83-004 RES CITY COUNCIL DID ADVERTISE FOR BIDS IN ACCORDANCE WITH LAWS OF STATE OF TX AND CHARTER OF COP FOR CITY DEPOSITORYRESOLUTION NO. 2239 $3 ' QO s-
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 l, 1983 through F'ebruary 28, 1985, which bids were
received until 10:00 o'clock A.M., Wednesday, February 9,
1983; and,
WHEREAS, the best bid for city depository was made by
The 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 l, 1983, through
February 28, 1985 is hereby accepted and let; and,
BE IT FURTHER RESOLVED, that the Mayor of the City of
Paris, Joe Graham, be, and he is hereby authorized and
directed to execute on behalf of the City of Paris the
contract with The 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 14th day of February, 1983.
J e ~Ga~hhaam, Mayor
ATTEST;
~41~~...,~--~----
J N. McCollum, Acting City Clerk
APPROVED AS TO FORM:
T. K. Haynes, City Attorney
P;OTICE UF _BUNKiNG lNSTIlUiIC)fJS WITHIN TNE CiTY OtPARIS EXHIBIT A
Not•i ce i s hereby given tha t,overni nq Bady of the City of f'., s, subject
to the provi,ion of Article 2559 to Article 2566A, %j<.e;i Civil Statutes
of Texas, as amended, wi 11 r Lcei va Gids and Applicatiun.a ircm al l intereste(j
banking institutiuns Writhin the City of Paris to sei,ve a> prine depo;itory
of the Ci ty of f'ari s and maintai n custody af the func! Of the C; ty for a period
of two years froln March 1, 1983 throuqh Februar)' 28, 1985. llrly such applicatiori
shall be delivcrtd to the office of the City Cir,r;, i,; 'he C;ity };al1 prior to
10:00 A. M., FebruGry 9, 1983.
It is required that each bank bid by filling i;; ai' ;,lanki ar;d agr,ecing to
the following specifications:
INTLREST RATE5
1• Demand Deposits
2. Time Deposi ts
f= i k;0 d Maturi ti eS arod/or, C/D' s
14 days to 29 d.:ys
30 days to 89 days
90 days to 1 year
I year to 2 years
Compounded ::hen :
3. Char,qes
a. Handl i ng Chrc:ks and Depo,m,
b. Har;dlinEi Temporar,y Overdraft;
c. Rates of interest on loans
Maximum laan i imi t
d. ftates of inter;_sL or; t•rarrants
,
~ >100,000.
Over
~ ~
TE=fff~ct;ve
Yie1c!
,
sc,e x,ttacl:menr €
~
i
8.00°; :
*
2.00% ; i3`o 3
3. 00.
; * ' ? J . 3W; x
,
is,
, ~
- _ - •
cia i l y ;iot Uorn,[,,o~.inded e. Charges, if ar1y, for furriishing ofi al i
pri nted check ;and vouchers based ori
Ci ty of Pari s nteds and specifi cati ot7s
In addi tion to the normal serrice5 and suppl ies `,'urn is
the foilowing services are standtlyd and common io most
following services are to bp furnished at no ch.zrge to
-ND cf1;3L'<J(? (SF'E' 11pC:E' 1)
No ~~h~irr~Er
8.00
$900,000
8. 0 0 1z~
Aio c.large
,ed by the depos i tory b;ink,
dc'p~~sitory contracts. The
i.h,'. f:y of Pari
* In c3dG1t10C] i`,O l`.!]E.Si: CjUOt.t":'iu Y'<?tE'S I.;ity LIOU1.d 'tlaVe t."1e :?ptlOY] ;f 1C1VE.'Si`,l:lc,
in the following floating rate arrangemepts.
1. Money Market Account - this is a limited transaction account Lhat pays
a I'l3Y'kP.t ,"c3i,E? Ch3I1geCj WE'E;'zC;v. Thc; ra`.c D:"ild E'aC}l 11i'e'r: rrdOUl(j be !;O LE:S:>
than the coupon equivaler;t rate f'or 91-Day Tl°e a,ury Hills sold at a.uction
on Monday prior to the rate change E;ach `i uesday. i3ank niay pGiy a higher
rt te thun the 97-Day I3i11 raLe, hi.it, ir; no cL2e wotaJ.r± pay any less.
A $2,500.00 minimum is requircd.
Super Now Account - thirs is an ur.? inritcd ti ansactic,r
._lccount
tr3at pays
amarl;et rate cn anr;ed wee]<I y. I t
e rate paid Pact, nc
ei: would
be no lc ss
than the coupon equiva' ent rate f
or 91-1)ay Tr:, asury
Bil_1:, le
1 % sold
at auction or1 Mond<y prior to tt.o
rate cr> >,Ee on T=-i<
<<;_ . B
ani: m.xy
pay a higher rate than t,r,e 91-Day
:,iil r<::te. le ; i`-`,,
but iri
no ca_:,e
would pay any less. 11 12,500.00
ir::imum ,_s requircd
.
3. 182-Day Money Market Certificatn of Deposit - rate t_r_,d ro r°ate paid
on 182-'Jay Treasury 3ills. $2y`jlj0.CO ;n=nir;um.
4. yl-llay Certificate of Deposit - rate ticci to raLe ,;aid on P1-Uay Treasury
Bil1s. ~00.Cr ~ rr,ini;T;ur.~~.
~
5. Seven Day Not;icc: Cc.rtif icate of lieposit; -
rate
r:h<ant os wce6:]y on
thi:;
certifica'te but as rnir~icr:tin, rate <<~~::l1 hc
~
Lhc:
~
~~oar~ ~;c>.i
r:,~~,aivrale.7,,
* _ r
a:,..
for 91 iiay 'reasury Bill__ plus lio°`. B"nY
ma,;
pav a
hip;rh<-r rrltr,
than
i.he 91-i;a`,' B1l.1 T'at:', ;)IUs 1/'i%y Ll:t, ln n0 C.a3e i:0!iid Gay aC:y .ies.,.
V2,500.00 Pii:"li[iiUm f'eCiUlY':'(i.
. ~
. ,Ui, ! ' ~
N0tE' I. , . `h~ 3C1 ~ c ~'t> 1.i. ~ 1 i C( lll~ L~10 Ul] ~ ~ ~
, _ ,
„ >l,.~.. O:1 .:t.' .
.~l`~'1 ._:(;!~~i .;Ill) G the F)c!l_lii7]Ct:
011 be].ow µ,1 ,5Ci0.00.
I -
, i1 i cate form Ueposit Sl ips
P, . i ng Agent for Bonr;s
Esond and Coupon Sf:rvice
4;ir"e Transfer Servic.e
F'arking Facilities
Safe Deposit Boxes
Cuin Wrappers
N; ght Deposi tory Servi ce i nrl udiny Bags and Keys
Traveler's ancl Cashier's Cheek,
Daily 6alance on Each Account.
Bidders
are requested to submit any
furi±7er• concesni
ons
or servicfs;
in the space
provided
herein which they i>>ay want
to offer to the
City
tlf Paris <,n
d make ar;y
connent
as further censideration in
se1cctiny the Ci
t,r"7
dE_po>itor-y.
All f110f11PS wh1Cf1 dY'£ de7051ttd 111t0 the
dE'})OS1±0ry ;l1;d(?t, `hE' pY'OV1s1o11S
of ty11S
pr,oposal
shall be continuously sccured,
in accr>rcldncp wiLp fhe idwg of t
o:
he Si;df
of Texas
applicable thereto, by a valid
p1cdge of di!.ri, t ak:,i i,;,;(:inni
.
haviny par
va1ue o{
market value when {r:ss ihan pdr-
, cxcli.sive uilci_<<it.d VWCM
it ail
tlllleS at
l[',lSt e(;ual tU L}tl' tOti?l i1111;)Uflt
,
Oi IiiOli('y Uri t1('p0' n jt7 n<iid s("!
yf'2i3
funds on
deposit in the depos;±ory.
Qll t1mP C1EpOS1tS OY' tImC' C(?Y't1f1CdtE'S Of dPpus1i. 1''illCi' r.:zv;' t;(it ?_'ldpieCi 011 tFlr:'
terminat.ion date af the finUllf approved depositcry con,.r_~ct, shall remairl on
deposit w;zh the same depository under the same terKs ond ror;ditions in effect
dut°ing said contract until the date such ti~~e 6epo5itv l;av~ olap,ed,
Tt7e City of Paris
reserves the
riyht to
accept o;° rojecL ayiy or a1 i
bid;, to~
waive formaliti es
, ancf to accept the bi d
the Ci ty co>>s iders
the inos
L advar7ta-
geous. Tne Ci ty
al so t°eserves
the ri ght
to pl ace or i nves t
part c,r
ai 1 of anv
of its surplus or
excess funds
uutsicie t
he desiqnated dapon
itory, i
n any 1awful
manner as ma_y be
deteri»i~~ed by
the Cit.y
Council, fr°om tiw;
'o t'iw„w
t:hcoutahout:
the terni of the c
ontr•acz.
Ndil!e Of Ba11k Liberty AlationaZ £3ank in Paris
By,
Ti tl~ ;Pr_~~ f awn c
i
i tt' F'~~brudri) O, 1lt33