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RESOLU'I'ION N0. 1042 <br />WHEREAS, the City of Paris duly advertised for application for <br />City Depository in accordance with the provisions of Article 2559, <br />Revised Civil Statutes of Texas; and, <br />WHEREAS, the application of The Liberty National Bank in Paris <br />tivas duly f iled within the time prescribed, and contained the most <br />favorable terms and conditions for the handling of city funds; now, <br />therefore: <br />BE T_T RES OLVED BY THE C ITY C OUNC IL OF THE C iT~' OTi PAR IS : <br />l. That the application of The Liberty National Bank in Paris <br />for City Depository be approved and that said Bank be, and it is <br />hereby designated as City Depository for the City of Paris f'or the <br />ensuing two years, beginning March l, 1963, and ending February 28, <br />1965. <br />2. That W. A. Cawthon, Mayor of the City oi Paris, be, and he <br />is hereby authorized to execute a contract in behalf of said City <br />with said Banlc providing f'or the payment to the City oi Paris of <br />interest at the rate of 2/ per annum on tiMe deposits which may be <br />withdrawn after five days notice to sucn Bank by the Director of <br />Finance of the City of Paris. <br />3. i'hat said Bank shall qualify as City Depository by pledging <br />securities with the City ai Paris in accordan,ce with Section D of <br />Article 2560, Revised Civil Statutes of Texas, whicn securities <br />shall be deposited with the Director of Finance of the City of <br />Paris, and by him safely kept. All secu.rities pledged to the City <br />of Paris shall be approved by the City Council as required by lavr. <br />PASSED in regular meeting of the Gity Cou.ncil of the City of <br />Parzs, this the llth day of February, 1903, <br />ATTEST• <br />City Clerk <br />APPRQ D T F <br />~ ~`~~,t_t~~ - <br /> <br />City Attorney ~ <br />