RE 2015-1027.1
A RESOLUTION OF THE CITY OF COPPELL, TEXAS
RESOLUTION NO. 2015-1027.1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF COPPELL, TEXAS,
APPROVING THE BANK DEPOSITORY AGREEMENT AND DESIGNATING FROST
BANK AS THE CITY DEPOSITORY; AUTHORIZING THE CITY MANAGER TO
EXECUTE SUCH AGREEMENT; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS,
the City has given notice and requested proposals from all the banks doing
business within the City for provision of the City’s depository and banking services, and
WHEREAS,
applications were received, opened and publicly accepted on August 27, 2015;
and
WHEREAS,
after review and consideration of the proposals received, it is the determination
of the City Council that Frost Bank be designated as the City Depository.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF COPPELL, TEXAS:
SECTION 1.
That Frost Bank be designated as the bank depository of the City of Coppell for depository
and banking services; and, that the City Manager is hereby authorized to execute the agreement
which is attached hereto and any other documents necessary to enter into the Depository Agreement
designating Frost Bank as the City’s Depository Bank. This agreement is for a five (5) year period
beginning December 1, 2015 and ending November 30, 2020.
SECTION 2.
That the bank shall qualify as a Depository by providing security for the City’s funds to
be deposited with the bank within five (5) days after the date of the execution and return of the
resolution to the bank in accordance with State Law.
SECTION 3.
This Resolution shall take effect immediately from and after its passage, as the law and
charter in such cases provide.
DULY PASSED AND ADOPTED
by the City Council of the City of Coppell, Texas, on the
th
27 day of October, 2015.
1
CIT OF COPPELL, TEXAS
Gary R••en, Mayor Pro Tern
ATTEST:
hristel Pettmos, City Secretary
APPROVED AS TO FORM:
City Attorney /
2
TM 45396.2.92110