Loading...
HomeMy WebLinkAboutRES 900455 - Joint Safekeeping AccountRESOLUTION NO, qC0 A RESOLUTION TO CONTRACT WITH THE FEDERAL RESERVE BANK OF DALLAS AND NCNB TEXAS NATIONAL BANK FOR A JOINT SAFEKEEPING ACCOUNT AND TO AUTHORIZE PERSONS TO rSIGN TRANSACTIONS WITH THE FEDERAL RESERVE BANK OF DALLAS, AND AUTHORIZING THE MAYOR TO SIGN AND THE CITY SECRETARY TO ATTEST. WHEREAS, the City ofGeorgetown has appointed NCNB Texas National Bank ("NCNB") as its depository for the two years beginning October 1, 1990; and WHEREAS, as depository, NCNB is required to provide specified collateral for City deposits and WHEREAS, NCNB and the City of Georgetown wish to contract with the Federal Reserve Bank of Dallas for the safekeeping of such collateral; and WHEREAS, the City Council of the City of Georgetown wishes to authorize persons to sign transactions with the Federal Reserve Bank of Dallas; NOW THEREFORE, BE IT RESOLVED, by the City Council of the City of Georgetown, Texas: SECTION S, That the recitals set forth above are true and correct and incorporated herein verbatim, SECTION II. That the City Council authorizes the Mayor to sigh and the City Secretary to attest the Application to the Federal Reserve Bank of Dallas for the holding of securities in joint safekeeping from October 1, 1990, throughSeptember 30, 1991, SECTION III That the City's Director of Finance and Administration, the City Manager and the Mayor be authorized individually to sign transactions involving joint safekeeping with the Federal Reserve Bank of Dallas, PASSED AND APPROVED this 25th day of September, 1990, APPROVED: ATTEST: APPROVED AS TO FORM; vc / LL W. H. Connor Elizabeth Gray Marianne Landers Banks Mayor City Secretary CityAttorney