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withdrawn after five days notice to sucn Bank by the Director of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