1991-149g \ pdocs\deposito
ORDINANCE NO _Ll::~6
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF DENTON DESIGNATING
DEPOSITORIES FOR CITY FUNDS FOR A TERM BEGINNING OCTOBER 1, 1991
AND ENDING SEPTEMBER 30, 1993
WHEREAS, the City of Denton has notified all the banking in-
stitutions within the City of its intent to receive bid applica-
tions for the custody of city funds for a term beginning on October
1, 1991, and ending on September 30, 1993, and
WHEREAS, the City of Denton has received bid proposals from
banking institutions desiring to be designated as the prime de-
pository for both operations and payroll accounts and standard
banking services as requested in the proposal, 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, and
WHEREAS, the City of Denton desires to maintain banking re-
lations with the following institutions and to name those insti-
tutions as additional depositories for the City of Denton
Bank One, Denton
Bank One, Dallas
NCNB, Fort Worth
NCNB, Dallas
North Texas Savings, Denton
Team Bank, Fort Worth,
NOW, THEREFORE, THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS
SECTION I That First State Bank of Denton, Texas is hereby
selected and designated as the primary depository for operations
and payroll accounts and banking services beginning October 1,
1991, and ending September 30, 1993
SECTION II That the proposal of said institution having its
office and place 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 Bank One, Denton, Bank One, Dallas, NCNB,
Fort Worth, NCNB, Dallas, North Texas Savings, Denton, Team Bank,
Fort Worth are hereby designated as depositories for the City of
Denton, in accordance with the terms of the applications submitted
and on file in the office of the City Secretary and Treasurer
SECTION IV That the following officials, Lloyd V Harrell,
City Manager, Rick Svehla, Deputy City Manager, John F McGrane,
Executive Director of Finance, Kathy Dubose, Controller, and Harlan
Jefferson, Treasurer, are hereby authorized to transact business
with the above listed institutions regarding daily banking trans-
actions or investments for the City of Denton
SECTION V That this Ordinance shall be effective immediately
from and after its passage and approval by the City Council of the
City of Denton
PASSED AND APPROVED this the Z/ day of , 1991
ATTEST
JENNIFER WALTERS, CITY SECRETARY
BY
APPR ED A O LEGAL FORM
DEBRA A DRAYOVITCH, CITY ATTORNEY
Page 2