Res 307 5/13/1957RESOLUTION NC.
BE IT RESOLVED by the Board of Aldermen of the City
of Wichita Falls, Texas, that the City Clerk be directed to
advertise for applications to be designated as City Depository
of the funds o y,f this City, in not less than one ( 1) nor more
than four (4) weeks before our next meeting, in our official
newspaper, in order that any interested bank in the City of
Wichita Falls may apply for such designation.
The City Attorney is directed to prepare the nec-
essary advertisement in compliance with Articles 2559 through
2566a, of the Revised Civil Statutes of Texas, and at our next
regular meeting the City of Wichita Falls will select from
such applicants a City Depository for the ensuing two years
beginning October 1, 1957.
The City shall reserve the right to reject any and
all bids at its discretion and in any contract entered into
shall retain the right of investing any of its funds according
to law.
Such advertisement shall require the bidders to state
the basis of the services they shall render the city :
Whether or not they shall print the checks and vouchers
at their cost.
What rate of interest they will pay upon thirty, sixty
and ninety days time deposits;
What rate of interest they will pay on time deposits
of more than ninety days; and such banking institution shall
also state what security it will give for deposits.
Such bids shall be opened at the next regular meeting
of the Board of Aldermen, on the 27th day of may, ,. D. 1957,
and the respective bids shall be opened at 8:00 O'clock P.M. ,
by the Board of Aldermen on that date,
PASSED AND APPROVED this the 13th day of May,
A. D. 1957.
K. C. Spe 1, Mayor
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SPA
Ge ,hen. erson
City Cler=gy
Prepared by
3. Walter Friberg
City Attorney