Ordinance No. 3,0551 0 1 0 8- 2
O RD S N I.N. N C E NO _ 3 0 5 5
AN ORDINANCE APPROVING THE BAYTOWN ARE A WAT E R A€7TH OR I TY S
S E LE C T I ON OF DEP O S =TORY �'OR THE AUTHORITY S FUND S
WH E RF A S p u r s u a n t t o t h e p r o v i s i o n s o f H o u s e B i l l N o
967 enacted by the 63rd L.egislaturc of tyre State of Texas ,
the F3oard of Directors of the T3 EA- ytown Arca Water Authority
is authorized, with prior approval of the City Council of
tlae City of Bay -town to select a depository for the funds of
t h e Au t h o r i t y a r d
WHEREAS after due notice , applica-tions for selections
a s t h e A u t h o r i t y' s d e p o s i t o r y we r e r e c e i v e d a n d
WHE RE A S t h e B o a r d o f D i t e c t o r s o f t h e B a y t o w n A r e a
Water Authors -ty found that the application of People's StatB
Bank offers tiie most favorable terms grid conditions for the
h:--Lndung of the Authority ' s funds and subj oct to approves 1
o f C i t y C o u n c i l, h a s s o 1 e c t a c1 P e o p l e s S t a t e B a n k a s t h e
depository for the Authority s fun cis ; and
WHEREAS the City Council of the City of Baytowrz con-
c u r s t h a t P e o p l e s S t a t e B a n k h a s o f f B r e d f a v o r ab l e -t e r m s
aril coriciit ions for the 1-i fa- nd-IL 7L r3g of the Authority s funds and
w i s h e s t o a p p =,C> v e i t s s a 1 e c t i o n; NOW T 3E R E F ORE ,
BE I T ORDAINED 73Y THE C ITY CdL7NC I L dF THE CT TY OF
BAYTOWi� _
Section 1 That the City Council of thB City of Bay-tourn
hereby approves tlne selection of Peop1P s State Barnl� as
d e p o s i t o r y f o r t h e B a y t o w rz A r a n W a t e r A u t h o r i t y_
Sec -t iori 2 _ This o jr- dirzarrce asses 11 ta1c-a of f ect from and
a f t e r i t s p a s s a g e_
INTRODUCED , RFAD and PASSED by t Ire of f i wriest ive vot e of
the City Council of the City of Bay town on tYris 8th day of
-Tarn -Lx ar57 1981 _
ri u '1"1'v , a2 a y o r
ATTEST:
EFLEEN P. HALL, City Clerk
10108 -2a
APPROVED:
RANDALL B. STRONG, City Attorney
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