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AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF DENTON DESIGNATING
A DEPOSITORY FOR CITY FUNDS FOR A TERM BEGINNING OCTOBER 1, 1987
AND ENDING SEPTEMBER 30, 1989, AND DECLARING AN EFFECTIVE DATE
WHEREAS, the City of Denton has notified all the banking insti-
tutions within the City of its intent to receive bid applications
for the custody of city funds for a term beginning on October 1,
1987, and ending on September 30, 1989, and
WHEREAS, the City of Denton has received bid proposals from
banking institutions within the City desiring to be designated as
a depository of city funds, and
WHEREAS, after such opening the City Council found on the basis
of the bid proposals that First State Bank of Denton, Texas has
submitted the proposal offering the most favorable terms and
conditions to the City for the handling of such funds, NOW,
THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF DENTON
SECTION I That First State Bank of Denton, Texas is hereby
selects an designated as the depository for city funds for a
term beginning on October 1, 1987, and ending on September 30,
1989
SECTION II That the proposal of said institution having its
office a—n3 pace of business in the City of Denton, Texas, shall
be attached hereto and made a part hereof, and the same is hereby
in all things accepted
SECTION III That this Ordinance shall be effective immedi-
ately from and after its passage and approval by the City Council
of the City of Denton
PASSED AND APPROVED this the /.Y�5day of September, 1987
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ATTEST
JE I ALTERS, SECRETARY
APP OVED AS TO LEGAL FORM
DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY
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