HomeMy WebLinkAboutRES 2009-017 RESOLUTION NO. 2009-17
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS AUTHORIZING THE CITY MANAGER
TO EXECUTE A CITY DEPOSITORY CONTRACT AND
PROVIDING AN EFFECTIVE DATE
WHEREAS, the Texas Local Government Code, Chapter 105 authorizes
municipalities of the State to establish depositories for the deposit of City funds and
for banking services to be provided to the City; and
WHEREAS, the current City of Grapevine depository contract is expiring and
a new contract needs to be approved; and
WHEREAS, the City of Grapevine has advertised for applicants for
consideration as a City depository in accordance with the requirements of the Texas
Local Government Code, Section 105.012 and has evaluated the applications so
received.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GRAPEVINE, TEXAS:
Section 1. That all matters stated in the preamble are true and correct as if
copied herein in their entirety.
Section 2. That the City of Grapevine does hereby authorize the City
Manager to execute a City Depository Contract with Legacy Bank of Grapevine and
to executive and deliver a safekeeping agreement and any and all documents,
agreements or contracts necessary to complete the implementation of said
Depository Contract.
Section 3. That the term of said Depository Contract shall be to commence
on or before 12:01 A.M., June 1, 2009 and expire at 12:00 A.M. (Midnight), May 31,
2010; except that if the City is actively involved in soliciting applicants for a new
depository contract this contract shall continue in force until such new contract is
fully executed by all parties.
Section 4. That this resolution shall take effect from and after the date of
its passage.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS on this the 2nd day of June, 2009.
APPROVED:
William D. Tate
Mayor
ATTEST:
,C.4.
Lind Huff
City Secretary
APPROVED AS TO FORM:
John F. Boyle, Jr.
City Attorney
RES. NO. 2009-17 2