1995-023-RES WHEREAS, CITY COUNCIL DID HERETOFORE ADVERTISE FOR BIDS
RESOLUTION NO. 95-023
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 I, 1995 through
February 28, 1997, which bids were received until 3:00 o'clock P.M., Tuesday, January
3, 1995; 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, beginning March
1, 1995, through February 28, 1997, is hereby accepted and let; and,
BE IT FURTHER RESOLVED, that the Mayor Pro Tern of the City of Paris,
Eric S. Clifford, 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 13th day of February, 1995.
Eri~Ym~=
ATTEST:
Mattie Cunningham, City
1(;(
1
PubllSh The Paris News
January 15, 1995
January 22, 1995
LEGAL NOTICE
NOTICE OF BIDS AND APPLICATIONS FOR SELECTION OF CITY DEPOSITORY
Applicatlons for the custody of City funds will be received by the
Governlng body of the City of Paris, Parls, Texas from any banklng
corporatlon, assoclation, or indlvldual banker dOlng buslness wlthin sald
Clty of Parls that may deslre to be selected as depository of the Clty of
ParlS for the ensulng two years, beginning March I, 1995
Blds and applicat1ons, WhlCh forms are avallable in the offlce of the Clty
Clerk, City of Parls, shall be flled wlth the Clty Clerk on or before the
7th day of February, 1995 at 3:00 P. M.
MATTIE CUNNINGHAM
City Clerk, Clty of Paris
Pans, Texas
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EXHIBIT A
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JAN 5 1995
NOTICE OF BANKING INSTITUTIONS WITHIN THE CITY OF PARIS
CITY MANAGER
Notice is hereby given that Governing Body of the city ol'A1U,S,.iIlI;:XAS
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, 1993 through
February 28, 1995. Any such application shall be delivered to the
office of the City Clerk in the city Hall Annex prior to 10:00 A. M.,
January 5, 1993.
It is required that each bank bid by filling in all blanks and agreeing
to the following specifications:
Bank will pay to City interest on time deposits in accordance with the
following schedule:
7-13 days
14-29 days
30-59 days
60-89 days
90-179 days
180-365 days.
Certificates of Deposit under $100,000.00
Rate
T-Bill (~(Minus) 24 Basis Points
T-Bill (~)(Minus) ?/I Basis Points
T-Bill (~) (Minus) ?/J Basis Points
T-Bill (~) (Minus) ?/I Basis Points
T-Bill (~) (Minus) 76 Basis Points
T-Bill (~) (Minus) 76 Basis Points
Certificates of Deposit over $100,000.00
Maturity
Maturity Rate
7-13 days T-Bill (~) (Minus) .71 Basis Points
14-29 days T-Bill (~)(Minus) 71 Basis Points
30-S9 days T-Bill (~) (Minus) /1 Basis Points
60-89 days T-Bill (~) (Minus) 71 Basis Points
90-179 days T-Bill (~) (Minus) 71 Basis Points
180-365 days T-Bill (NJQs) (Minus) 21 Basis 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 of minus a given number
of basis points from this T-Bill yield. The Wall Street Journal to be
used will be the paper dated the same day the certificate is purchased.
/
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Charqes
a.
b.
Handling Checks and Deposits
Handling Temporary Overdrafts
stop Payments
Rates of Interest on Warrantsl
Certificates
o
o
15.00
Liberty National Bank Base Lending
'Q::It-o C!l1hj&>f"t- t-n ,..~o...H... ::Iprroval
c.
d.
In addition to the normal services and supplies
depository bank, the following services are standard
depository contracts. The following services are to
charge to the City of Paris:
furnished by the
and common to most
be furnished at no
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
direct obligations having a par value or market value when less than
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 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.
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CITY MA~X~R
pARIS. .
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 of 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.
Name of Bank
By
Title
Date Jan. 5, 1995
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