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2013-004 RES ACCEPTING BID FROM LIBERTY NATIONAL BANK TO PROVIDE CITY DEPOSITORY SERVICES BEGINNING 03.01.13 THROUGH 02.28.15RESOLUTION N0. 2013-004 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, ACCEPTING THE BID FROM LIBERTY NATIONAL BANK, PARIS, TEXAS TO PROVIDE CITY DEPOSITORY SERVICES FOR THE PERIOD BEGINNI111G MARCH 1, 2013 AND ENDING FEBRUARY 28, 2015; AUTHORIZING THE EXECUTION OF A DEPOSITORY SERVICES AGREEEMENT WITH LIBERTY NATIONAL BANK; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the City of 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 1, 2013, and ending February 28, 2015, which bids were received until 3:00 o'clock P.M., Monday, January 7, 2013; and, WHEREAS, the best bid for City Depository was made by Liberty National Bank in Paris, and it should be awarded the contract for such depository; 1VOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS: Section 1. That the findings set out in the preamble to this resolution are hereby in all things approved. Section 2. That the bid of the Liberty National Bank. Paris, Texas to act as City Depository for the period beginning March 1, 2013, and ending February 28, 2015, be, and the same is hereby, accepted. Section 3. That the Mayor be, and he is hereby, authorized and directed to execute, on behalf of the City of Paris, a depository services agreement with Liberty National Bank, Paris, Texas to act as City Depository for the City of Paris upon the terms and conditions set out in that institution's bid, attached hereto as Exhibit "A" and the Depository Services Agreement to be executed by the Parties. Section 4. That this resolution shall be effective from and after its date of passage. PASSED AND APPROVED this 28th day of Ianuarv. 2013. A�rzEST: � f a ice Ellis, City Clerk APPROVED 0 FORM: —_ W. Kent Mc , City Attorney - - Oepository Agreement Corpparlscn CertiftwRes of Deooslt Under SiOD.000. Maturl g�g 26 wk T•bill plus 7-13 days 14-29 days 30�59 days 60-89 days 90-179 days 180-365 days Ceniflcates oi Deoosit Over S10D.000. 7-13 days lA-29 days 30�59 days 60-89 days 90•179 days 180-365 days Service Charges qberev Natlonal basls polrts 0 0 iQ 20 30 a5 0 0 io 20 30 45 none rtste 6uarontv eond 13 wk T bill plus basis potnts NA 7-29 days 0 0 15 20 25 NA 0 0 15 20 25 none Interest rate on Conwlidated Cash Acwunt 26 wk T bill auctlon rate 13 wk T biU +30 basts points 20 basis polnts Boor NOTYCE TO BANKING INSTITUTTONS WITHIN THE CITY OF PARIS Notice is hereby given that Governing Body of ttse City of Paris, su6ject to the provision of Chapters 105 and 131 of the Texas Locai Government Code, will receive bids and applications from all interested banking institurions within the City of Paris to serve as pame depository of the City of Paris and maintain custody of the funds of the City for a period of two ycais from March l, 2013 through February 28. 241 S. Any such application shall bc delivered tv the o�i'ice of the City Manager located in City Hall prior to 3:00 P. M.. Friday January 7, 2013. It is roquired that each b�nk bid by filling in all blanks and agreeing to the following specifications: Bank will pay to City interest on time dcposits in accordance with the following schedule: MATURITY 7-13 days I4-29 days 30-59 days b0-89 days 90-179 days t80-365 days 7-13 days 1429 days 30-59 days 60-89 days 40-179 days 180-365 days CERTIFICATES aF DEPOSIT UNDER $100,000 RATE T bitl plus or minus 0 basis points T-bill plus or minus o--- basis points T-bitl plus or minus 10 basis points 1'-bill plus or minus �� basis points T•bill plus or minus 30 basis points T-bill plus or minus 45 basis points CERTIFICATES OF DEPOSIT OVER $100,000 T bill plus or minus o basis points T bill plus or minus o basis points T-bill plus or minus 10 basis points T-bill plus or minus 20 basis points T-bill plus or minus 3o basis points T-bill plus or minus 45 basis points All investment services offercd to othcr bank cUStomers wili bc available to thc City. The Cit}� wilt accept bids only on the basis herein atier described. Each day, the Wall Street Journal publishcs the 26 week tressury-bill yield based on the results of the most recent treasiuy-bill auction. Rates for certificates of deposit undcr this contract must bc tied tv this 26 week treasury-bill yicld. The rates should be quoted either plus or minus a gtven number of basis poirtts from this 26 wcek trcasury-bill yield. Using the Wall Strcct )oumal dated the same day as the certificate af depos�t is purcheaed, the certificate of deposit rate will be the 26 wcck T-bill ratc published that day in the Wall Stc+eet Journal plus or minus the basis points listed above. CHARGES List below any service charges thst will be levied sgainst the City: NONE In addidon to the nonnal services and supplies furnished by the dcpository banlc, the foilowing services are standard and cvmmon to most dcpository contracts. They are to 6e furnished to thc City at no charge: deposit slips one large safe deposit box coin wrappers night ckpository �ervice including bags and keys travelcr's and cashier's clzecks daily balance on each accowtt money Qrders slop paymcnt orders W1iC SCNICCS checking and savings accounts all bank accounts will be interest bcaring accounts on line banking overdraft protcction Bidden arc requested to submit a list of any furiher conccssions or services in tbe space pravided below which they may want to offer to thc City ef Paris and make any commen� as finther consideration in selecting tbe City's dcpository. If necded� please add additional pages. Bank will pay interest on the City's Consolidated Cash Account at a rate equivalent to the auction rate for 26-week Treasury Bills plus 30 basis points. The rate will be changed each calendar quarter and wil� be calculated ueing the most recent Treasury Bill suctian. Using Che most recent Treasury Bill auction a rate of .43X would result. Upon notification to Bank, the City of Paris would have the option to bring other City transaction accounts under a rate plan paying the auction rate for 26-week Treasury Bills plus 10 basis points. Using the most recent Treasury Bill auction a rate of .23Z would result. Bank will origlnate City's ACH payments, both debits and credits, without charga. Bank will furnish to City without charge at the end of each year CD's containing a aummarY of each transaction account activity All monies whiah are deposited into the depositary undcr the ptovisions of this proposal shall be corninuously sexured, in accardance with the laws of the State uf Texas applicabie thercto, by a valid ptedge of par� exclusive of accrucd intcrest, at all rimes at least equal to 102% of the amount of moncy on deposit in said several funds on dcposit in the depository. All time deposits or certificates of deposits which have not elagscd on ttie termination date of the finally approved depository contract, sha!) �emain on dcposit with the same depositary under the same terms and conditians in effect during said cantract until the date such timc doposits have elapsed, Funds finm Bond sales may be deposited in the Ciry depository oc placed in outside ipvestrnents. The Ciry of Paris reserves the right to accept ar reject any or all bids, to waive formalities, and to accept the bid the City considers the most advantageous. The City also rescrves the right to place or invest part or all of its surplus or excess funds vutside the designated depository, in any manner permitted by law, fmm time to time throughout the term of the c�ntract. The undersigned bank official represents that he is authoriud by the Bank's Bo�rd of Directors to sign this document and legally obligate the Bank ta the tcrms stated in this agreemcnt. NAME OF �ANK Liberty National Bank BY: ° " r2. e..`_",�.p P ilip R. Cecil T'ITLE: j`hairman DATE: January 7 , 2013 a / � ! � • / ., January 4, 2013 Paris City Council 1351� St SE Paris, TX 75460 Re: Bid to Seroe as Depository for City of Paris Gentlemen: Guaranty Bond Bank opened its doors for business in 1913. Through the years we have experienced tremendous g�owth along with many changes in the banking industry. Although some things have changed, our foundation and guiding principles have not. Our commitment to integrity, community (nvolvement, and progressive leadership continue to provide strength and stability to our customers. Currentiy, Guaranty Bond Bank is the depository for more than 60 public entities. We have an extensive history of helping numerous independent school districts, cities, and counties maximize their financial needs through a variety of products and services. We also understand the difficult challenge of balancing day-to-day business aperations and keep(ng up with changes in technology that allow you� business to operate efflciently. In an efFort to make things simple and cflnvenient for you, our staff is available ta come to your business and assist you in implementing any of the following products and seroices: Dirett Deposit, Unbelievably FREE Checking for your business and your employees, Online Banking, Commercial Cash Management, Positive Pay Services and Remote Deposit Capture. Our goal is to provide you with the products and services you . need to save time and moneyt Enclosed you will find our bid package including all support documents. Please note this proposal is valid for 180 days from the submission date.lNe appreciate the opportunity to bid on your depository accounts and look forward to helping you reach your financial goals. We are committed to providing an experience that inspires loyalty and trust. If you have any questions, please call me at (903)784-4100. Respectfully sy�mitted, President — ParisV 3250IamarAvenue • Paris,Texas 75460 � Phone (903) 784-41Od • Fax (903) 784-6409 www.gnty.com NOTICE TU BANKING INSTITUTIONS WITHIN THE CITY OF PARIS Notice is hereby given that Governing Body of the City of Paris, subject ta the provision of Chapters l05 and 131 of the Texas Local Government Code, will receive bids and applications from all interested banking institutions within the City of Paris to serve as prime depository of the City of Paris and maintain custody of the funds of the City for a period of two years from Mazch 1, 2013 through February 28, 24l 5. Any such application shall be delivered to the office of the City Manager located in City Hai1 prior to 3:40 P. M., Friday January 7, 2013. It is required that each bank bid by filling in all blanks and agreeing to the foliowing specifications: Bank will pay to City interest on time deposits in accordance with the following schedule: MATURITY 7-13 days 14-29 days 30-59 days 60-89 days 90-179 days 180-3b5 days 7-13 days 14-29 days 30-59 days 64-89 days 40-179 days 180-365 days CERTIFICATES OF DEPOSTT UNDER $100,000 ;f-7:�� T-bill plus or minus basis points T-bill plus or minus basis points T-bill plus or minus basis points T-bill plus or minus basis points T-bill plus or minus basis points T-bill plus or minus basis points CERTIFICATES OF DEPOSIT OVER $1Q0,040 T-bill plus or minus basis points T-bill plus or minus basis points T-bill plus or minus basis points T-bill plus or minus basis points T-bill plus or minus basis points T-bill plus or minus basis points All investment services offered to other bank customers will be available to the City. Thc City �vit! accept bids onty on the bASis lierein aftcr described. See Attachment A See Attachment A Each day, the Wall Street Journal publishes the 26 �veek treasury-bill yield based �n the results of the most receni treasury-bill auction. Rates for certificates of deposit under this contract must be tied to this 26 week treasury-bill yield. The rates should be quoted either plus or minus a given number of basis points from this 2b week treasury-bill yield. Using the Wall Street Journal dated the same day as the certificate of deposit is purchased, the certiftcate of deposit rate will be the 26 week T-bill rate published that day in the Wall Street Joumal plus or minus the basis points listed above. 0 0 � Te�m Inte�est Bearing Checking Accounts: Money Market Accounts: CD 7 - 29 Days CD 30 - 59 Oays CD 60 - 89 Days CD 90 -179 Days CO 180 - 3b4 Days CO 365 Days or more Initlai Rate o.io% 0.10% 4.10% 0.10% 0.2590 0.3096 0.35% o.ao% Attachment A Basfs potnt spread over (+j under(-j T-8il) "asked" yield 13 wk T-Bill + 0.0096 13 wk T-Bill + 0.009b f3 wk T-Biil + 0.00% 13 wk T-Bill + 0.0096 13 wk T-Bill + 0.1590 13 wk T-Bill + 0.20% 13 wk T-Bill + 0.2596 13 wk T-Bill + 0.30% Floor o.io% 0.10% 0.30% 0,10% 0.25% 0.30�'0 Q.35% 0.40% Cetling N/A N/A N/A N/A N/A NJA N/A N/A Maximum Aggregate Investment Included eelow Included Below Included Below Included eelow Included Below Included eelow Included Below Included Below TBD � CHARGES List below any service charges that will be levied against the City: In addition to the normal services and supplies furnished by the depository bank, the following services are standard and common to most depository contracts. They are to be furnished to the City at no charge: deposit slips one large safe deposit box coin wrappers night depository service including bags and keys traveler's and cashier's checks daily balance on each account money orders stop payment orders wire services checking and savings accounts all bank accounts will be interest bearing accounts on tine banking overdraft protection Bidders are requested to submit a list of any further concessions or services in the space provided below which ihey may want to offer to the City of Pazis and make any comment as further consideration in selecting the City's depository. If needed, please add additional pages. All monies which are deposited into the depository under the provisions of this proposal shall be continuously secured, in accordance with the laws of the State of Texas applicable thereto, by a valid pledge of par, exclusive of accrued interest, at all times at least equal to 102% of the amaunt of money on deposit in said severa! funds on deposit in the depository. All time deposits or certificates of deposits which have not elapsed on the termination date of the finally approved depository contract, shal! remain on deposit with the same depository under the same terms and conditions in effect during said contract until the date such time deposits have elapsed. Funds &om Bond sales may be deposited in the City depository or placed in outside investments. The City of Paris reserves the right to accept or reject any or all bids, to waive formalities, and to accept the bid the City cvnsiders the most advanta�eous. The City also reserves the right to place or invest part or all of its surplus or excess funds outside the designated depository, in any manner permitted by law, from time to time throughout the term of the contract. The undersigned bank official represents that he is authorized by the Bank's Boazd of Directors to sign this document and legally obligate the Bank to the terms stated in this agreement. NAME OF BANK: Guaranty Bond Bank BY: Kenny Dority TITLE: President DATE: January 4, 2013 Attachment B `t!"6`'4 .}. �: tt.e,.,_�s - .r _.E r - - - -°._. .,�::a.,,.. - - We Make Things f�ee and Easy For You With Unbelie�ably fREE Business Checking you will enjoy... f No Monthly Service Fee � No Minimum Monthiy Balance �' Unlimited Transactions Per Month y Check Images (included with each statementj FREf Online Banking & Commercial Cash Management allows you to... �' Check Account Balances � Search Transactivn History (including chetk images) y Transfer funds Between Accounts f� Pay Bills Online � Originate ACH Files (including payroil direct deposit) � Originate Wire Transfers � Receive E-Alerts �' Receive E-Statements (available on the first of each monthj � Download Account Information FREE Positive Pay Services keep you i�formed and secure by... � Providing Automated Fraud Detection Tools �' Allowing you to proactively defend against losses and liability y Notifying you when checks presented for payment are not listed in your history files �' Allawing you to make the decision ta pay or retum exceptions Guaranty Remote Deposit impraves your business by allowing you to... � Deposit checks right from your desktop eliminating the need to go to the bank y Extend deposit cut-off time to 4:30 p.m. f Accelerate availability of funds �' Speed up check return notification