1987-1501956L
NO
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 C~ty of its intent to receive bid applications
for the custody of c~ty 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 C~ty 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 C~ty for the handling of such funds, NON,
THEREFORE,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF DENTON
SECTION I That First State Bank of Denton, Texas xs hereby
selected and 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 ~nstltutlon having its
office and place o£ business in the C~ty of Denton, Texas, shall
be attached hereto and made a part hereof, and the same xs hereby
xn 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~"~day of September, 1987
ATTEST
JE~IFER-~ALTERS, CITY SECRETARY
APP~fOVED AS TO LEGAL FORM
DEBRA ADAMI DRAYOVITCH, CITY ATTORNEY