1999-001-CITY DEPOSITORY, LIBERTY NATIONAL BANK
RESOLUTION NO. 99-001
WHEREAS, the City Council of the City of Paris, Paris, Texas, did heretofore advertise
for bids in accordance with the laws of the State of Texas and the Charter of the City of Paris for
a City Depository for the period beginning March 1, 1999, and ending February 28,2001, which
bids were received until 3:00 o'clock P.M., Tuesday, December 29, 1998; and,
WHEREAS, the best bid for City Depository was made by Liberty National Bank in Paris,
and it should be awarded the contract for such depository; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, that the bid
of the Liberty National Bank in Paris to act as City Depository for the period beginning March
1, 1999, and ending February 28,2001, be, and the same is hereby, accepted and let; and,
BE IT FURTHER RESOLVED, that the Mayor, Charles H. Neeley, be, and he is
hereby, authorized and directed to execute, on behalf of the City of Paris, the contract with
Liberty National Bank in Paris to act as depository for the City of Paris upon the terms and
conditions set out in that institution's bid, attached hereto as Exhibit A.
PASSED AND ADOPTED this 11th day of January, 1999.
ATTEST:
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Mattie Cunningham, City Cl~
APPROVED AS TO FORM:
C~6~
- Scott P. Foster, City Attorney
RECEmED
DEe 2 9 1998
CITY MANAGER
NOTICE OF BANKING INSTITUtfUi>>lS 'WIXlIBN THE CITY OF PARIS
Notice is hereby given that Governing Body of the City of Paris, subject to the provision of
Article 105, Revised Civil Statutes of Texas, as amended, will receive Bids and Applications
from all interested banking institutions within the City of Paris to serve as prime depository of
the City of Paris and maintain custody of the funds of the City for a period of two years from
March 1, 1999 through FebrulrrY 28, 2001. Any such application shall be delivered to the
office of the City Clerk in the C,ty Hall Annex prior to 3:00 P. M., December 29th, 1998.
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It is required that each banI{ bid by filling in all blanks and agreeing to the following
specifications: !
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Bank will pay to City interest Of time deposits in accordance with the following schedule:
100000.00
Maturitv
RATE
7-13 days
14-29 days
30-59 days
60-89 days
90-179 days
180-365 days
T-Bill (Plus) (Mimls)~Basic Points
T-Bill (Plus) (~.3.5-Basic Points
T-Bill (Plus) (~~)~Basic Points
T-Bill (Plus) (JlOO1<<l9 35 Basic Points
T-Bill (Plus) (MlK~ ~ Basic Points
T-Bill (Plus) (IJlNNI!!Q 35 Basic Points
Certificates of Deposit over $100.000.00
Maturitv
RATE
7-13 days
14-29 days
30-59 days
60-89 days
90-179 days
180-365 days
T-Bill (Plus) (MlK~22-Basic Points
T-Bill (Plus) (~~Basic Points
T-Bill (Plus) (~~Basic Points
T-Bill (Plus) (~22-Basic Points
T-Bill (Plus) (~2LBasic Points
T-Bill (Plus) (~22-Basic Points
The City will be privileged to use all investment services offered all other customers.
The City will accept bids only on the basis herein after described.
Rates bid must be tied to the Treasury Bill rate effective at the time the certificate is to be
purchased. The Bill rate basis to be used will be the quoted yield in the Wall Street Journal for
Bills most closely approximating the maturity of the Certificate of Deposit to be purchased.
Bonds should be quoted either plus or minus a given number of basis points from the T - Bill
EXHIBIT A
...
yield. The Wall Street Journal to be used will be the paper dated the same day the certificate is
purchased.
Charges
List any service charges that will be levied against the City. NONE
In addition to the normal services and supplies furnished by the depository bank, the following
services are standard and common to most depository contracts. The following services are to
be furnished at no charge to the City of Paris:
Triplicate form Deposit Slips
Bond and Coupon Service
Parking Facilities
Safe Deposit Boxes
Coin Wrappers
Night Depository Service, including Bags and Keys
Traveler's and Cashier's Checks
Daily Balance on Each Account
Money Orders
Bidders are requested to submit any further concessions or services in the space provided
herein which they may want to offer to the City of Paris and make any comment as further
consideration in selecting the City's Depository.
All monies which are deposited into the depository under the provisions of this proposal shall
be continuously secured, in accordance with the laws of the State of Texas applicable thereto,
by a valid pledge of par, exclusive of accrued interest, at all times at leaSt equal to the total
amount of money on deposit in said several funds on deposit in the depository.
All time deposits or time Certificates of Deposit which have not elapsed on the termination
date of the fmally 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.
The City of Paris reserves the right to accept or reject any or all bids, to waive forrna1ities, 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 any 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.
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: LibertY\. National
!
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President
DJ\TE: l?-?R-qR
Bank in Paris
Publish The Paris News
December 13, 1998
December 20, 1998
LEGAL NOTICE
NOTICE OF BIDS AND APPLICATIONS FOR SELECTION OF CITY DEPOSITORY
Applications for the custody of City funds will be received by the Governing body of the City
of Paris, Paris, Texas from any banking corporation, association, or individual banker doing
business within said City of Paris that may desire to be selected as depository of the City of
Paris for the ensuing two years, beginning March 1, 1999.
Bids and applications, which forms are available in the office of the City Clerk, City of Paris,
shall be filed with the City Clerk on or before the 29th day of December 1998 at 3:00 P. M.
~~" ~~
MATTIE CUNNIN~H~
City Clerk, City 0 f Paris
Paris, Texas
BID LIST
Liberty National Bank
305 Lamar Ave.
Paris, Texas 75460
Nationsbank
1161 Clarksville St.
Paris, Texas 75460
Lamar National Bank
200 S. Collegiate Dr.
Paris, Texas 75460
Hibernia Bank
2800 Lamar
Paris, Texas 75460
Peoples National Bank
35 South Plaza
Paris, Texas 75460
First Federal Community Bank
630 Clarksville St.
Paris, Texas 75460
Guaranty Federal Bank
140 N. Collegiate Dr.
Paris, Texas 75460