HomeMy WebLinkAboutRES 1981-033 RESOLUTION NO. 81-33
A RESOLUTION AWARDING A DEPOSITORY CON-
TRACT FOR THE HANDLING OF THE CITY'S
FUNDS PURSUANT TO AND IN ACCORDANCE
WITH TEX. REV. CIV. STAT. ANN. ART.
�� 2559-2566
,�; WHEREAS, the City did advertise and take bids for a
Depository Contract pursuant to and in accordance with Tex.
Rev. Civ. Stat. Ann. Art. 2559-2566; and
WHEREAS, the City did receive bids from the two (2)
banking institutions doing business within the City, which
bids substantially comply with the Bid Documents; and
WHEREAS, the City did review and study both bids and
find and conclude that American Bank of Commerce did offer
a bid containing the most favorable terms and conditions
for the handling of such funds; and
WHEREAS, the City is agreeable to entering into a
Depository Contract with American Bank of Commerce.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF GRAPEVINE, TEXAS:
Section 1. That all of the matters contained in the
"�� preamble are found to be true and correct and are incorpor-
ated herein as if copied in their entirety.
� Section 2. That the City does hereby award the Deposi-
tory Contract for handling of the City' s funds to American
Bank of Commerce for the period of October l, 1981 through
September 30, 1983.
Section 3. The City Attorney is instructed and direc-
ted to draft a contract for review and execution by American
Bank of Commerce and the City of Grapevine that incorporates
substantially the Bid submitted.
Section 4. That this resolution shall take effect from
and after its passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the lst day of September, 1981.
APPROVED:
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Mayor
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ATTEST:
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City Secret y
APPROVED AS TO FORM AND LEGALITY:
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City Attorney
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