849 RES COP ADVERTISED FOR APPLICATION FOR CITY DEPOSITORY• •
RESOL[TrION N0. 849
WHEREqS, the City of Parfs 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
was duly filed within the time prescribed, and contained the most
favorable terms and conditions for the handling of city funds; now,
therefore:
BE IT BESOLVED BY THE C TTY COUNCIL OF THE CITY OF PARIS:
1. That the application of The Liherty National Bank in Paris
for City Depository be approved and that said bank be, and it is here•-
by designated as City Depository for the City of Paris for the ensuin(
g
two years, beginning March 1, 1959, and ending February 28, 1961.
2. That Bobert McWhirtert Mayor of Lhe City of Paris, be, and
he is hereby authorized to execute a contract in behalf of said City
with said Bank providiny for the paymentto the City of Paris of in-
terest at the rate of per annum on time deposits which may be!
withdrawn after five days notice to such Bank by the Director of
Finance of the City of Paris.
3. That said Bank shall qualify as City Depository by pledging
securities with the City of Paris in accordance with Section D of
Article 2560, Revised Civil Statutes of Texas, which securities shall
be deposited with the Director of Finance of the City of Paris, and
by him safely kept. All securities pledged to the City of Paris ahall
be approved by the City Council as required by law.
PASSED in regular meeting of the City Council of the City of
Paris, this the day of F:ebrUqry, 1959.
.
Mayor +
a
ATTEST:
. ~
C ity lerk
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