Res 170-83 9/6/1983RESOLUTION NO. 170-83
RESOLUTION APPROVING AND AUTHORIZING THE CITY MANAGER
TO EXECUTE A DEPOSITORY CONTRACT.
WHEREAS, heretofore the City of Wichita Falls has advertised for
proposals to act as depository of City funds for two years, from
October 1, 1983; and,
WHEREAS, of the proposals received, it is found that the
proposal of InterFirst Bank Wichita Falls offers the most favorable
terms and conditions for the handling of such funds .
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WICHITA FALLS, TEXAS, THAT:
The proposal of InterFirst Bank Wichita Falls, to act as
depository of City funds for a two year period, beginning October 1,
1983, is hereby accepted, and the City Manager is authorized to
execute with such bank a depository contract, a copy of which is
attached hereto, containing the terms and provisions of such proposal,
with the fixed rate, Alternate No. 2 on time deposits .
PASSED AND APPROVED this the 6th day of September, 1983 .
M A Y O R
ATTEST:
Ci y Clerk
DEPOSITORY CONTRACT
This contract made and entered into this the 6th day of
September, 1983, between the City of Wichita Falls, Texas, herein-
after called "City" , and the InterFirst Bank Wichita Falls, hereinafter
called "Bank" ,
WITNESSETH:
For and in consideration of the mutual covenants contained
herein, City and Bank do hereby agree that Bank shall serve as
depository of City and maintain custody of the funds of City for a
period of two years from October 1, 1983, through September 30, 1985,
in accordance with the covenants and provisions contained in Bank 's
Proposal for Depository Contract, which is attached hereto and
incorporated herein by reference.
On time deposits, Bank shall pay City the fixed rate, Alternate
No. 2, shown in the Proposal .
IN WITNESS WHEREOF, the parties have caused this contract to
be executed as of the day and year first stated above.
CITY OF WICHITA FALLS , TEXAS
By:
City Manager
ATTEST:
City Clerk
INTERFIRST BANK WICHITA FALLS
By:
Joe N. Prothro
Chairman of the Board and
Chief Executive Officer
InterFirst Bank Wichita Falls, N.A.
Trust Division
Proposal to City of Wichita Falls
Bond Paying Agent and Registrar Services
August 16, 1983
REGISTRAR SERVICES
For registration in connection with initial issuance, subsequent transfers,
calls, conversions, exchanges or redemptions:
First 250 items per year 00
Thereafter, $1.50 per Bond plus adjustment
or -) for effective change in prevailing
first class postage.
For Registrations involving additional
supporting legal documentation.
Per transaction: 15.00
For the administration of placements of
stops on lost or stolen certificates.
Per transaction: 25.00
Annual Maintenance of Registered Bondholder
accounts: WAIVED
Disbursement of Interest:
T
First 250 checks, per check 60
Next 250 checks, per check 35
Ove: 500 checks, per check 20
Plus Adjustment (+ or -) for effective change
in prevailing first class postage rates.
Disbursement of Principal at Maturity or Prior:
5,000.00 denomination, each 1.50
Should the need arise for Detailed Listings of
Bondholders, mailings to Bondholders and Public
Notices; Bank will charge on the basis of cost as
supported by invoice. Any Attorney costs, taxes or '
insurance will be charged at cost as well. Charges
relating to micro-filming and cremation services are
available upon request.
Page 6 of 23 Pages
Agenda Item No. 15 .i .
Proposal to
City of Wichita Falls
Page 2
IN THE INSTANCE OF BEARER INSTRUMENTS:
Payment of Coupons:
Any Denomination, per coupon 20
Payment of Principal at
Maturity or Prior
Per each Denomination 1.50
Page 7 of 23 Pages
Agenda Item No. 15 .i .
SAFE DEPOSIT BOXES
SIZE PRICE
2 x 5 10.00
4 x 5 15.00
3 x 10 20.00
4 x 10 25.00
5 x 10 30.00
9 x 11 55.00
10 x 10 55.00
10 x 15 85.00
11 x 17 105.00
Subject to availability. Rental expressed on an annual basis.
Page 8 of 23 Pages
Agenda Item No . 15 .i .
iInterFirst
SAFEKEEPING FEE SCHEDULE
INTERFIRST BANK WICHITA FALLS, N.A.
SCHEDULE OF SECURITIES SERVICING FEES
SHORT TERM INVESTMENTS
U.S. Treasury Bills, U.S. Government Agency
Securities, Commercial Paper, or other
securities maturing in one year or less.
Purchase/Sale 25.00
Safekeeping N/C
OTHER INVESTMENTS
U.S. Government Notes be Bonds, Municipal
Securities, Stocks, Etc.
Purchase/Sale 25.00
Safekeeping, as follows:
At Our
ACTIVITY At IFB WF Correspondents
Security Deposits 4.00 4.00
Security Withdrawals or Partial W/D 3.00 3.00
Coupons Clipped, Each 50 25
Book Entry Interest Payment,
Per Pmt, Per Issue N/A 1.00
MONTHLY
Acct. Maintenance 5.00 1.00
Safekeeping of Assets 1.00/Receipt .50/Receipt
Valuation Responsibility, per $10,000
Par Value 036 018
Bank to be reimbursed for all out of pocket expense.
Effective October 1, 1982
Page 9 of 23 Pages
Agenda Item No. 15 .i .
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Page 5 of 23 Pages
Agenda Item No. 15 . 1.