1989-1272781L
NO $9 / z7
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF DENTON DESIG-
NATING DEPOSITORIES FOR CITY FUNDS FOR A TERM BEGINNING OCTOBER
1, 1989 AND ENDING SEPTEMBER 30, 1991
WHEREAS, the City of Denton has notified all the banking
institutions within the City of its intent to receive bid ap-
plications for the custody of city funds for a term beginning on
October 1, 1989, and ending on September 30, 1991, and
WHEREAS, the City of Denton has received bid proposals from
bankin institutions within the City desiring to be designated as
the prime depository for both operations and payroll accounts and
standard banking services as requested in the proposal,
WHEREAS, after such opening the City Council foun , on the
basis of the bid proposals, that. of
Denton, Texas has submitted the proposa o er ng t e most
favorable terms and conditions to the City for the handling of
such funds, and
WHEREAS, the City of Denton desires to maintain banking
relations with the following institutions and to name those
institutions as additional depositories for the City of Denton,
North Texas Savings Association, Denton
Denton Federal Savings Association, Denton
Bank One, Denton
Bank One, Dallas
NCNB Texas, Dallas
NCNB Texas, Ft Worth
First City Bank, Austin,
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
DENTON
Section I That ~qya A 1~~.& of
Denton, Texa~Tiereby selected and designated as the primary
depository for operations and payroll accounts and banking
services beginning October 1, 1989, and ending September 30,
1991
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 North Texas Savings Association, Denton,
Denton Federal Savings Association, Denton, Bank One, Denton,
Bank One, Dallas, NCNB Texas, Dallas, NCNB Texas, Ft Worth, and
First City Bank, Austin are hereby designated as depositories
for the City of Denton, in accordance with the terms of the
applications submitted and on file in the off3.ce of the City
Secretary and Treasurer
Section IV That the following officials.,Lloyd V Harrell,
City ana3 ger, Rick Svehla, Deputy City Manager, John F McGrane,
Executive Director of Finance, Monte Mercer, Controller, and Jim
L Bunyard, 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 immedi-
ately roam and-after its passage and approval by the City Council
of the City of Denton
PASSED AND APPROVED this the /Qtk day of September, 1989
ATTEST
JENNIFER WALTEKS~ UUrl'Y SECRETARY
~ _
RAY S VP ENS, MAYOR
APPROVED AS TO LEGAL FORM
DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY
BY
PAGE 2
IN THE MATTER OF
CITY OF DENTON
I
HE STATE OF TEXAS Fred W Patterson
County of Denton
being duly sworn, says he is the Assts4eirt Publisher of the Denton Record-Chronicle, a
newspaper of general circulation which has been continuously and regularly published
for a period of not less than one year in the County of Denton, Texas, preceding the date
of the attached notice, and that the said notice was published in said paper on the follow
ing dates September 22, 1989
OFFICIAL NOTICE OF SALE CITY OF DENTON, TEXAS UTILITY SYSTEM REVENUE BONDS
SERIES 1989
58 Lines $34 80
ECT7Y J R T ofIE
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Subscribed and sworn Co before me this AA28 day of -September ,19 89
r f
Witness my hand and official seal e
Notary Public, Denton County, Texas
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CITY OF DENTON, TEXAS
OFFICIAL APPLICATION FORM
Proposal for City Depository or Depositories and Banking Services Agreement
City of Denton, Texas
Gentlemen
Subject to the terms of the proposal for City depository and Banking
Services Agreement, the undersigned a banking corporation, association or
individual banker doing business within the City of Denton, Texas, submits the
following bid for the privilege of acting as City Depository for the City of
Denton, Texas, for the two-year period beginning October 1, 1989 and ending
September 30, 1991 in accordance with the laws of Texas, the Charter, and
various Ordinances of the City of Denton, Texas
1 Interest Rates to be Paid on Single Maturity Time Deposits
(Certificates of Deposit)
The interest rate indicated is fixed for the term of the Certificate of
Deposit and is related to the Treasury Bill yield with the closest maturity
date to the CD maturity date as reported by the wall Street Journal, on the
day of the CD purchase (See attached example October 25th yield 8 148 )
A Deposits of $100,000.00 or more
Maturity Interest Rate
7 -13 days 0 basis points above/below Treasury Bill Yield
14- 30 days 0 basis points above/below Treasury Bill Yield
31- 59 days 0 basis points above/below Treasury Bill Yield
60- 89 days 0 basis points above/below Treasury Bill Yield
90-179 days 0 basis points above/below Treasury Bill Yield
180-364 days 0 basis points above/below Treasury Bill Yield
365 days 0 basis points above/below Treasury Bill Yield
or more
*In no event shall the interest rate on single maturity time deposits of
$100,000 00 or more be less than 5J 8 during the term of depository and
banking services agreement
B Deposits of less than $100,000.00
Maturity Interest Rate
7- 13 days 0 basis points above/below Treasury Bill Yield
14- 30 days 0 basis points above/below Treasury Bill Yielc
31- 59 days 0 basis points above/below Treasury Bill Yield
60- 89 days 0 basis points above/below Treasury Bill Yield
90-179 days 0 basis points above/below Treasury Bill Yield
180-364 days-0 basis points above/below Treasury Bill Yield
365 days 0 basis points above/below Treasury Bill Yield
or more
(Subject to existing or future regulations)
DEPOSITORY AGREEMENT PAGE 1 OF 7
*In no event shall the interest rate on a single maturity time deposits of
less than $100,000 00 be less that 5L_B during the term of the depository
and banking services agreement
2 Repurchase Agreements
The undersigned (Bank) agrees to sell those U S securities in which the
City can legally invest its excess demand deposit balances to the City on or
before 2 00 p m each regular day of City's business to provide overnight and
weekend investments to the City through the use of "Repurchase Agreements,"
and simultaneously with the sale agrees to repurchase on or before 2 00 P M
on the agreed upon date the same securities at the same price as sold with
interest calculated on the invested amount Bank holidays falling on Friday
or Monday will be included in the weekend "Repurchase Agreement" and the
interest calculation for a weekend "Repurchase Agreement," including a bank
holiday, will be on the invested amount
Interest earning resulting from each repurchase agreement shall be paid to
the City on the day of maturity by providing deposit slips showing each
account and the amount of interest deposited to the account The undersigned
agrees to pay the City interest on each repurchase agreement at the rate of
not less than * basis points above/below the Treasury Ball Yield as
reported by the Wall Street Journal, in effect on the date that the repurchase
agreement is executed The City reserves the right to enter into repurchase
agreements for periods not exceeding 30 days
3. Interest Rate on Bank Loans to City
Loans will be made to the City at the fixed rate of % per annum or at
a variable rate of basis points above/below the bank's base rate to pay
current operating expenditures as may be required by ordinance with such loans
to be repaid out of the first current tax collections, or to pay non-operating
expenditures and/or purchase equipment or other expenditures as may be
required by ordinance with such loans to be repaid on a scheduled basis as
agreed to by the City and by the bank (The City has not borrowed funds in
the past but relies on this as a contingency source of funds )
4 Interest on Demand Accounts
(NOW, Super-NOW or Money-Market Accounts)
The undersigned agrees to pay to the City a variable interest rate on
minimum demand account balances as outlined in the attached schedule in
accordance with current banking practice and rules However, the undersigned
agrees that the minimum rates on these accounts shall never be less than 5L8
* Not less than 200 basis points below 30 day T Bill rate
First State Bank base rate
DEPOSITORY AGREEMENT PAGE 2 OF 7
For purposes of this contract, an overdraft in any of the demand accounts
shall be defined as a deficit in one or more accounts which exceeds the
balances in the other demand accounts on a aggregate basis The parties agree
that no interest shall be paid the City on the account which has been
overdrawn for th period of the deficit, however, so long as the aggregate
total of all demand accounts are positive no interest shall be charged the
city on the individual account which is overdrawn In the event of an
aggregate deficit in the demand accounts the undersigned will charge FSB Base Rate
basis points above/below the banks current lending base rate
The city will have the right to invest funds in other financial
institutions or securities permissible under State law
5 Bank Services To Be Provided Fee for Service
A Provide complete investment service including
assistance in acquiring investments securities,
counseling, and safekeeping service for securities
owned $ None
B Provide bank money orders, travelers' checks and
cashier's checks as required by the City $ None
C Supply voucher checks and payroll checks according
to quantity quality, design and specifications
established by the City (Approximately 20,000
voucher checks per year and approximately
24,000 payroll checks per year ) $ At Bank's Cost
D
Supply deposit slips according to quantity,
quality, design, and specifications established by
the City Deposited items 340,000 (checks)
$
At Bank's Cost
E
Provide night depository keys and locking
depository bags, as necessary
$
None
F
Clear all insufficient funds checks twice before
charging them to the applicable City bank account
and returning them to the City
$
None
G
Provide stop payment services
$
None
H Provide wire transfer services for both deposits
and disbursements It is understood that the City
of Denton uses the wire transfer service as a
means of accelerating various types of payments
(such as TMPA payments, bond debt service and
security purchases) $ None
1 Provide customary demand deposit account service
and provide monthly bank statement on each account
within five (5) working days of closing date
Statements are to reflect transactions beginning
with the first day of the month Cancelled checks
are to be returned in numerical sequence $ None
j Provide daily collected balances and ledger
balances by telephone upon request $ None
DEPOSITORY AGREEMENT PAGE 3 OF 7
K Provide immediate credit on the same day as
deposits occur (holidays and weekends excepted)
This includes same day credit on wire transfers of
funds from the Federal and State Governments, and
same day credit on warrants issued by the State
Comptroller received prior to 2 00 P M $ None
L Provide remittance service to various paying
agents for required City principal and/or interest
payments on bonds *(None, other than charge from
the paying agent ) $ None
M Monitor City investment securities held by
depository bank to provide same credit to the
appropriate City account(s) automatically upon
maturities, and provide deposit slips at maturity
dates $ None
N Provide list of all certificates of deposits held
by the City on the last day of the month
0 Provide foreign and domestic exchange services
*(None, other than charges from correspondent
banks.)
P Provide coin wrappers and accept bulk coins for
deposits
Q Provide safe deposit boxes to maintain storage for
financial data retained on computer diskettes
(lOxlOx30 inches - Maximum of two boxes)
None
$ None
$ None
None
6. Deposits Security
The undersigned shall furnish to the City pledged securities as provided
by the laws of Texas (Article 2560, Revised Civil Statutes of Texas, as
amended) Securities pledged shall at all times have a market value of
to the total amount of the City's monies on deposit with the depository bank
it is further provided that no reduction or substitution of securities pledged
shall be made without the prior approval of the City's Executive Director of
Finance, or Treasurer, in writing The bank shall provide the City with
report of securities pledged at the end of each month
reflect the following
Total Pledge Securities by
Name
Type/Description
Par Value
Market Vale at Month bnd
Maturity Date
Safekeepina Bank
This report should
The securities pledged shall be held in safekeeping by a separate and
different bank other than the depository bank and the safekeeping bank or
banks will be listed as to the pledged securities held on behalf of the City
DEPOSITORY AGREEMENT PAGE 4 OF 7
7 Safekeeping
The depository shall keep safely all monies of the City and pay the same
over as directed The term "money" as contained in this agreement shall be
construed to be all cash, securities, investments, trust funds, or any other
funds that may lawfully come into the depository's possession
The City hereby expressly reserves the right to withdraw any amount of
its funds that are deposited in the Depository Bank that are not required
immediately to pay obligations for the purpose of investing those funds in
securities as specified under state law
8 Other Stipulations
A The successful bidder or bidders will notify the City in writing
within ten (10) days of any changes in Federal or State Regulations
or laws that would thereafter accept the depository agreement
B Notification of wire transfers shall be made within one hour of the
transaction and a duplicate copy furnished to the City within
twenty-four (24) hours
C The Bank's records relating to the City of Denton accounts shall be
open to review by either City staff or City appointed independent
auditors
D The proposing bank shall submit a copy of the last annual financial
statements and subsequent quarterly call reports along with an annual
year end Uniform Bank Performance Report
9 Joint or partnership bids (other than members of the same holding
company) will not be considered
10. The City reserves the right to reject any and all bids and to waive
irregularities
Frank W. Steele
BY
TITLE President
JLB of
47741
8/22/89
DEPOSITORY AGREEMENT PAGE 5 OF 7
FISCAL YEAR 1989 PERIOD ENDING JUNE 30, 1989
INSTITUTION
ADDRESS
First State Bank of Denton
101 S Locust, P 0 Box 100, Denton
PHONE # (817) 382-5421
PRIMARY
RETURN
RETURN
LOAN
TOTAL CAPITAL
ON
ON TOTAL
LOSS TOTAL
ASSETS RATIO
EQUITY
ASSETS LOANS
RESERVE DEPOSITS
1_3 2 7 13. 541 6,3 .EL~
-Uj j%
-Aj5% $_158. 2()S,166 $
9 654 .975 5_11 1_, 1 703
Please furnish a copy of July 1989 call report and a copy of the latest Annual Stockholders Report
Additional Comments that you would like to make regarding your bank
DEPOSITORY AGREEMENT PAGE 6 OF 7
special services that can be offered
computer Access to Accounts Yes L1 No
Comments Via Powerline system as previously demonstrated
Mastercard/visa Services
Comments
Yes L_ INo
Lock Box LX,Yes L_~INo
Comments regarding frequency and daily reporting to the city
Via Powerline system as previously demonstrated
Account Analysis
Comments
LXYes 11No
Control Concentration Account/Sweep Account
Comments As in the past
Additional pages may used if necessary
P/Yes L_JNo
4774E
DEPOSITORY AGREEMENT PAGE 7 OF 7
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CITY OF DENTON, TEXAS I KI CCn111989
OFFICIAL APPLICATION FORM
Proposal for City Depository or Depositories and Banking Services Agreement
City of Denton, Texas
Gentlemen
Subject to the terms of the proposal for City depository and Banking
Services Agreement, the undersigned a banking corporation, association or
individual banker doing business within the City of Denton, Texas, submits the
following bid for the privilege of acting as City Depository for the city of
Denton, Texas, for the two-year period beginning October 1, 1989 and ending
September 30, 1991 in accordance with the laws of Texas, the Charter, and
various Ordinances of the City of Denton, Texas
1 Interest Rates to be Paid on Single Maturity Time Deposits
(Certificates of Deposit) See Appendix A(1)
The interest rate indicated is fixed for the term of the Certificate of
Deposit and 1s related to the Treasury Bill yield with the closest maturity
date to the CD maturity date as reported by the Wall Street Journal, on the
day of the CD purchase (See attached example October 25th yield 8 148 )
A Deposits of $100,000.00 or more
Maturity Interest Rate
7 -13 daysLbasis points abomaVbelow Treasury Bill Yield
14- 30 daysObasis points abocvraVbelow Treasury Bill Yield
31- 59 days basis points a&awts/below Treasury Bill Yield
60- 89 days50 basis points a&amra/below Treasury Bill Yield
90-179 days 50 basis points abovtaVbelow Treasury Bill Yield
180-364 days 50 basis points ab7fOWbelow Treasury Bill Yield
365 days 50 basis points aif0*0Vbelow Treasury Bill Yield
or more
*In no event shall the interest rate on single maturity time deposits of
$100,000 00 or more be less than 4 5 8 during the term of depository and
banking services agreement
B Deposits of less than $100,000 00
Maturity Interest Rate
7- 13 days50 basis points aU0V%Vbelow Treasury Bill Yield
14- 30 days50 basis points aboacva/below Treasury Bill Yield
31- 59 days50 basis points abov*/below Treasury Bill Yield
60- 89 days50 basis points arbxm/below Treasury Bill Yield
90-179 days50 basis points aUXM/below Treasury Bill Yield
180-364 days50 basis points "Jbelow Treasury Bill Yield
365 days 30 basis points oftyk/below Treasury Bill Yield
or more
(Subject to existing or future regulations)
DEPOSITORY AGREEMENT PAGE 1 OF 7
*In no event shall the interest rate on a single maturity time deposits of
less than $100,000 00 be less that 4.5 8 during the term of the depository
and banking services agreement
2 Repurchase Agreements See Appendix A(2)
The undersigned (Bank) agrees to sell those U S securities in which the
City can legally invest its excess demand deposit balances to the City on or
before 2 00 p m each regular day of City's business to provide overnight and
weekend investments to the City through the use of "Repurchase Agreements,"
and simultaneously with the sale agrees to repurchase on or before 2 00 P M
on the agreed upon date the same securities at the same price as sold with
interest calculated on the invested amount Bank holidays falling on Friday
or Monday will be included in the weekend "Repurchase Agreement" and the
interest calculation for a weekend "Repurchase Agreement," including a bank
holiday, will be on the invested amount
Interest earning resulting from each repurchase agreement shall be paid to
the City on the day of maturity by providing deposit slips showing each
account and the amount of interest deposited to the account The undersigned
agrees to pay the City interest on each repurchase agreement at the rate of
not less than 150 basis points *,p,}Wbelow the Treasury Bill Yield as
reported by the Wall Street Journal, in effect on the date that the repurchase
agreement is executed The City reserves the right to enter into repurchase
agreements for periods not exceeding 30 days
3 Interest Rate on Bank Loans to City See Appendix AM
Loans will be made to the City atxkb*xAjxs4xRAAAxRjfxxxxXx*1 (WAw"9(1"*0
Denton Office
a variable rate of ~ysxBxX~AWtNiHCxadMtV~/dk9t3R+~ the bank's/base rate to pay
current operating expenditures as may be required by ordinance with such loans
to be repaid out of the first current tax collections, or to pay non-operating
expenditures and/or purchase equipment or other expenditures as may be
required by ordinance with such loans to be repaid on a scheduled basis as
agreed to by the City and by the bank (The City has not borrowed funds in
the past but relies on this as a contingency source of funds )
4 Interest on Demand Accounts
(NOW, Super-NOW or Money-Market Accounts)
The undersigned agrees to pay to the City a variable interest rate on
minimum demand account balances as outlined in the attached schedule in
accordance with current banking practice and rules However, the undersigned
agrees that the minimum rates on these accounts shall never be less than 1 8
DEPOSITORY AGREEMENT PAGE 2 OF 7
For purposes of this contract, an overdraft in any of the demand accounts
shall be defined as a deficit in one or more accounts which exceeds the
balances in the other demand accounts on a aggregate basis The parties agree
that no interest shall be paid the City on the account which has been
overdrawn for th period of the deficit, however, so long as the aggregate
total of all demand accounts are positive no interest shall be charged the
City on the individual account which 1s overdrawn In the event of an
aggregate deficit in the demand accounts the undersigned will charge
Denton off IF
pod Hm)abovw,6ba~,1= the banks/current en xng base rate
The City will have the right to invest funds in other financial
institutions or securities permissible under State law
5 Bank Services To Be Provided
Fee for Service
A Provide complete investment service including
assistance in acquiring investments securities,
counseling, and safekeeping service for securities
owned $ See Appendix B
B Provide bank money orders, travelers' checks and
cashier's checks as required by the City $ None
C Supply voucher checks and payroll checks according
to quantity quality, design and specifications
established by the city (Approximately 20,000
voucher checks per year and approximately
24,000 payroll checks per year ) $ 12,000
D Supply deposit slips according to quantity,
quality, design, and specifications established by
the City Deposited items 340,000 (checks) $ None
E Provide night depository keys and locking
depository bags, as necessary $ None
F Clear all insufficient funds checks twice before
charging them to the applicable City bank account
and returning them to the City $ None
G Provide stop payment services $ None
H Provide wire transfer services for both deposits
and disbursements It is understood that the City
of Denton uses the wire transfer service as a
means of accelerating various types of payments
(such as TMPA payments, bond debt service and
security purchases) $ See Appendix C
I Provide customary demand deposit account service
and provide monthly bank statement on each account
within five (5) working days of closing date
Statements are to reflect transactions beginning
with the first day of the month Cancelled checks
are to be returned in numerical sequence $ 0 025 per item
j Provide daily collected balances and ledger
balances by telephone upon request $ See Appendix C
DEPOSITORY AGREEMENT PAGE 3 OF 7
K Provide immediate credit on the same day as
deposits occur (holidays and weekends excepted)
This includes same day credit on wire transfers of
funds from the Federal and State Governments, and
same day credit on warrants issued by the State
Comptroller received prior to 2 00 P M $ See Appendix C
L Provide remittance service to various paying
agents for required City principal and/or interest
payments on bonds *(None, other than charge from
the paying agent ) $ None
M Monitor City investment securities held by
depository bank to provide same credit to the
appropriate City account(s) automatically upon
maturities, and provide deposit slips at maturity
dates $ None
N Provide list of all certificates of deposits held
by the City on the last day of the month
0 Provide foreign and domestic exchange services
*(None, other than charges from correspondent
banks )
P Provide coin wrappers and accept bulk coins for
deposits
Q Provide safe deposit boxes to maintain storage for
financial data retained on computer diskettes
(lOxlOx30 inches - Maximum of two boxes)
$ None
$ None
$ None
$ None
6 Deposits Security See Appendix A(6)
The undersigned shall furnish to the City pledged securities as provided
by the laws of Texas (Article 2560, Revised Civil Statutes of Texas, as
amended) Securities pledged shall at all times have a market value of 1028
to the total amount of the City's monies on deposit with the depository bank
It is further provided that no reduction or substitution of securities pledged
shall be made without the prior approval of the City's Executive Director of
Finance, or Treasurer, in writing The bank shall provide the City with
report of securities pledged at the end of each month
reflect the following
Total Pledge Securities by
Name
Type/Description
Par Value
Market Vale at Month End
Maturity Date
Safekeeping Bank
This report should
The securities pledged shall be held in safekeeping by a separate and
different bank other than the depository bank and the safekeeping bank or
banks will be listed as to the pledged securities held on behalf of the City
DEPOSITORY AGREEMENT PAGE 4 OF 7
7 Safekeeping
The depository shall keep safely all monies of the City and pay the same
over as directed The term "money" as contained in this agreement shall be
construed to be all cash, securities, investments, trust funds, or any other
funds that may lawfully come into the depository's possession
The City hereby expressly reserves the right to withdraw any amount of
its funds that are deposited in the Depository Bank that are not required
immediately to pay obligations for the purpose of investing those funds in
securities as specified under state law
8. Other Stipulations
A The successful bidder or bidders will notify the City in writing
within ten (10) days of any changes in Federal or State Regulations
or laws that would thereafter accept the depository agreement
B Notification of wire transfers shall be made within one hour of the
transaction and a duplicate copy furnished to the City within
twenty-four (24) hours
C The Bank's records relating to the City of Denton accounts shall be
open to review by either City staff or City appointed independent
auditors
D The proposing bank shall submit a copy of the last annual financial
statements and subsequent quarterly call reports along with an annual
year end Uniform Bank Performance Report
9. Joint or partnership bids (other than members of the same holding
company) will not be considered.
10 The City reserves the right to reject any and all bids and to waive
irregularities
BA ' E TEXAS. N A
BY S 1
v
TITLE Denton Office President
AGREED
Executive Director of Finance
JLB of
4774F
8/22/89
DEPOSITORY AGREEMENT PAGE 5 OF 7
FISCAL YEAR 1989 PERIOD ENDING JUNE 30, 1989
INSTITUTION RANK ONF TFXAS N A
ADDRESS 215 W Hickory, Denton 76201
PHONE # (817)3$1-7421
PRIMARY
RETURN
RETURN
LOAN
TOTAL
CAPITAL
ON
ON TOTAL
LOSS
TOTAL
ASSETS
RATIO
EOUITY
ASSETS LOANS
RESERVE
DEPOSITS
%
%
%
$----P
Please furnish a copy of July 1989 call report and a copy of the latest Annual Stockholders Report
Additional Comments that you would like to make regarding your bank See Attached
OCC does not currently require reporting Annual Stockholders report
will be furnished when issued Any additional financial information
or detail will be furnished upon request
DEPOSITORY AGREEMENT PAGE 6 OF 7
Special services that can be offered
Computer Access to Accounts
Comments See Appendix C
Mastercard/visa Services
Comments
r_&JYes L_1N0
LX_/Yes L_/No
Lock Box L.A_/Yes L_ INO
Comments regarding frequency and daily reporting to the city
See Appendix C
Account Analysis f_.2L/Yes L_INo
Comments
Service'jees to be hard dollar charged through analysis on all
interest bearing accounts
Zero Balance Account
gontlceixeaRmn xxmkimRxAggoj4g:k/Sweep Account
Comments See Appendix C
Additional pages may used if necessary
L_xfYes L_,/No
4774F
DEPOSITORY AGREEMENT PAGE 7 OF 7
APPENDIX A
1 Interest Rates to be Paid on Single Maturity Time Deposits
Interest earned on deposits will be calculated on an actual/365 day
basis and will be paid at maturity of deposits
2 Repurchase Agreements
Securities eligible for repurchase agreements will include
Agency CMO's
Prior to investing funds from a demand account or a CD in a
repurchase agreement, the City will release collateral pledged
against such funds This will eliminate double collateralization
of funds collateralized through the demand account or CD, and
collateralized through the repo
Securities repo'd will be safekept at BANK ONE, TEXAS, in Dallas
Securities will not be delivered to a third party custodian
3 Interest Rate on Bank Loans to city
The undersigned (Bank) agrees to consider request(s) from the City
for loans with extension(s) to be granted based upon acceptable
terms and conditions Interest on loans will be calculated on an
actual/360 day basis
4 Interest on Demand Accounts
Interest on demand accounts will be calculated on an actuall365 day
basis and paid monthly Interest will be paid only on balances in
excess of those required to support services If services are paid
for in hard dollars, interest will be paid on all demand balances
5 Deposits Security
Securities accepted as collateral for deposits will include Agency
CMO's
In addition, BANK ONE, TEXAS is able to offer services pertaining to
the direct purchase and sale of securities
APPENDIX B
mommommonlow
Safekeeping and Securities
processing Services
Fee Soheduht
ENechve January 1 1969
securities Clearance
• Settlement of purchase and sales $2500
• Book entry via Federal Reserve (each) 25,00
• Depositary 11rust Company (DTC)
New York settlements 5000
• Registration of Securities 25 00
safekeeping
• Book entry securities
$ 200
(per month, per recelpq
• Physical securities (bearer, registered)
400
(per month per receipt)
• Registration of securities
2600
• Account verification (year-end)
NIC
• Additional verification statements
2500
securities Management Services
• Monthly processing
$7600
(includes two edits and one
month-end for up to 100 blocks
of securioss)
• Active records over 100 (each)
75
• Non-interfaced transactions (each)
76
• Additional copies of reports (each)
1000
• Consolidations (eaoh)
5000
• Mergers (each)
2600
fees may be charged on either
Safekeeping o and Securities c analysis basis
a h
I I
E d SU Ijua mwu& 8S ET 68, TL d3S
SEP 11 89 04 16 MBANK OPERATIONS ADMIN PAGE 1 Pvr2/4
APPENDIX C
BANK ONE, TEXAS
FEE SCHEDULE
FOR DEPOSITORY BID
CITY OF DENTON
215 EAST MCKINNEY
DENTON, TEXAS 76201
ACTIVITY
COST
PER ACTIVITY
-----STATE---------------
WARRANTS COLLECTION
NEXT DAY CREDIT
NO CHARGE
SAME DAY CREDIT CHARGES
30
00
LESS THAN $ 100,000
$ 100,000 - 199,000
50
00
200,000 - 299,000
65
00
300,000 - 399000
75
00
400,000 - 499,000
85
00
500,000 - 599,000
100
00
600,000 - 699,000
110
00
700,000 - 799,000
115
00
800,000 - 899,000
125
00
900,000 - 999,000
150
00
11000,000 - 11099,000
175
00
111001000 - 111991000
200
00
1,200,000 - 11299,000
215
00
11300000 - 1,3991000
225
00
1,400,000 - 1,499,000
250
00
11500,000 - 1,599000
275
00
1,600,000 - 1,699000
310
00
11700,000 - 1,7991000
320
00
1,800,000 - 1,899,000
330
00
11900,000 - 11999,000
340
00
21000,000 AND GREATER
350
00
DOMESTIC VOICE INITIATED WIRE TRANSFERS
OUTGOING MONEY TRANSFERS
7
00
PER TRANSFER
REPETITIVE:
NON-REPETITIVE:
9
00
PER TRANSFER
INTRABANK MONEY TRANSFERS
3
00
PER TRANSFER
REPETITIVE:
NON-REPETITIVE:
5
00
PER TRANSFER
AUTOMATIC STANDING TRANSFERS
1
00
PER TRANSFER
INTERNAL
EXTERNAL
4
00
PER TRANSFER
INCOMING MONEY TRANSFERS
4
00
PER TRANSFER
CUSTOMER DRAWDOWN REQUESTS
NO CHARG
E
PHONE ADVICE
3
00
PER ADVICE
MAIL ADVICE
1
00
PER ADVICE
SEP 11 89 04 17 MHANK O1 ATIONS ADMIN PAGE 2 P c3/4
INTERNATIONAL VOICE INITIATED TRANSFERS
25 00 PER TRANSFER
OUTGOING TRANSFERS
INCOMING TRANSFERS
5 00
PER TRANSFER
ON,US
15 00
PER TRANSFER
NOT-ON-US
NOT-
TERMINALLY INITIATED WIRE TRANSFERS
OUTGOING MONEY TRANSFERS
4 00
PER TRANSFER
REPETITIVE:
6 00
PER TRANSFER
NON-REPETITIVE:
INTRABANK MONEY TRANSFERS
1 00
PER TRANSFER
REPETITIVEt
1 50
PER TRANSFER
NON-REPETITIVE
INCOMING MONEY TRANSFERS
4 00
PER TRANSFER
EXTERNAL
NO CHARGE
INTERNAL
WIRE ACTIVITY REPORT
NO CHARGE
AUTOMATED CLEARINGHOUSE SERVICES
PAYROLL DIRECT DEPOSIT
0 090
PnR TTDM
TRANSACTION ORIGINATION
($25 00 MINIMUM)
ONE AY SETTLEMENT SURCHARGE
0 050
PER ITEM
RETURN ITEMS
1 50
2 50
PER ITEM
PER ADVICE
PHONE ADVICE
2 00
PER ITEM
RECLEARS
THIRD PARTY MAINTENANCE
25 00
PER MONTH
STOP PAYMENTS
17 50
10 00
EACH
EACH
CORRECTIONS
25 00
PER TAPE
TAPE CHARGE
CONTROLLED DISBURSEMENT
75 00
PER MONTH
FUNDING ACCOUNT FEE
0 15
PER ITEM
CHECKS PAID
0 45
PER CREDIT
CREDITS POSTED
RETAIL LOCKBOX SERVICE
LOCKBOX PROCESSING
p 14
PER ITEM
0 - 50,000 ITEMS
0 12
PER ITEM
50,001 - 100,000 ITEMS
0 10
PER ITEM
190,000 + ITEMS
150 00
PER BOX
MONTHLY MAINTENANCE
OPTIONSs
0 03
PER ITEM
ENCODING
0 05
PER ITEM
CORRESPONDENCE
0 05
PER ITEM
NON-PROCESABLES
0 03
PER ITEM
INK JET SPRAY
0 045
PER ITEM
MICROFILM
50 00
PER MONTH
TAPE HANDLING FEE
BANK= ONE
BANC ONE CORPORATION FACTS
Description BANC ONE CORPORATION is a multi-state bank
holding company headquartered in Columbus, Ohio
It operates 55 banks and 630 branch offices in
Indiana, Kentucky, Michigan, Ohio, Texas and
Wisconsin BANC ONE serves customers in 82
cities and towns and employs 23,000 people It
also operates affiliates that engage in trust
services, mortgage banking, investment banking,
consumer finance, equipment leasing, credit-
related life insurance, investment management,
data processing, discount brokerage and venture
capital activities
Financial
Data As of June 30, 1989, BANC ONE CORPORATION had
Total assets of $26 7 billion
Total deposits of $19 9 billion
Total loans and leases of $17 6 billion
Equity capital of $2 2 billion
Capitalization BANC ONE's primary and average common equity
capital to assets ratios were 8 91 percent and
8 40 percent at June 30, 1989
Peer
Comparisons, BANC ONE is among the 25 largest banks in the
U S in total assets, and has ranked among the
five most profitable banks in the U S since
1984
BANC ONE's average common equity to assets ratio
of 8 30 percent at March 31, 1989 was the
highest among the 50 largest U S banks, which
averaged 5 59 percent (Peer comparisons are
not yet available for the second quarter of
1989 )
BANC ONE's 1988 return on average assets of 1 45
percent is the highest recorded by any of the
current top 50 U S banks over the past 20
years
A recognized leader and innovator in consumer
banking, BANC ONE was the first banking
organization to offer BankAmericard (now VISA)
outside California BANC ONE also created the
first branch-wide ATM network, developed the CMA
account to link a brokerage account with a
checking account and debit card, and has one of
the largest bank credit card operations
Growth BANC ONE traces its lineage to Sessions &
Company, a local banking house formed in
Columbus, Ohio in 1868 Following a series of
mergers and acquisitions it became City National
Bank & Trust Co of Columbus in 1929
The holding company was formed in 1968 with 24
branches in Ohio, and in 1979 took the name BANC
ONE Its pattern of interstate growth began in
1986
BANC ONE's recent major acquisitions include
1983 - Winters National Corporation -
Dayton, Ohio - $1 6 billion in assets
1987 - American Fletcher Corporation -
Indianapolis, Indiana - $4 5 billion in
assets
1988 - The Marine Corporation - Milwaukee,
Wisconsin - $4 3 billion in assets
(pending) 1989 - Deposit Insurance Bridge
Bank, N A - Dallas, Texas - $13 0 billion
in assets
Management John B McCoy, Chairman
Frank E McKinney, Jr , President
Roman J Gerber, Executive Vice President, Chief
Legal Counsel
William P Boardman, Senior Vice President,
Mergers and Acquisitions
John W Westman, Vice President, Finance
BANC ONE SERVICES CORPORATION
David M Van Lear, President and CEO
BANC ONE INDIANA CORPORATION
Frank E McKinney, Jr , Chairman and CEO
BANC ONE OHIO CORPORATION
Donald L McWhorter, Chairman and CEO
BANK ONE, TEXAS, NA
John B McCoy, Chairman
Thomas E Hoaglin, President and CEO
James B Gardner, Vice Chairman and COO
BANC ONE WISCONSIN CORPORATION
Frederick L Cullen, Chairman and CEO
BANK EONE
BANK ONE, TEXAS, NA
FACTS
Description On July 5, 1989, The Deposit Insurance Bridge
Bank began to operate as BANK ONE, TEXAS as
BANC ONE CORPORATION assumed the management
responsibilities for Bridge Bank Bridge
Bank comprised the assets, deposits and
people of 20 MBanks which were declared
insolvent and closed on March 28 and 29,
1989 BANC ONE CORPORATION will operate the
bank under a management contract with the
FDIC for approximately a four- to six-month
period before consummating the purchase of
Bridge Bank's assets and assuming the bank's
liabilities BANK ONE, TEXAS has 68 banking
locations and about 5,500 employees
throughout Texas
Financial Data As of June 30, 1989, BANK ONE, TEXAS had
- Total assets of $13 0 billion
- Total deposits of $8 9 billion
- Total loans of $8 0 billion
Peer Comparisons: BANK ONE is the third largest bank in Texas
in terms of total assets
BANK ONE offices rank among the largest banks
in Texas' largest population centers Austin,
Dallas/Fort Worth, Houston and San Antonio
BANK ONE, TEXAS is a leader in the Southwest
in both consumer and commercial middle-market
banking, and in providing cash management and
capital markets services
In consumer banking, BANK ONE, TEXAS'
predecessors were first in Texas to offer
such products as bank credit cards and
automated teller machines
Management Chairman John B McCoy
President/CEO Thomas E Hoaglin
Vice Chairman James B Gardner
July, 1989
CITY OF DENTON, TEXAS
OFFICIAL APPLICATION FORM
Proposal for City Depository or Depositories and Banking Services Agreement
City of Denton, Texas
Gentlemen
Subject to the terms of the proposal for City depository and Banking
Services Agreement, the undersigned a banking corporation, association or
individual banker doing business within the City of Denton, Texas, submits the
following bid for the privilege of acting as City Depository for the city of
Denton, Texas, for the two-year period beginning October 1, 1989 and ending
September 30, 1991 in accordance with the laws of Texas, the Charter, and
various Ordinances of the City of Denton, Texas
1 Interest Rates to be Paid On Single Maturity Time Deposits
(Certificates of Deposit)
The interest rate indicated is fixed for the term of the Certificate of
Deposit and is related to the Treasury Bill yield with the closest maturity
date to the CD maturity date as reported by the Wall Street Journal, on the
day of the CD purchase (See attached example October 25th yield 8 148 )
A Deposits of $100,000.00 or more
Maturity Interest Rate
7 -13 days 10 basis points above/b4IVW Treasury Bill Yield
14- 30 days 10 basis points above/k%dlbM Treasury Bill Yield
31- 59 days 10 basis points above/bWlbM Treasury Bill Yield
60- 89 days 10 basis points above/ltl(XXU Treasury Bill Yield
90-179 days 5 basis points above/&VIbU Treasury Bill Yield
180-364 days 10 basis points Ab`F#/below Treasury Bill Yield
365 days 0 basis points above/MIXU Treasury Bill Yield
or more
*In no event shall the interest rate on single maturity time deposits of
$100,000 00 or more be less than 5 0 8 during the term of depository and
banking services agreement
B Deposits of less than $100,000 00
Maturity Interest Rate
7- 13 daye 0 basis points above^6101 TLaasur} Bill Yield
14- 30 days 0 basis points above,XM6)UW Treasury Bill Yield
31- 59 days 0 basis points aboveAlUU% Treasury Bill Yield
60- 89 days 0 basis points aboveXE66lGUO Treasury Bill Yield
90-179 days 0 basis points aboveAbNdg Treasury Bill Yield
180-364 days 20 basis points 4V8X,*/below Treasury Bill Yield
365 days 20 basis pointsX6)JWd/below Treasury Bill Yield
or more
(Subject to existing or future regulations)
DEPOSITORY AGREEMENT PAGE 1 OF 7
*In no event shall the interest rate on a single maturity time deposits of
less than $100,000 00 be less that 4 75 % during the term of the depository
and banking services agreement
2 Repurchase Agreements Addendum I
The undersigned (Bank) agrees to sell those U S securities in which the
City can legally invest its excess demand deposit balances to the City on or
1030 am
before JW2XX>(XJA each regular day of City's business to provide overnight and
weekend investments to the City through the use of Repurchase Agreements,
1030 am
and simultaneously with the sale agrees to repurchase on or before X)(XODMVWX
on the agreed upon date the same securities at the same price as sold with
interest calculated on the invested amount Bank holidays falling on Friday
or Monday will be included in the weekend "Repurchase Agreement" and the
interest calculation for a weekend "Repurchase Agreement,' including a bank
holiday, will be on the invested amount
Interest earning resulting from each repurchase agreement shall be paid to
the City on the day of maturity by providing deposit slips showing each
account and the amount of interest deposited to the account The undersigned
agrees to pay the City interest on each repurchase agreement at the rate of
not less than * basis points above/below the Treasury Ball Yield as
reported by the Wall Street Journal, in effect on the date that the repurchase
agreement is executed The City reserves the right to enter into repurchase
agreements for periods not exceeding 30 days * The rate will be determined at the time of
trade
3. Interest Rate on Bank Loans to City
Loans will be made to the City at the fixed rate of * % per annum or at
a variable rate of * basis points above/below the bank's base rate to pay
current operating expenditures as may be required by ordinance with such loans
to be repaid out of the first current tax collections, or to pay non-operating
expenditures and/or purchase equipment or other expenditures as may be
required by ordinance with such loans to be repaid on a scheduled basis as
agreed to by the City and Dy the bank %The City has not borrowed funds in
the past but relies or th.s as a contingency source of furds ) * Subject to normal
credit approval process
4. Interest on Demand Accounts Addendum II
(NOW, Super-NOW or Money-Market Accounts)
The undersigned agrees to pay to the City a variable interest rate on
minimum demand account balances as outlined in the attached schedule in
accordance with current banking practice and rules However, the undersigned
agrees that the minimum rates on these accounts shall never be less than 4 50%
DEPOSITORY AGREEMENT PAGE 2 OF 7
For purposes of this contract, an overdraft in any of the demand accounts
shall be defined as a deficit in one or more accounts which exceeds the
balances in the other demand accounts on a aggregate basis The parties agree
that no interest shall be paid the City on the account which has been
overdrawn for th period of the deficit, however, so long as the aggregate
total of all demand accounts are positive no interest shall be charged the
City on the individual account which is overdrawn In the event of an
aggregate deficit in the demand accounts the undersigned will charge 200
basis points above/UID)M the banks current lending base rate
The City will have the right to invest funds in other financial
institutions or securities permissible under State law
(See Addendum)
5 Bank Services To Be Provided Fee for Service
A Provide complete investment service including
assistance in acquiring investments securities,
counseling, and safekeeping service for securities
owned $
(A)
B Provide bank money orders, travelers' checks and
cashier's checks as required by the City $ (B)
C Supply voucher checks and payroll checks according
to quantity quality, design and specifications
established by the City (Approximately 20,000.
voucher checks per year and approximately
24,000 payroll checks per year ) $ (C)
D Supply deposit slips according to quantity,
quality, design, and specifications established by
the City Deposited items 340,000 (checks)
E Provide night depository keys and locking
depository bags, as necessary
F Clear all insufficient funds checks twice before
charging them to the applicable City bank account
and returning them to the City
G. Provide stop payment services
$ (E)
1 00 reclears
$1 50 return items
S15 00/check
(D)
H Provide wire transfer services for both deposits
and disbursements It is understood that the City
of Denton uses the wire transfer service as a
means of ac6elerating various types of payments
(such as TMPA payments, bond debt service and
security purcnases). $ (H)
1. Provide customary demand deposit account service
and provide monthly bank statement on each account
within five (5) working days of closing date
Statements are to reflect transactions beginning
with the first day of the month Cancelled checks
are to be returned in numerical sequence
J Provide daily collected balances and ledger
balances by telephone upon request
(I)
$60 00/month per acct
DEPOSITORY AGREEMENT PAGE 3 OF 7
K Provide immediate credit on the same day as
deposits occur (holidays and weekends excepted)
This includes same day credit on wire transfers of
funds from the Federal and State Governments, and
same day credit on warrants issued by the State
Comptroller received prior to 2 00 P M
L Provide remittance service to various paying
agents for required City principal and/or interest
payments on bonds *(None, other than charge from
the paying agent )
M Monitor City investment securities held by
depository bank to provide same credit to the
appropriate City account(s) automatically upon
maturities, and provide deposit slips at maturity
dates
N Provide list of all certificates of deposits held
by the City on the last day of the month
0 Provide foreign and domestic exchange services
*(None, other than charges from correspondent
banks.)
P Provide coin wrappers and accept bulk coins for
deposits
Q Provide safe deposit boxes to maintain storage for
financial data retained on computer diskettes
(1Ox10x30 inches - Maximum of two boxes)
$ 60.OOfu~
(K)
(L)
(M)
$ (0)
$ (P)
$ (Q)
6 Deposits Security ADDENDUM III
The undersigned shall furnish to the City pledged securities as provided
by the laws of Texas (Article 2560, Revised Civil Statutes of Texas, as
amended) Securities pledged shall at all times have a market value of 1021
to the total amount of the City's monies on deposit with the depository bank
It is further provided that no reduction or substitution of securities pledged
shall be made without the prior approval of the City's Executive Director of
Finance, or Treasurer, in writing The bank shall provide the City with
report of securities pledged at the end of each month
reflect the following
Total Pledge Securities by
Name
Type/Description
Par Value
Market Vale at Month bnd
Maturity Date
Safekeeping Bank
This report should
The securities pledged shall be held in safekeeping by a separate and
different bank other than the depository bank and the safekeeping bank or
banks will be listed as to the pledged securities held on behalf of the City
DEPOSITORY AGREEMENT PAGE 4 OF 7
7 Safekeeping
The depository shall keep safely all monies of the City and pay the same
over as directed The term "money" as contained in this agreement shall be
construed to be all cash, securities, investments, trust funds, or any other
funds that may lawfully come into the depository's possession
The City hereby expressly reserves the right to withdraw any amount of
its funds that are deposited in the Depository Bank that are not required
immediately to pay obligations for the purpose of investing those funds in
securities as specified under state law
8 Other Stipulations
A The successful bidder or bidders will notify the City in writing
within ten (10) days of any changes in Federal or State Regulations
or laws that would thereafter accept the depository agreement
B Notification of wire transfers shall be made d,U r1,n_ the ame l ltYees day
transaction and a duplicate copy V iwrrrtel~ed to the City within
twenty-four (24) hours mailed
C The Bank's records relating to the City of Denton accounts shall be
open to review by either City staff or City appointed independent
auditors
D The proposing bank shall submit a copy of the last annual financial
statements and subsequent quarterly call reports along with an annual
year end Uniform Bank Performance Report
9 Joint or partnership bids (other than members of the same holding
company) will not be considered.
10 The City reserves the right to reject any and all bids and to waive
irregularities.
BY
TITLE
AGREED
Executive Director of Finance
JLB of
4774F
8/22/89
DEPOSITORY AGREEMENT PAGE 5 OF 7
7 Safekeeping
The depository shall keep safe}y all monies of the City and pay the same
over as directed The term money as contained in this agreement shall be
construed to be all casht securities investments trust funds or any other
funds that may lawfully come into the depository a possession
The City hereby expressly reserves the right to withdraw any amount of
its funds that are deposited in the Depository Bank that are not required
immediately to pay obligations for the purpose of investing those funds in
securities as specified under state law
B Other Stipulations
A The successful bidder or bidders will notify the City in writing
within ten (10) days of any changes in federal or State Regulations
or laws that would thereafter accept the depository agreement
B Notification of wire transfers shall be madsA d ri the amt botS itfihe85 day
transaction and a duplicate copy y fern*s*" to the City within
twenty-four (24) hours mailed
C The Bank's records relating to the City of Denton accounts shall be
open to review by either City staff or City appointed independent
auditors
D The proposing bank shall submit a copy of the last annual financial
statements and subsequent quarterly call reports along with an annual
year end Uniform Bank Performance Report
9 Joint or partnership bide (other than members of the same holding
company) will not be considered
10 The City reserves the right to reject any and all bids and to waive
irregularities
J ff Whee r
BY
TITLE y(ce President
AGREED
Executive Director of Finance
JLB of
6776?
8/22/89
DEPOSITORY AGREEMENT PAGE 5 OF 7
FISCAL YEAR 1989 PERIOD ENDING JUNE 30, 1989
INSTITUTION NCNB Texas
ADDRESS 901 Main Street, Dallas, TX 75202
PHONE M
214) 508-0365
RETURN
RETURN
LOAN
TOTAL
CAPITAL ON
ON
TOTAL
LOSS
TOTAL
ASSETS
RATIO EQUITY
ASSETS
LOANS
RESERVE
DEPOSITS
27, 941•
433* 5 3 x * 21_7 b6
_L
317 • 914
769
; 19..j 724 , 948
* In thousands
Domestic
Average for perioM Usein calculation
Please furnish a copy of July 989 call repor and a copy of the latest Annual Stockholders Report
Additional Comaents that you would like to make regarding your bank
Special services that can be offered
Computer Access to Accounts
Comments
Mastercard/Visa Services
Comments
/Yes Z_(No
Yes Z__/No
Lock Box Yes Z__y No
Comments regarding frequency and daily reporting to the city
Service can be tailored to your specific needs
Hourly mail pickups (24 hours per day), 365 days per year
Account Analysis Yes [__/No
Comments
Example (pro forma) enclosed
Control Concentration Account/Sweep Account Yes LfNo
Comments
Controlled Disbursement, Consentration, and Zero Balance accounts
are available Sweep accounts are not
Additional pages may used if necessary
4774F
DEPOSITORY AGREEMENT PAGE 7 OF 7
North xas Savin s
A N D 1 0 A %N A S S C 1 A T 1 N
DENTON OAK AND HICKORY AT PINER
HOME OFFICE iv1 DENTON TEXAS 76MI
817 382 9676 Metro 214 436 1942
September 19, 1989
Mr Jim Bunyard, City Treasurer
City of Denton
215 E McKinney St
Denton, Texas 76201
Dear Mr Bunyard
This is to request that North Texas Savings & Loan
Association of Denton, Texas be designated as a depository of
funds of the City of Denton
We appreciate the opportunity to serve in this capacity and
we appreciate your business
Yours V r T ly,
Hal Ray
controller
HR mkm
DECATUR BRANCH OFFICE KELLER BRANCH OFFICE LEWISVILLE BRANCH OFFICE PILOT POINT BRANCH OFFICE
1415 SOUTH FM 51 521 E PRICE STREET 302 SOUTH STEMMONS 500 HWY 377 SOUTH
DECATUR TEXAS 76234 KELLER TEXAS 76248 LEWISVILLE TEXAS 75067 PILOT POINT TEXAS 76258
817 627 1222 817 379 5050 214 436 4513 817 686 5023
II
FIRSTC17YTEXRS
FmsT Crry Bmconronnnma oe TFx+s
Austin
823 Congress Avenue P O Box 1727
Austin Texas 78767
(512) 473 4343
September 15, 1989
Mr Jim Bunyard
City of Denton
215 E McKinney St
Denton, Texas 76201
Dear Mr Bunyard
SEP 181989
First City, Texas - Austin, N A would very much appreciate
being designated as an authorized depository for the City of
Denton for the next two years ending September 30, 1991
We will continue to provide the same specific services you
presently require including, processing the City's sales tax
reimbursements, and Insured Savings program that provides
for deposits to be fully insured by F D I C with immediate
withdrawal capabilities In addition, your specialized
needs will be reviewed on an ongoing basis and upgraded as
appropriate
First City, Texas - Austin has provided banking services to
the City of Denton for several years, and we pledge our
continued attention to detail and professional handling of
your account
We look forward to the opportunity to serve as a depository
bank in the upcoming years
jWit kind/\ t r,.~gards,
Gary Peese
Senior Vice President
GRP/psc
1 I '
~ r
SEP i 8
C ~ tY I 1 L
September 15, 1989
City of Denton Finance Dept
Jim Bunyard
215 E McKinney
Denton, TX 76201
Dear Jim
This is to confirm that Denton Federal Savings and Loan Association would
like to remain as a depository for the City Our day to day operations
have not changed nor has the insurance coverage on our deposit accounts
We appreciate very much your consideration
please do not hesitate to contact me
Very truly yours,
IDEON F E11 VINGS AND LOAN
Larry i hter
Senior V e President
LR/rg
4,\ M M,
.NML
S~
300 N ELM / PO BOX 1307
If you have any questions
0 DENTON TEXAS 76202 1307 . 817 387 3505