|
0
<br />H ?
<br /> >_ U)
<br />
<br /> RESOLUTION NO. 1981-64R
<br />
<br />
<br />
<br />
<br />E
<br />1 AiRESOLUTION OF THE CITY COUNCIL OF THE CITY
<br /> . C: OF SAN MARCOS, TEXAS, APPROVING AND RATIFYING
<br /> AN AMEND14ENT TO THAT DEPOSITORY CONTRACT TO
<br />
<br />LLJ
<br />W SECURE FUNDS OF CITY OF SAN MARCOS BETWEEN
<br />
<br />CO p
<br />SAID CITY AND HAYS COUNTY NATIONAL BANK APPROVED
<br /> > BY RESOLUTION OF SEPTEMBER 8, 1981, AND EXECUTED
<br /> 4,, SEPTEMBER 9, 1981 AND DECLARING AN EFFECTIVE
<br /> U U DATE.
<br />49
<br />WHEREAS, the City Council of the City of San Marcos, Texas,
<br />on September 8, 1981, approved a Resolution entitled "A Resolution
<br />Of The City Council Of The City Of San Marcos, Texas, Approving
<br />A Depository Contract Between The City of San Marcos, Texas, And
<br />Hays County National Bank;" and,
<br />WHEREAS, that Contract as approved on said date provided
<br />in Part III (g) :
<br />(g) the Depository does hereby initially pledge un-
<br />to and deposit in safekeeping and trust for the
<br />benefit of the City approved securities in the
<br />amount required by (b) above, of THREE MILLION
<br />SEVEN HUNDRED THOUSAND DOLLARS('$3,700,000.00),
<br />and warrants that the initial total protection
<br />afforded pursuant to this contract to funds of
<br />the City in the hands of the Depository or
<br />Treasurer is as follows:
<br />Value of Securities Pledged $3,700,000.00
<br />FDIC Insurance (Regular/Demand) 40,000.00
<br />FDIC Insurance (Int. & Sinking) 40,000.00
<br />FDIC Insurance (Time & Savings) 100,000.00
<br />1
<br />TOTAL = $3,880.,000.00
<br />WHEREAS, Part III(g) of said contract was subsequently
<br />amended to read as follows:
<br />(g) the Depository does hereby initially pledge unto
<br />and deposit in safekeeping and trust for the benefit
<br />of the City approved securities in the amount re-
<br />quired by (b) above, of THREE MILLION FIVE HUNDRED
<br />THOUSAND DOLLARS ($3,500,000.00), and warrants
<br />that the initial total protection afforded pursuant
<br />to this contract to funds of the City in the hands
<br />of the Depository or Treasurer is as follows:
<br />Value of Securities Pledged $3,500,000.00
<br />FDIC Insurance (Regular/Demand) 100,000.00
<br />FDIC Insurance (Int. & Sinking) 100,000.00
<br />FDIC Insurance (Time & Savings) 100,000.00
<br />TOTAL = $3,800,000.00
<br />now, therefore,
<br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS,
<br />TEXAS :
<br />PART 1. That the following wording for Part III'(g) of a
<br />Depository Contract To Secure Funds of City of San Marcos;
<br />(g) the Depository does hereby initially pledge unto
<br />and deposit in safekeeping and trust for the benefit
<br />of the City approved securities in the amount re-
<br />quired by (b) above, of THREE MILLION FIVE HUNDRED
<br />THOUSAND DOLLARS ($3,500,000.00), and warrants
<br />that the initial total protection afforded pursuant
<br />to this contract to funds of the City in the hands
<br />of the Depository or Treasurer is as follows:
|