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<br />~- <br /> <br />I <br />I <br /> <br />I <br />I <br /> <br />I <br />I <br /> <br />~I~------""""----'=---- <br /> <br />l <br /> <br />35 <br /> <br />RESOLUTION NO. 62 <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF <br />THE CITY OF SAN MARCOS, TEXAS, APPROVING <br />A DEPOSITORY CONTRACT BETWEEN THE CITY <br />OF SAN MARCOS, TEXAS, AND HAYS COUNTY <br />NATIONAL BANK. <br /> <br />WHEREAS, Article 2559, Texas Revised Civil Statutes <br />authorized the governing body of a city incorporated under <br />the "Home Rule" provisions of the Texas Constitution to <br />receive applications for the custody of city funds from <br />any banking corporation, association or individual banker <br />that may desire to be selected as a depository of that <br />city; and, <br /> <br />WHEREAS, the City Council of the City of San Marcos, <br />Texas, desires to select such a depository; and, <br /> <br />WHEREAS, the City Secretary of said City published notice <br />that such applications would be received not less than one (1) <br />nor more than four (4) weeks before the meeting at which said <br />depository was selected; and, <br /> <br />WHEREAS, after considering the applications submitted, <br />the City Council finds that <br />offers the most favorable terms and conditions for the handling <br />of City funds; and, <br /> <br />WHEREAS, said City has elected to require a deposit of <br />approved securities rather than a bond to secure City funds; <br />and, <br /> <br />WHEREAS, the attached contract includes the terms of the <br />application submitted by , <br />and the requirements pertaining to the deposit of approved <br />securities; now, therefore, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN <br />MARCOS, TEXAS: <br /> <br />Part 1. <br /> <br />That Hays County National Bank be, and is, <br />hereby selected as depository for the City of San <br />Marcos, Texas, for the period beginning October 1, <br />1979 and ending September 30, 1981. <br /> <br />That the Depository Contract to Secure Funds of <br />City of San Marcos, a copy of which is attached <br />hereto as Exhibit A, be and is, hereby approved. <br /> <br />Part 2. <br /> <br />Part 3. <br /> <br />That the Mayor, John A. Hansen, or his successor, <br />be, and is hereby authorized to execute said <br />contract on behalf of said City. <br /> <br />That this Resolution shall take effect immediately <br />from and after its passage. <br /> <br />Part 4. <br /> <br />ADOPTED this 10th day of September, 1979. <br /> <br />10J~ <br /> <br />A. Hansen <br /> <br />ATTEST: <br />/ <br />J&~ :tia~, <br /> <br />Doriss Hambrick <br />City Secretary <br /> <br /> <br />APPROVED: <br /> <br />~~~~ <br /> <br />City Attorne~wards <br />