Res 1977-042 - Laserfiche WebLink

Home Browse Search

III I RESOLUTION NO. 1977-42-R A RESOLUTION Of THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, DESIGNATING THE HAYS COUN'IY NATIONAL BANK AS A DEPOSITORY fOR CUSTODY Of FUNDS OF THE CITY Of SAN MARCOS fOR A TERM BEGINNING OCTOBER 1, 1977, AND EXPIRING ON SEPI'EMBER 30, 1979. I WHEREAS, on friday, August 5, 1977, the City Secretary of the City of San Marcos caused to be published in the San Marcos Daily Record, a daily newspaper published in the City of San Marcos, a Notice of the intention of the City Council to receive applications on the 17th day of August, 1977, for the selection and designation of a depository or depositories for the derrand and time deposits of the City of San Marcos, all in accordance with Articles 2559 to 2566a, inclusive, of the Revised Texas Civil Statutes of 1925, as amended; and which Notice was published not less than one week prior to said date; and, WHEREAS, the Hays County National Bank, State Bank and Trust and first National Bank of San Marcos, Texas, have JIlade applications in WI?iting filed herein, desiring to be designated as a depository for the City of San Marcos; and WHEREAS, the City Council of the City of San Marcos is of the opinion that the Hays County National Bank of San Marcos, Texas, should be named as a depository for custody of funds of said City; now, therefore, BE IT RESOLVED BY THE CITY COUNCIL Of THE CITY Of SAN MARCOS, TEXAS: Part 1. That the Hays County National Bank is hereby designated as a depositmy for funds of said City for a term beginning October 1, 1977 and expiring on Se:?tember 30, 1979; provided, however, that the administrative officials of the City are hereby instructed to deposit such funds in such depository or other depositories so as to bring the best returns to the City, and are further instructed that it is not necessary I nor the desire of the City Council to JIlaintain any particular ratio or proprotion of funds, nor any particular accounts in such depository or other depositories. I Part 2. That this designation is conditioned upon said bank filing, within five (5) days, its bond or pledges of securities as required by law and by the City Council, and failure to file such bond or pledges of securities within said five (5) day period shall abrogate this designation. Part 3. That this resolution shall take effect :immediately :from and after itE. passage. ADOPI'ED this 22nd day of August, 1977~ L cr~~ Mayor A:reST'. ~ j~ . ;g~lSS Hambrlck City Secretary I~g/~ Charles E. Evans City Attorney