Ordinance No. 1,482ORDINANCE NO.1482
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN DESIGNATING
CITIZENS NATIONAL BANK AND TRUST COMPANY AS THE DEPOSITORY OF THE
FUNDS OF THE CITY OF BAYTOWN FOR A PERIOD BEGINNING OCTOBER 1,1973
AND ENDING SEPTEMBER 30,1975,BOTH DATES INCLUSIVE;AUTHORIZING
AND DIRECTING THE MAYORAND CITY CLERKTO EXECUTE A CONTRACT BE
TWEEN SUCH BANK AND THE CITY OF BAYTOWN;INCORPORATING THE PERTINENT
PROVISIONS OF THE BID PROPOSAL AND BID:DIRECTING THE CITY TREASURER
TO MAINTAIN THE CITY DEPOSITORY AS DESIGNATED IN THE CITIZENS NATIONAL
BANK AND TRUST COMPANY,AND PROVIDING FORTHEEFFECTIVE DATE HEREOF.
WHEREAS,as on the 12th day of July,1973 Citizens National Bank &Trust
Company was selected by Ordinance No.1430 as the Depository for the funds of
the City of Baytown for a period beginning October 1,1973 and ending September
30,1973,both dates inclusive,by virtue of the fact that such bank offered
a bid which was most advantageous to the City of Baytown and its citizens;and
WHEREAS,Citizens National Bank &Trust Company has qualified as Depository
by pledging forthe purpose ofsecuring the City funds sureties as required by
Article 2560,Vernons Annotated Texas Statutes,in the amount equal to the City
funds on deposit with the bank;NOW THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OFTHE CITY OFBAYTOWN:
Section 1:That Citizens NationalBank &Trust Company,Baytown,Texas,
is herebyaccepted and made the Depository forthe funds of such City for a
period,beginning October 1,1973 and ending September 30,1975,both dates
inclusive,by virtueof the fact thatsuchbank 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 bankand the City of Baytown,incorporating
the pertinent provisionsof the bid proposal and bid as approved by the City
Council.
Section 3:That the City Treasurer is hereby authorized and directed to
maintain in the Depository as designated,all the City's funds,except for those
Special Funds for the payment ofinterest onthe principal of bonds heretofore
or hereafter required by ordinance tobe maintained in another financial insti
tution,and to keep,according to law,said funds in such Bank until October 1,
1975 or until directed otherwise by the City Council.
Section 4:That the City Clerk shall hand,forthwith,a certified copy of
this Ordinance to the bank hereby selected.That this Ordinance shall become
effective October 1,1973,and shall remain in effect until itsrepeal by the
City Council of the City of Baytown.
INTRODUCED,READ andPASSED by a majortiy of the City Council on this 27th
day of September,1973.
TOM GENTRY,Mayor
ATTEST:
EDRTTOLIVER,City Clerk
APPROVED:
NEEL RICHARDSON,City Attorney
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