HomeMy WebLinkAboutRES 2004-019 RESOLUTION NO. 2004-19
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GRAPEVINE, TEXAS, AUTHORIZING THE CITY MANAGER
TO EXECUTE A CITY DEPOSITORY CONTRACT WITH
TEXASBANK OF GRAPEVINE 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 the TexasBank of Grapevine and to execute
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., May 5, 2004 and expire at 12:00 A.M.(Midnight), April 30,
2009; except, that if the City is actively involved in soliciting applicants for a new
depository contract, that 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 4th day of May, 2004.
APPROVED:
William D. Tate
Mayor
ATTEST:
.5tris
Linda Huff
City Secretary
APPROVED AS TO FORM:
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Michael K. Kailas
Assistant City Attorney
RES. NO. 2004-19 2