Ordinance No. 1,875'■6l3k -
ORDINANCE NO.1875
AN ORDINANCE OF THE CITY COUNCIL OFTHECITY OF BAYTOWN,
DESIGNATING CITIZENS NATIONAL BANK AND TRUST COMPANY AS
THE DEPOSITORY OF THE FUNDS OFTHE CITY OF BAYTOWN FOR
A PERIOD BEGINNING OCTOBER 1,1975 AND ENDING SEPTEMBER
30,1977,BOTH DATES INCLUSIVE;AUTHORIZING AND DI
RECTING THE MAYOR AND CITY CLERK TO EXECUTE A CONTRACT
BETWEEN SUCH BANK AND THE CITY OF BAYTOWN;INCORPORATING
THE PERTINENT PROVISIONS OF THEBID PROPOSAL AND BID;
DIRECTING THE CITY TREASURER TO MAINTAIN THE CITY
DEPOSITORY,AS DESIGNATED,IN THE CITIZENS NATIONAL
BANK AND TRUST COMPANY,AND PROVIDING FORTHE EFFECTIVE
DATE HEREOF.
f WHEREAS,on the 11th day of September,1975,Citizens
NationalBank and Trust Company was selected by Ordinance
No.1866 as the Depository for the funds of the City of
Baytown for a period beginning October 1,1975 and ending
September 30,1977,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 and Trust Company has
qualified as Depository by pledging for the purpose of
securing the City funds sureties as required by Article
2560,Vernon's 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 OF THE CITY OF
BAYTOWN:
Section 1:That Citizens National Bank and Trust
Company,Baytown,Texas,is hereby accepted and made the
Depository for the funds of suchCity for a period,beginning
October 1,1975 and ending September 30,1977,both dates
inclusive,by virtue of the fact that suchbank has offered
the bid which is most advantageous to the City of Baytown
and its citizens.
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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 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 of interest on the principal of bonds heretofore or
hereafter required by ordinance to be maintained in another
financialinstitution,and to keep,according to law,said
funds in such bank until October 1,1977 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 designated.
Thatthis Ordinance shall become effective October 1,1975,
and shall remain in effect until its repeal by the City
Council of the City of Baytown.
INTRODUCED,READ and PASSED by a majority of the City
Council on this 25th day of September,1975.
TOM GENTRY,Mayor
ATTEST:
EDNA OLIVER,City Clerk
APPROVED:
NE Attorney
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