1989-046-RES WHEREAS, CITY COUNCIL IN RES NO 89-009 SELECTED NCNB
RESOLUTION NO. 89-046
WHEREAS, the City Council of the City of Paris did
heretofore in Resolution No. 89-009 select NCNB Texas National
Bank as depository for the City of Paris; and,
WHEREAS, said depository in compliance with the laws of the
State of Texas and its depository agreement approved in such
Resolution, desirous of securing City of Paris funds by
depositing of security with the Federal Reserve Bank of Dallas,
Dallas, Texas, upon the terms and conditions and in the form of
attached hereto as Exhibit A; NOW, THEREFORE,
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS,
That NCNB Texas National Bank be, and the same is hereby
authorized and directed to execute the Application To The Federal
Reserve Bank of Dallas For The Holding Of Securities In Joint
Safekeeping in the form attached hereto as Exhibit A on behalf of
the City of Paris.
Passed and adopted this 8th day of May, 1989.
C~~f [;tfP~~~-\
Eric S. Clifford,' yor .
ATTEST:
~~''-~~~
Mattie Cunningham, Cit C er
APPROVED AS TO FORM:
APPLICATION TO THE FEL
SAFEKEEPING
, RESERVE BANK OF DALLAS FOR THE
-ING OF SECURITIES IN JOINT
WHEREAS, the undersigned Depository has been duly and legal1y designated. and has done alllhillgs and performed all acts ncccssnry to qU:l.lify as the public
depository of the runds of the undersigned Depositor; and .
WHEREAS. to secure the funds deposited with it, the Depository has. in accordance with law, pledged with the Depositor the {ollowing securities:
PAR VALUE
DESCRIPTION
U.S. TREASURY NOTES 8 1/2 NOTE SER U-91
Federal Home Loan Bank Bonds-Cusip #3133B8RE2
3,100,000.00
3,170,000.00
tIn the above space give complete description of securities offered for joint safekeeping. H this space is not $uUicicnt. continue description on reverSe side
hereoO and
WHEREAS. o~hcr and llddilional securities may be pledged by the Depository with the Depositor at some (uture time: and
WHEHEAS. other and additional securities may be pledged by the Depository with the Depositor at some future time: and
WHEREAS. both the Depositor and Depository desire and hereby request that the Federal Reserve Dank or Dallas accept the securities above described. or
any hereo.fter tendered, to be held by it or converted to book entry securities (or the joint account of the Depositor and Depository in accordance with the provisions
of Bulldin 7 of the Federal Reserve Bank of Dallas.
NOW. THEREFORE, in consideration of the premises, and as an inducement to the Federal Reserve Bank of Dallas to hold in joint safekeeping the above
described securities or any other additional or substituted securities whieh may hereafter be tendered to it. it is agreed. by and between the Uepo!litor and
Uepository for lhe benefit of themselves and of the Federal Reserve Bank of Dallas should it agree to act in the capacity requested. as (allows:
1. The agreement o[ the Federal Reserve Bank o[ Dallas to ad under this application in the capacity requested shall be evidenced by the issu:ance of its Joint
Sdckeeping Receipt. [or definitive securities or Advice or Transaction for book entry securities, and it is understood and agreed that such receipt or advice shall he
subject to the terms and conditions hereinaller set oul.
2. The Federal Reserve Bank of Dallas shall ad only as a bailee. It shall give lhe securities hereinabove described. or any t:lken in substitution therefor or in
addition thereto. the SlIme care lhat it gives to its own property of like kind, but otherwise it sh:lll be liable only for its own neKliKence.
3. The Federal Reserve Bank o[ Dallas need not maintain any form of insurance (or the accounl of the Depositor and/or Depository on the securitie:> placed
with it under this agreement. The Depositor and Depository shall earry for their own account such insurance as they deem necess:\Cy or desirable.
4. Substitutions may be made for any of the above described securities. or any additional securities which m<lY be tendered or accepted. or lor securities which
have been previously subsliLUled under the lerms of this paragraph, upon the request ofthe Depository. subject to the approval or the Depositor. Such substituted or
additional securities sh311 be subject to the terms and conditions or this agreement and Bulletin 7.
5. The securities above described. or any additional securities which m3Y be tendered and accepted. or taken in substitution therdor shan be surrendered
upon the request of lhe Depository, subject to the approval of the Depositor.
6. The Federal Reserve Bank o[ Dallas shall In no manner be responsible for the genuineness. negotiability, acceptability. or eligibility or the securities
delivered to it under this application. Its only responsibility is to hold or surrender or convert to book entry such securities as may be delivered to it. in accordance
with lhis agreement.
7. The Federal Reserve Bank of Dallas is authorized to dip the maturing interest coupons on the definitive securities which it holds under this agreementl\nd
deliver them or credit lheir proceeds under advice to the reserve account or the Depository unless other instructions are issued in writing by the Depositor. Interest
payments on book entry securities will be credited under advice to the reserve account aU he Depository on the interest due date unless other in!ltructions arc issued
in writing by the Depositor.
8. The Federal Reserve Bank or Dallas is authorized to act upon instruction given by an authorized person of the Depository whose signnture is on file with thc
Federal Reserve Bank. The signature of the Depositor is that aHixed lo Joint Safekeeping Signature Card ISEC.2101 on !ile with the Fcder:tl Iteserve Bank. nnd the
s:lid Federal ReServe Bank is aulhoriud to act upon instruction or approval given by such authorized person whenever such instruction or approval is necessary
under this agreement. H there should be a successor to anyone authoriz.ed to ad [or the Depositor or Depository named herein before the {ull delivery or all securities
covered by any Joint Safekeeping Receipt and/or Advice of Transaction issued upon this application. includin,lt substitutions. it shall be the duty of !lllid Depositor IIr
Uepository to certify the name and signature of such successor or successors to the Federal Reserve Bank o[ Uallas. and thereafter s:\id lI:\nk shall be authorb:(!d to
act upon instructions [rom such person to the same extent as under instructions of the persons named herein.
g. The terms nnd conditions enumerated herein shall supplement and be in addition to those set forth in Bulletin 7 of the Feder:lI He"ervc U:lnk of Dalllls, and
the parties hereto expressly agree to act in accordance with the terms and conditions of said Bulletin 7.
10. The Governing Body referred toin this instrument is The City Council of . tli.e City of Paris. Paris. Texas
and SOlid body, by proper rcsolution spread upon its minuteS, fully authorized the execution or this agrcement by the Deposilor.
IN WITNESS WBEREOF, this agreement is executed in Triplicate. II copy being intended for the Depositor. the Deposilory, and the federnllte!!ierve lIank or
Dnllas. on this the
3
d.y or MARCH
19~.
NCNB Texas National Bank-Paris Banking Center
By
Depository
This is to certify that the above and (ore going application wu duly considered by the Governing Body nl\.mcd in the :lpplication at a meeting properly held on
the 8th day or MaY , 19~ II. quorum being present. and that said Governing Body dul~ authorb..ed and ordered
the application to be executed and complied with. 311 of which, logether with a copy of this applic<ltion, fully appears in the minutes of s<lid meeting.
N'\.~;), <:,:,~'. -- ~\\.l'N\)
Secre tary or Clerk
Mattie Cunningham, City Clerk
(SEAL)
SEe-'20 (Rev.6.84J
EXHIBIT A
STATE OF TEXAS ~
COUNTY OF LAMAR ~
I, Barbara Denny, hereby certify that I am the duly
appointed, qualified and acting City Clerk of the City of Paris,
Paris, Texas, and as such I have in my possession in the Office
of City Clerk of the City of Paris, all of the ordinances,
resolutions and minutes of the City Council of the City of Paris,
and that the foregoing Resolution No. 89-046 is a true and
correct copy of the original of said instrument, which was passed
by the City Council on the 8th day of May, 1989.
~b~en~~itant City Clerk
City of Paris, Paris, Texas