Ordinance No. 987ORDINANCE NO. 987
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
BAYTOWN DECLARING THAT IT HERETOFORE ADVERTISED
AND GAVE NOTICE TO ANY BANKING CORPORATION, AS-
SOCIATION OR INDIVIDUAL BANKER DOING BUSINESS
WITHIN THE CITY OF BAYTOWN, PURSUANT TO THE PRO-
VISIONS OF ARTICLE 2559 THROUGH 2566a, REVISED
CIVIL STATUTES OF TEXAS, THAT IT WOULD RECEIVE
BIDS AND APPLICATIONS FROM SUCH BANKS TO ACT AS
DEPOSITORY FOR SUCH CITY FOR A TWO YEAR PERIOD,
BEGINNING OCTOBER 1, 1969, AND ENDING SEPTEMBER
30, 1971, BOTH DATES INCLUSIVE; DECLARING THAT
THE CITY COUNCIL AND BAYTOWN'S ADMINISTRATIVE
PERSONNEL HAVE STUDIED EACH BID THAT WAS RECEIVED
FROM EACH OF SAID BANKS AND, AFTER DUE STUDY, CON -
SIDERATION AND DELIBERATION, IT FINDS AND HEREBY
RESOLVES THAT THE BID OF FIRST NATIONAL BANK,
BAYTOWN, TEXAS, IS MOST ADVANTAGEOUS, BENEFICIAL
AND FAVORABLE TO THE CITY OF BAYTOWN AND ITS
CITIZENS; ACCEPTING THE BID OF SAID BANK AND AU-
THORIZING AND DIRECTING THE MAYOR AND CITY CLERK
TO EXECUTE A CONTRACT BETWEEN SUCH BANK AND THE
CITY OF BAYTOWN; INCORPORATING THE PERTINENT PRO-
VISIONS OF THE BID PROPOSAL AND BID; DIRECTING
THAT SAID BANK QUALIFY AS DEPOSITORY AS DIRECTED
BY THE CITY COUNCIL; DIRECTING THE CITY TREASURER
TO TRANSFER THE CITY'S FUNDS, IF A NEW DEPOSITORY
IS SELECTED, ACCORDING TO LAW, ON OR BEFORE OCTOBER
1, 1969, INTO SAID BANK AND TO PLACE, DEPOSIT AND
KEEP, ACCORDING TO LAW, BAYTOWN-S FUNDS IN SUCH
BANK UNTIL OCTOBER 1, 1971, OR UNTIL HE IS DIRECTED
OTHERWISE BY THE CITY COUNCIL; THAT THE CITY CLERK
SHALL HAND, FORTHWITH, A CERTIFIED COPY OF THIS
GRDINANCE: TO ANY BANK OR BANKS AFFECTED HEREOF;
AND PROVIDING FOR THE EFFECTIVE DATE OF THIS RESO-
LUTION.
WHEREAS, the City Council of the City of Baytown
advertised in the City's official newspaper for bids and
gave notice by mail asking for bids from any banking corpora-
tion, association or individual banker doing business within
the City of Baytown, pursuant to the provisions of Article
2559 through 2566a, Revised Civil Statutes of Texas, to
act as Depository for such City; and
WHEREAS, all such banks and /or bankers have been
duly and properly notified of such bidding procedures; and
WHEREAS, the officers and officials of these banks
have met with the City Council and /or the City officials of
the City of Baytown on numerous occasions; and
WHEREAS, each of such banks and /or bankers have
been asked to submit bids to act as Depository for the City
of Baytown for a two year period, beginning October 1, 1969,
and ending September 30, 1971, both dates inclusive; and
WHEREAS, the City Council and the administrative
personnel of such City have studied the five bids submitted
by said banks and /or bankers, and, after due study, considera-
tion and deliberation, are of the opinion that one of the
bids is most advantageous, beneficial and favorable to the
City of Baytown and its citizens; NOW, THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY
OF BAYTOWN:
Section 1: That the First National Bank, Baytown,
Texas, is hereby accepted and made the Depository for the
funds of such City for a period, beginning October 1, 1969,
and ending September 30, 1971, both dates inclusive, by vir-
tue of the fact that such bank has offered the bid which is
most advantageous to the City of Baytown and its citizens.
Section 2: That the Mayor and City Clerk are
hereby authorized and directed to execute a contract between
such bank and the City of Baytown, incorporating the pertinent
provisions of the bid proposal and bid as approved by the
City Council.
Section 3: That said bank is hereby authorized
and directed to qualify as the City's Depository in the fol-
lowing manner:
Such bank shall collateralize all deposits
placed with it by the City of Baytown with
direct or indirect obligations of the United
States of America or bonds of municipalities
of the United States of America (securities
in escrow), which shall have a value at all
-2-
times in excess of the total amount placed
on deposit by the City of Baytown, and which
shall be acceptable to the City of Baytown
for use as a collateral pledge.
Section 4: That the City Treasurer is hereby
authorized and directed to transfer, to the new Depository,
as selected, on or as soon thereafter as possible, October
1, 1969, into the First National Bank, Baytown, Texas, all
the City's funds, less and except those funds which may be
subject to some time deposit contract or other contract or
provisions which would make such transfer impossible or
disadvantageous; and, to place, deposit and keep, according
to law, Baytown's funds in such Bank until October 1, 1971,
or until directed otherwise by the City Council.
Section 5: That the City Clerk shall hand, forth-
..... . .... — —
with, a certified copy of this Ordinance to the bank hereby
selected. That this Ordinance shall become effective
October 1, 1969, and shall remain in effect until its repeal
by the City Council of the City of Baytown.
City Council on this 14th day of August, 1969.
/17
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G L E q 7
_KE R , Mayor
ATTEST:
m.
E-D—NA OLIVER, City Clerk
WILLIAM R. LAUGHLIN, City ttorney
IAMWIMI,
AN ORDII\ANCE AUTHORIZING TVM�' CIrIY MANAMR OF MIE CITY
Or BAYM4N TO APPR01DI=L F0XIY IHOUSAND FIVE hUNDRED
101ft, DOLLARS ($40,500.00) FROM THE U' APPPDPRIATED SURPLUS
WATER FUND TO BUDGET ACODUNT NOS. 1001-4-7, 1003-2-1,
AND 1006-11-4.
'JEAT the City Manager of the City of Baytown is hereby author-
ized to appropriate Forty 'Ibousand Five hundred Dollars ($40,500.00) from,
the Unappropriated Surplus Water Fund to the folkwing accounts, to-wit:
Account No. 1001-4-7 Water Supply-Maintenance-
Wells, & Reservoirs $16,500.00
Account No. 1003-2-1 Accomtang & Collecting-
Office Supply & Pcstage 1,500.00
Account No. 1006-11-4 Transfer to other funds-Capital
Iiiprovenent--Sunitary Sewer 22,500.00
Total Transfer $40,500.00
-=IRODUCED, READ, and PASSED hy the affirnative vote of a majority
of the City Council of the City of Baytown on this tie 14th day of August,
A. D., 1969.
or
en Walker, "NaYo
ATIESI:
Edna Oliver, City Clerk
MRS
William R. LaUTi Din, City AttorrIty