1965 09 16 CC Minutes, Special4007
MINUTES OF THE SPECIAL MEETING OF
THE CITY COUNCIL OF THE CITY OF BAYTOWN
September 16, 1965
The City Council of the City of Baytown, Texas met in special session on Thurs-
day, September 16, 1965 at 5:00 p.m. in the Council Room of the Baytown City Hall
with the following members in attendance:
J.- Robert Barnes Councilman
C. M. Massey Councilman
Don M. Hullum Councilman
A. M. Braswell Councilman
J. C. Huron Councilman
Raymond T. Donnelly Councilman
Seaborn Cravey Mayor
Fritz Lanham City Manager
J. B. LeFevre Director of Finance
The Mayor called the meeting to order for the purpose of opening the depos -.
itory bids on the funds of the City of Baytown. The Mayor stated that the bids
would be opened and read at this meeting and would then be studied and a deci-
sion made at a later date. Mr. LeFevre, Director of Finance, was asked to open
the bids, The proposals follow:
October 1, 1965
through
September 30, 1%7
FIRST NATIONAL BANK
I. RATE OF Interest on Time Deposits., 4!2 %
A. Interest per annum compounded quarterly on time
deposits having a maturity date twelve months or
more after the date of deposit or payable upon
written notice of twelve nonths or more.
B. Interest per annum compounded quarterly on time depo-
sits having a maturity date six months or more after
the date of deposits or payable upon written notice
of six months or more. 416 %
C. Interest per annum compounded quarterly on time
deposits having a maturity date less than six
months and not less than ninety days after the
date of deposit or payable upon written notice
of less than six months and not less than ninety
days. 4$
D. Interest per annum compounded quarterly on time
deposits having a maturity date less than ninety .
days after the date of deposits and not less than
thirty days after date of deposits or payable
upon written notice of less than ninety days and
not less than thirty days. 9 %
II.
Rate of Interest on Warrants Purchased:
0 %
�.
III.
Rate of Interest on Advances:
O__%
IV.
Rate of Interest on $300.000 par value City of Baytown
General Obligation Bonds voted on March 6. 1965 and due
within 6 months:
0 %
V.
Other Considerations:
18 Items
4008
PEOPLES STATE BANK
I. Rate of Interest on Time Deposits:
A. Interest per annum compounded quarterly on time
deposits having a maturity date twelve months or
more after the date of deposit or payable upon
written notice of twelve months or more. 4Y2___%
B. Interest per annum compounded quarterly on time de -.
posits having a maturity date six months or more.after
the date of deposits or payable upon written notice
of six months or more. 4!6 %
C. Interest per annum compounded quarterly on time
deposits having a maturity date less than six
months and not less than ninety days after the
date of deposit or payable upon written notice
of less than six months and not less than ninety
days. 02 %
D. Interest per annum compounded quarterly on time
deposits having a maturity date.less than ninety
days after the date of deposits and not less than
thirty days after date of deposits or payable .
upon written notice of less than ninety days and
not less than thirty days. 4 �6
II.
Rate
of
Interest
on Warrants Purchased:
0 %
III.
Rate
of
Interest
on Advances:
0 %
IV.
V. Other Considerations:
10 Items
CITIZENS NATIONAL BANK & TRUST COMPANY
I. Rate of Interest on Time Deposits:
A. Interest per annum compounded quarterly on time
deposits having a maturity date twelve months or
more after the date of deposit or payable upon
written notice of twelve months or more.
B. Interest per annum compounded quarterly on time de-
posits having a maturity date six months or more after
the date of deposits or payable upon written notice of
six months or more. 4Y2 %
C. Interest per annum compounded quarterly on time
deposits having a maturity date less than six
months and not less than ninety days after-the
date of deposit or payable upon written notice
of less than six months and not less than ninety
days. 4Y2 %
D. Interest per annum compounded quarterly on time
deposits having a maturity date less than ninety
days after the date of deposits and not less than
thirty days after date of deposit or payable up-
on written notice of less than ninety days and
not less than thirty days. 4 %
4009
CITIZENS NATIONAL BANK & TRUST COMPANY (cant)
II.
Rate
of
Interest
on
Warrants Purchased:
zero %
III.
Rate
of
Interest
on
Advances:
zero %
IV. Rate of Interest on $300.000 oar value City of Baytown
General Obligation Bonds voted on March 6. 1965 and
due within 6 months: zero %
V. Other Considerations:
21 Items
Civil Defense - Purchase Truck
Councilman Barnes moved to grant permission to the Civil Defense Organiza-
tion to purchase a six wheel heavy duty maintenance truck for use by the Civil
Defense, the cost being $ 300.00 Dollars. Councilman Donnelly seconded the mo-
tion. The vote follows:
Ayes: Councilmen Barnes, Massey, Hullum, Braswell, Huron and Donnelly.
Mayor Cravey
Nays: None
Budget Hearino
Hearing on. the 1965 -66 budget was set for Tuesday, September 21, 1%5.
There being no further business to come before the Council, the Mayor
declared the meeting adjourned.
Edna Oliver, City Clerk Jaun' a Rawlinson, Acint City Clerk
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