Res 1994-185 - Laserfiche WebLink

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I 9~Y Investment Securities (longer term funds) - A variety of securities are available for investments not requiring immediate liquidity. Public fund investment officers now make active use of Treasury bills and notes and Government Agency notes to place funds for periods beyond 30 days. These yields typically exceed the returns. from collateralized time deposits. Although the securities have a specific maturity date, they may be sold at any time to raise cash and they offer excellent quality. Public entities may use VB&T's safekeeping service or third party safekeeping through the Federal Reserve Bank of Dallas. Time Deposits - We offer limited single maturity time deposit services to supplement your longer term investment . program. These deposits are priced off the comparable maturity U. S. Treasury bill as per schedule Attachment IV. No time deposits will be written to mature beyond the maturity of this contract. By providing banking services, cash management, and investment services, the public fund Income Maximization Plan serves the public investor1s needs in a highly efficient way. There are other features that relate to 'your depository contract: . Variable rate, short term working capital loans are available to mature within the term of the contract. Loans are subject to normal guidelines and are priced at Victoria Bank & Trust's base lending rate. Checks are available at Victoria Bank & Trust's vendor cost. Your actual cost will depend on the style and the number of accounts involved. We will furnish counter deposit slips. Business Express, Attachment VI, will give the City daily access to customer account information via personal computer. This service also gives the City the ability to generate stop payments and fund transfers through your PC's if so inclined. We will not charge for a safe deposit box, replace~ents of bank bags, or for cashing City employees checks. Your local Victoria. Bank & Trust office is a branch of Victoria Bank & Trust. Deposits totaled $1,460,541,006 as of September 30, 1994. Stockholders' equity was $l48,608,733. As. your depository we will pledge securities to cover your deposits through a custodial account at the Federal Reserve Bank of Dallas. Any reduction or substitution in the total amount of pledged securities will require your approval.