HomeMy WebLinkAboutCity Council Resolutions (R-98-1338)-01/20/1998
RESOLUTION R-98-1348
A RESOLUTION PERMITTING THE CITY TO CONSIDER ACCEPTING PROPOSALS
FROM AND AWARDING A BANK DEPOSITORY CONTRACT TO A FINANCIAL
INSTITUTION CONDUCTING BUSINESS OUTSIDE THE CITY LIMITS OF
COLLEYVILLE IF THE FINANCIAL INSTITUTION MAINTAINS A PLACE OF BUSINESS
WITHIN THE STATE OF TEXAS
WHEREAS, the City of Colleyville, Texas desires to obtain bank depository services for
City funds at a financial institution; additionally, the City desires to obtain
high quality banking service at a reasonable cost using the following criteria
for selection: financial stability of the institution, price, special needs and
requirements of the City, past performance record with the City, willingness
to accept collateralization agreement, and evaluation of the financial
institution's ability to perform,
WHEREAS, to obtain the desired banking depository service, the City would like to
solicit proposals from area financial institutions outside the corporate limits
of the City of Colleyville,
WHEREAS, the City is now required to state its intent to solicit proposals outside the
corporate City limits per legislation in the Local Government Code Sec.
105.011,
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
COLLEYVILLE, TEXAS, THAT, the City is hereby declaring its intent to solicit depository
proposals from financial institutions inside and outside the corporate limits of the City of
Colleyville, if the financial institution maintains a place of business in the State of Texas,
and it may select as its depository a Texas financial institution doing business inside or
outside the corporate limits of the City of Colleyville.
AND SO IT IS RESOLVED:
Passed by a vote of \. ~ to 0 on the 20th day of c1n ILlJ..r1 ,1998.
Attest:
Q~MtJ~.
City Secretary
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Richard Newton
Mayor