518 RES COP ADVERTISED FOR APPLICATION FOR CITY DEPOSITORY• OL
RESOLUfION N0. %1 8
WHEREAS, the City of Paris duly advertised !or application
for City Depository in accordance with the provisions of Article
2559, Revised Civil Statutes of Texas; and,
t#EiEREAS, tti• application o`f The Liberty National Bank in
Paris was duly filed within the timo preseribed end eontained the
most iavorable terms and conditions for the handling of eity fuiads;
now, therefore,
BE IT RESOLVED BY INE CITY COUNCIL OF THE CITY W" PARIS:
l. 1'hat the appliaation of The Liberty National Bank fn
Paris !or City Depository be app'oved and that said
bank be, and it is hereby designated as City Depositor;y
ior the City of Psris for the easning two yeers beqisn--
ing May 8, 1952, ana ending Wlay 7. 1954.
2. That J ^I,n 4', ri1 ? i&,m:.-., Jr . , Mayor of the City of
Paris, a, an e s ere y authorized to execate a
contract in behalf of said City a►ith said Bant pro-
vidinq for the payeient to the Citq of Paris of iaterest
at the rate of one per eent (lap per annum oa time
deposits which may be withdrewn a`iter five (5) days
notice to such Bank by the Direc~;,ax o~' Finance of the
City of Paris. ~3. That said bank sbA't qualify as City Depository by
p2edging securities with the City of Paris ia accordance
with Section D eUSrticle 2560* Revisea Cfvil Stetntes
if Texas* which secarities shall be deposited with the
Directar of Fieance of the City of Paris and by hi.m sa:te-
ly kept. All s*carities pledged to the City of Paris
• shall bc a@proved by the City Council as reqnired by
law.
Passed in regulac meeting of.the City Council of the City of Paris,
this the day of G4j--c-~. . A. D. 1952.
r
ATTES'f :
7
cicy clerk