest of time, substitution will be complete upon receipt by the City of Paris of a telecopy of the receipt of the replacement securities with the original to follow by mail. This will allow for the release of existing collateral on the day of substitution. The third party Safekeeping used by NCNB Texas for Public Funds Is the Federal Reserve Bank of Dallas. Attached is a copy of the Safekeeping application for your review. IV. Other Services: The. Bidder agrees to offer any service now in effect or developed in the future to the City of Paris under mutually agreed upon terms. Any existing service, present or future, may be modified at anytime by mutual agreement. V. Account Analysis: When applicable, services can be placed on Account Analysis. iii r