Res 1720 9/23/1975RESOLUTION NO. 1720
RESOLUTION SELECTING CITY NATIONAL BANK
AND PARKER SQUARE STATE BANK AS THE
DEPOSITORIES FOR THE CITY OF WICHITA FALLS.
WHEREAS, notice has been published by the City that
applications for the custody of City funds will be received;
and,
WHEREAS, applications have been received from two banks
that desire to be selected as the depository of the City; and,
WHEREAS, the Board of Aldermen has considered such ap-
plications, and finds that City National Bank and Parker Square
State Bank have offered equally favorable terms and conditions
for the handling of such funds.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF ALDERMEN
OF THE CITY OF WICHITA FALLS, TEXAS, THAT :
SECTION 1. City National Bank and Parker Square State
Bank are hereby selected as the depositories of the funds of
the City of Wichita Falls, and the City Manager is authorized to
execute depository contracts for the City with such banks in
accordance with said applications; the principal funds of the
City shall be deposited in the City National Bank from
October 1, 1975 through September 30, 1976, and in Parker Square
State Bank from October 1, 1976 through September 30 , 1977 .
SECTION 2. As required by law, said banks shall qualify
as City depositories by pledging with the City for the purpose
of securing such City funds such securities as are authorized by
law. As soon as said securities have been so pledged by each
bank, each such bank shall be designated as a depository of
the funds of the City.
PASSED AND APPROVED this the 23rd day of September, 1975.
MAYOR P O TE
ATTEST :
7 2_,e->
DEPUTY CIT CLERK