HomeMy WebLinkAboutResolution - 127 - Notice Of Bids To Bank, Custody Of City Funds As Depsository - 04/12/1979�,DGV:hw i RESO. #127 - 4/12/79
RESOLUTION
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK, TEXAS:
THAT the City Secretary BE and is hereby authorized and directed to publish
notice that bids will be received by the City of Lubbock from any banking cor-
poration, association or individual banker that may wish to be selected for
the custody of City of Lubbock funds as a depository for the City of Lubbock.
'Such notice shall be published in accordance with the requirements of Vernon's
Ann.Civ.St. art 2559.
°Passed by City Council this 12th day of
April 2 1979.
ATTEST,
-'Evelyn Gaff a City Sec to - easurer
APPROVED AS TO CONTENT:
Sterl/ED
Miller, Director of Finance
APPROAS TO FORM:
IJMMC-
DIRK WEST, MAYOR
II Donald G. Vandiver, First Asst. City Attorney
It
NOTICE TO BANKING INSTITUTIONS
WITHIN THE CITY OF LUBBOCK
NOTICE is hereby given that the Governing Body of the -City of Lubbock,
subject to the provisions of Article 2559 through Article 2566a, Revised
Civil Statutes of Texas, as amended, will receive applications from,all
interested banking institutions within the City of Lubbock to serve as
prime depository of the City of Lubbock and maintain custody of the funds
of the City for a period of years from award date through May 30,
Any such applications shall -'be delivered to the office of the City Secretary
in the City Hall prior to 10:00.a.m., to be opened publicly in that office
at 10:15 a.m., Monday April 30, 1979.
It is requested that each bank bid by filling in the appropriate blanks
for the various specifications which follow. Abid for.'less than all of the
City funds should be clearly labeled as such and the identity of the de-
sired funds specifically indicated.
Interest Rates
Demand Deposits
Open Savings Account (Interest paid from
date of deposit to date of withdrawal.)
Fixed Maturities and/or C.D.'s under $100..000.:
Thirty (30) Days
Sixty (60) Days
Ninety (90). Days
One Hundred Eighty (180) Days
One Year
Compounded how often?
When is interest paid?
Fixed Maturities and/or C.D.'s $100,000 and over:
Thirty (30) Days
Sixty (60) Days
Ninety (90) Days
Rate
One Hundred Eighty (180) Days
One Year
Compounded how often?
When is interest paid?
Charges, if any, for handling of checks and deposits
Charges, if -any, -for handling of temporary overdrafts
Rate of interest, if any, to be charged on loans and maximum loan limit
Rate of interest, if any, to be charged on warrants ..
In addition to the normal services and supplies furnished by the depository
bank, most of the following services are standard and common to depository con-
tracts. The City of Lubbock requests that these services be furnished, at no
charge, as a part of this proposal. Please delete those services which you
cannot offer and add any additional concessions or services which you may want
to offer to the City of Lubbock and make any comments as further consideration
in selecting the City's depository.
Foreign and Domestic Exchange
Paying Agent for Bonds
Bond and Coupon Service.
Wire Transfer Service
Parking Facilities
Safe Deposit Boxes
Coin Wrappers
Night Depository Service including Bags Keys
Traveler'.s and Cashier's Checks
Daily Balance on each Account
Detailed Monthly Statement of Outstanding
Certificates of Deposit as of Last Business Day
Detailed Monthly Statement of Other Outstanding
Investments as of Last Business Day
Delivery of Monthly Bank Statements
All monies which are deposited into the depository under the
provisions of this proposal shall be continuously secured, in accordance
with the laws of the State of Texas applicable thereto, by a valid
pledge of direct obligations each individually having a par value or
market value when less than par, so that when all securities are totaled
in aggregate, exclusive of accrued interest, are at all times at least
equal to the total amount of money on deposit in said several funds on
deposit in the depository, with the exception as indicated in Article 2566a.
Such securities so pledged shall be approved as to kind and value by
the governing body of the City of Lubbock. A detailed statement of
securities pledged.against,City deposits as of the last business day of
each month shall be required, with such statement to indicate both par
and market value of each pledged security.
If the City so desires it may purchase certificates of deposit with
maturity dates any time in the future. All time deposits or time certi-
_.,,ficates of deposit which have not elapsed on the termination date of the
finally approved depository contract, shall remain on deposit with the
same depository under the same terms and conditions in effect during said
contract until the date such time deposits have elapsed.
The City of Lubbock reserves the right to accept or reject any or all
bids, to waive formalities, and to accept the bid the City considers the
most advantageous. The City also reserves the right to place or invest
part or all of any surplus or excess funds outside the designated depository,
in any lawful manner as may be determined by the City Council, from time
to time throughout the term of the contract.
In the event it is desired to submit more than one proposal, the
terms of such proposal should be submitted on a duplicate bid sheet and
marked "ALTERNATE PROPOSAL".
Dated this seventeenth day of April, Nineteen Hundred Seventy -Nine.
E elyn Gaff a
- City Secretary/Treasurer
City of Lubbock, Texas
Name of Bank
By
Title
Date
DIRK WEST
MAYOR
CITY OF LUBBOCK
LUBBOCK. TEXAS
t
April 17, 1979
Mr. Howard Yandell, President
First National Bank
P. 0. Box 1241
Lubbock, Texas 79408
Dear Howard:
The enclosed bid forms are being mailed to you to solicit your bid
on the bank depository contract with the City of Lubbock. These
forms are being mailed to all nine of the banking institutions located
within the city.
We sincerely hope that you will consider this invitation and bid
competitively. Bids should be submitted by furnishing complete
information as requested on the bid forms. Alternate bids for
contract periods of no less than four years are acceptable.
Sealed bids will be received in the Office of the City Secretary
at City Hall until 10:00 a.m. on Monday, April 30, 1979, and then
will be publicly opened at 10:15 a.m. that morning. City Council
consideration of the bids will be included on the agenda of the.
regular City Council meeting on May 10, 1979.
We appreciate your interest in this matter. If there are any
questions concerning the bid, please do not hesitate to contact
Sterliing Miller, Director of Finance.
Sincerely,
*"-"�
AkWst
Mayor
DW: j s
Enclosures
DIRK WEST
MAYOR
CITY OF LUBBOCK
LUBBOCK, TEXAS
April 17, 1979
Mr. T. J. Wallace, President
Plains National Bank
P. 0. Box 271
Lubbock, Texas 79408
Dear T.J.:
The enclosed bid forms are being mailed to you to solicit your bid
on the bank depository contract with the City of Lubbock. These
forms are being mailed to all nine of the banking institutions located
within the city.
We sincerely hope that you will consider this invitation and bid
competitively. Bids should be submitted by furnishing complete
information as requested on the bid forms. Alternate bids for
contract periods of no less than four years are acceptable.
Sealed bids will be received in the Office of the City Secretary
at City Hall until 10:00 a.m. on Monday, April 30, 1979, and then
will be publicly opened at 10:15 a.m. that morning. City Council
consideration of the bids will be included on the agenda of the
regular City Council meeting on May 10, 1979.
We appreciate your interest in this matter. If there are any
questions concerning the bid, please do not hesitate to contact
Sterliing Miller, Director of Finance.
Sincerely,
Irk West
Mayor
DW:js
Enclosures
DIRK WEST
MAYOR
CITY OF LUBBOCK
LUBBOCK, TEXAS
April 17, 1979
Mr. Bill Horton, President
Southwest Lubbock National Bank
P. 0. Box 6100
Lubbock, Texas 79413
Dear Bill:
The enclosed bid forms are being mailed to you to solicit your bid
on the bank depository contract with the City of Lubbock. These
forms are being mailed to all nine of the banking institutions located
within the city.
We sincerely hope that you will consider this invitation and bid
competitively. Bids should be submitted by furnishing complete
information as requested on the bid forms. Alternate bids for
contract periods of no less than four years are acceptable.
Sealed bids will be received in the Office of the City Secretary
at City Hall until 10:00 a.m. on Monday, April 30, 1979, and then
will be publicly opened at -10:15 a.m. that morning. City Council
consideration of the bids will be included on the agenda of the
regular City Council meeting on May 10, 1979•
We appreciate your interest in this matter. If there are any
questions concerning the bid, please do not hesitate to contact
Sterliing Miller, Director of Finance.
Sincerely,
irk West
Mayor
DW: j s
Enclosures.
DIRK WEST
MAYOR
CITY OF LUBBOCK
LUBBOCK, TEXAS
April 17, 1979
Mr. Rodney -G. Joy,"President
Bank of the West
P. 0. Box 2898
Lubbock, Texas 79408
Dear Rodney:
The enclosed bid .forms are being mailed to you to solicit your bid
on the bank depository contract with the City of Lubbock. These
forms are being mailed to all nine of the banking institutions located
within the city.
We sincerely hope that you will consider this invitation and bid
competitively. Bids should be submitted by furnishing complete
information as requested on the bid forms. Alternate bids for
.contract periods of no less than four years are acceptable.
Sealed bids will be received in the Office of the City Secretary
at City Hall -until 10:00 a.m. on Monday, April 30, 1979, and then
will be publicly opened at 10:15 a.m. that morning. City Council
consideration of the bids will be included on the agenda of the
regular City Council meeting on May 10, 1979.
We appreciate your interest in this matter. If there are any
questions concerning the bid, please do not hesitate to contact
Sterliing Miller, Director of Finance.
Sincerely,
�i
irk West
Mayor
DW: j s
Enclosures
DIRK WEST
MAYOR
CITY OF LUBBOCK
LUBBOCK, TEXAS
April 17, 1979
Mr. Wayne Finnell,'President
Lubbock National Bank
P. 0. Box 421
Lubbock, Texas 79408
Dear Wayne:
The enclosed bid forms are being mailed to -you to -solicit your bid
on the bank depos.itory contract with the City of Lubbock. These
forms are being mailed to all nine of the banking institutions located
within the city.
We sincerely hope that you will consider this invitation and bid
competitively. Bids should be submitted by furnishing complete
information as requested on the bid .forms. Alternate bids for
contract periods of no less than four years are acceptable.
Sealed bids will be received in the Office of the City Secretary
at City Hall until 10:00 a.m. on Monday, April 30, 1979, and then
will be publicly opened at 10:15 a.m. that morning. City Council
consideration of the bids will be included on the agenda of the
regular City Council meeting on May 10, 1979.
We appreciate your interest in this matter. If there are any
questions concerning the bid, please do not hesitate to contact
Sterliing Miller, Director of Finance.
Sincerely,
Dirk West
Mayor
DW: j s
Enclosures
DIRK WEST
MAYOR
CITY OF LUBBOCK
LUBBOCK, TEXAS
April 17, 1979
Mr. Ransom Galloway, President
Texas Bank
P. 0. Box 1780
Lubbock, Texas 79408
Dear Ransom:
The enclosed bid forms are being mailed to you to solicit your bid
on the bank depository contract with the City of Lubbock. These
forms are being mailed to all nine of the banking institutions located
within the city.
We sincerely hope that you will consider this invitation and bid
competitively. Bids should be submitted by furnishing complete
information as requested on the bid forms. Alternate bids for
contract periods of no less than four years are acceptable.
Sealed bids will be received in the Office of the City Secretary
at City Hall until 10:00 a.m. on Monday,. April 30, 1979, and then
will be publicly opened at 10:15 a.m. that morning. City Council
consideration of the bids will be included on the agenda of the
regular City Council meeting on May 10, 1979. -
We appreciate -your interest in this matter. If there are any
questions concerning the bid, please do not hesitate to contact
Sterliing Miller, Director of Finance.
Sincerely,
Irk Wes
Mayor
DW: j s
Enclosures
DIRK WEST
MAYOR
CITY OF LUBBOCK
LUBBOCK, TEXAS
April 17, 1979
Mr. W. R. Collier,'President
American State Bank
P. 0. Box 1401
Lubbock, Texas 79408
Dear W.R.:
The enclosed bid forms are being mailed to you to solicit your bid
on the bank depository contract with the City of Lubbock. These
forms are being mailed to all nine of the banking institutions located
within the city.
We sincerely hope that you will consider this invitation and bid
competitively. Bids should be submitted by furnishing complete
information as requested on the bid forms. Alternate bids for
contract periods of no less than four years are acceptable.
Sealed bids will be received in the Office of the City Secretary
at City Hall until 10:00 a.m. on Monday, April 30, 1979, and then
will be publicly opened at 10:15 a.m. that morning. City Council
consideration of the bids.will be included on the agenda of the
regular City Council meeting on May 10, 1979.
We appreciate your interest in this matter. If there are any
questions concerning the bid, please do not hesitate to contact
Sterliing Miller, Director of Finance.
Sincerely,
D ... ""====
rk West
Mayor
DW: j s
Enclosures
DIRK WEST
MAYOR
CITY OF LUBBOCK
LUBBOCK, TEXAS
i
April 17, 1979
Mr. Doug -l -as Boren, President
Security National Bank
P. 0. Box 268
Lubbock, Texas 79408
Dear Doug:
The enclosed bid forms are being mailed to you to solicit your bid
on the bank depository contract with the City of Lubbock. These
forms are being mailed to all nine of the banking institutions located
within the city.
We sincerely hope that you will consider this invitation and bid
competitively. Bids should be submitted by furnishing complete
information as requested on the bid forms. Alternate bids for
contract periods of no less than four years are acceptable.
Sealed bids will be received in the Office of the City Secretary
at City Hall until 10:00 a.m. on Monday, April 30, 1979, and then
will be publicly opened at 10:15 a.m. that morning. City Council
consideration of the bids will be included on the agenda of the
regular City Council meeting on May 10, 1979.
We appreciate your interest in this matter. If there are any
questions concerning the bid, please do not hesitate to contact
Sterliing Miller, Director of Finance.
Sincerely,
Dirk West
Mayor
DW: j s
Enclosures
DIRK WEST
MAYOR
CITY OF LUBBOCK
LUBBOCK, TEXAS
April 17, 1979
Mr. Tommie Stevens, President
Texas Commerce Bank
P. 0. Box 841
Lubbock, Texas 79408
Dear Tommie:
The enclosed bid forms are being mailed to you to solicit your bid
on the bank depository contract with the City of Lubbock. These
forms are being mailed to all nine of the banking institutions located
within the city.
We sincerely hope that you will consider this invitation and bid
competitively. Bids should be submitted by furnishing complete
information as requested on the bid forms. Alternate bids for
contract periods of no less than four years are acceptable.
Sealed bids will be received in the Office of the City Secretary
at City Hall until 10:00 a.m. on Monday, April 30, 1979, and then
will be publicly opened at 10:15 a.m. that morning. City Council
consideration of the bids will be included on the agenda of the
regular City Council meeting on May 10, 1979•
We appreciate your interest in this matter. If there are any
questions concerning the bid, please do not hesitate to contact
Sterliing Miller, Director of Finance.
DW : j s
Enclosures
Sincerely,
irk West Vr
Mayor
COMPENDIUM
of
Related Financial Data
1959-60
1960-61
1961-62
1962-63
1963-64
1964-65
1965-66
1966-67
1967-68
1968-69
1969-70
1970-71
1971-72
1972-73
1973-74
1974-75
1975-76
1976-77
1977-78
Money
On Demand
$ 3,630,000
3,703,000
4,803,000
4,750,000
2,865,000
3,651,000
3,611,000
3,560,000
3,225,000
1,026,000
681,000
856,000
837,000
1,191,000
1,178,000
1,439,000
1,425,000
1,186,000
960,000
CITY OF LUBBOCK, TEXAS
History of Investment Program
Aver. Ratio
Aver. Total Average of Demand
Investments Total Funds To Total Funds
$ 3,914,000
3,058,000
3,407,000
3,610,000
6,465,000
6,718,000
7,968,000
8,328,000
8,653,000
13,282,000
17,480,000
18,551,000
22,456,000
25,572,000
37,110,000
36,093,000
32,088,000
33,108,000
31,703,000
$ 7,544,000
6,761,000
8,210,000
8,360,000
9,330,000
10,369,000
11,579,000
11,888,000
11,878,000
14,308,000
18,161,000
19,407,000
23,293,000
26,763,000
38,288,000
37,532,000
33,513,000
34,294,000
32,662,000
48.00%
55.00%
59.00%
57.00%
31.00%
35.00%
31.00%
30.00%
27.00%
7.18%
.3.75%
4.41%
3.59%
4.45%
3.14%
3.84%
4.25%
3.46%
3.03%
Aver.'Ratio
Of Investments
To Total Funds
52.00%
45.00%
41.00%
43.00%
69.00%
65.00%
69.00%
70.00%
73.00%
92.82%
96.25%
95.59%
96.41%
95.55%
96.86%
96.16%
95.75%
96.54%
96.97%
Interest
Earned on
Investments
$ 71,21!
84,64(
84,09:
110,40E
185,47(
207,48;
234,84E
295,78]
331,603
801,815
1,386,273
1,322,338
1,431,410
1,631,922
3,086,393
3,007,236
2,328,054
2,160,592
2,319,683
* Conversion from a business day basis to a 365 day fbasis for all computations was made for
the data beginning with FY 1974-75.
CITY OF LUBBOCK, TEXAS
AVERAGE MONTHLY FUND STATUS
Fiscal Year 1977-78
1978
January $
1,782,634.61
$32,155,993.43
$33,938,628.04
Percent All
February
Average Demand
Average Total
Average
Investments
1977
* and **
Investments**
Total Funds**
To Total
October
$ 2,063,959.77
$27,373,518.18
$29,437,540.96
92.99%
November
1,425,596.04
27,842,065.83
29,267,661.87
95.13%
December
1,423,150.97
28,453,256.97
29,876,407.94
95.24%
1978
January $
1,782,634.61
$32,155,993.43
$33,938,628.04
94.75%
February
914,895.89
36,642,068.79
37,556,964.68
97.56%
March
575,643.26
34,098,071.94
34,673,715.20
98.34%
April
678,825.21
33,835,406.20
34,514,231.41
98.03%
May
669,709.90
33,406,391.27
34,076,101.17
98.03%
June
489,708.46
32,670,482.58
33,160,191.04
98.52%
July
433,283.57
32,146,545.36
32,579,828.93
98.67%
August
451,851.22
31,793,534.49
32,245,385.71
98.60%
September
604,770.02
30,014,166.45
30,618,936.47
98.02%
AVERAGE $
959,502.41
$31,702,630.37
$32,662,132.79
96.97%
Total Interest Earned
$2,319,683
Average Effective
Yield on Invested Funds
7.32%
Average Effective
Yield on Total
Funds
7.10%
* As per Bank Balances
**Rounded to nearest thousand dollar
AVERAGE MONTHLY INVESTMENTS *
*Rounded to nearest dollar
**N/A --data was not available
1967
January
3,595,552
8,925,700
12,521,252
Average
Average
February
Average
Average
Average
% Demand
% Invest.
Month, Year
Demand
Investment
Total
/ Total
/Total
1966
3,286,646
10,526,097
13,812,743
23.80%
76.20%
January
N/A**
N/A**
N/A**
N/A**
N/A**
February
N/A**
N/A**
N/A**
N/A**
N/A**
March
N/A**
N/A**
N/A**
N/A**
N/A**
April
N/A**
N/A**
10,452,695
N/A**
N/A**
May
4,638,482
8,595,573
13,234,055
35.05%
64.95%
June
2,915,246
9,154,925
12,070,171
24.15%
75.85%
July
2,559,181
9,176,865
11,736,056
21.81%
78.19%
August
2,839,266-
8,646,000
11,485,266
24.72%
75.28%
September
3,825,063
7,139,364
10,964,427
34.89%
65.11%
October
4,282,072
6,436,839
10,718,911
39.95%
60.05%
November
4,262,406
7,056,417
11,318,823
37.66%
62.34%
December
3,569,781
7,537,325
11,107,106
32.14%
67.86%
1967
January
3,595,552
8,925,700
12,521,252
28.71%
71.29%
February
4,310,152
9,622,465
13,932,617
30.94%
69.06%
March
2,889,088
9,724,201
12,613,289
22.91%
77.09%
April
3,286,646
10,526,097
13,812,743
23.80%
76.20%
May
2,912,777
10,113,101
13,025,878
22.36%
77.64%
June
2,975,696
8,752,896
11,728,592
25.38%
74.62%
July
3,452,077
7,652,428
11,104,505
31.09%
68.91%
August
3,653,384
6,799,311
10,452,695
34.95%
65.05%
September
3,528,419
6,790,234
10,318,653
34.19%
65.81%
October
3,468,350
6,350,602
9,818,952
35.32%
64.68%
November
3,110,260
6,658,730
9,768,990
31.84%
68.16%
December
3,000,807
7,289,444
10,290,251
29.16%
70.84%
1968
January
3,978,749
7,729,127
11,707,876
33.98%
66.02%
February
4,284,882
9,022,671
13,307,553
32.20%
67.80%
March
3,498,782
8,124,818
11,623,600
30.10%
69.90%
April
2,948,215
8,331,173
11,279,388
26.14%
73.86%
May
3,140,221
11,386,064
14,526,285
21.62%
78.38%
June
2,461,101
11,018,662
13,479,763
18.26%
81.74%
July
2,362,307
10,614,808
12,977,115
18.20%
81.80%
August
N/A**
N/A**
N/A**
N/A**
N/A**
September
N/A**
N/A**
N/A**
N/A**
N/A**
October
N/A**
N/A**
N/A**
N/A**
N/A**
November
N/A**
N/A**
N/A**
N/A**
N/A**
December
1,182,459
11,221,958
12,404,417
9.53%
90.47%
1969
January
1,212,483
12,769,000
13,981,483
8.67%'
91.33%
February
1,063,481
14,501,000
15,564,481
6.83%
93.17%
March
590,500
13,764,379
14,354,879
4.11%
95.89%
April
860,245
13,251,740
14,111,985
6.10%
93.90%
May
518,561
15,117,304
15,635,865
3.32%
96.68%
June
587,261
14,209,486
14,796,747
3.97%
96.03%
July
479,857
14,352,653
14,832,510
3.24%
96.76%
August
358,537
15,549,735
15,908,272
2.25%
97.75%
September
412,885
16,001,196
16,414,081
2.52%
97.48%
October
420,142
16,094,095
16,514,237
2.54%
97.46%
AVERAGE MONTHLY INVESTMENTS*
*Rounded to nearest dollar
**N/A --data was not available
1971
January
1,278,946
18,564,650
19,843,596
Average
Average
February
Average
Average
Average
% Demand
% Invest.
Month, Year
Demand
Investment
Total
/Total
/Total
1969 (Cont.)
569,019
21,770,228
22,339,105
2.55%
97.45%
November
565,261
15,968,822
16,534,083
3.42%
96.58%
December
1,027,292
16,190,001
17,217,293
5.97%
94.03%
1970
498,166
19,249,305
19,747,471
2.53%
97.47%
January
1,041,608
17,609,453
18,651,061
5.58%
94.42%
February
1,424,328
18,452,662
19,876,990
7.17%
92.83%
March
462,012
17,907,441
18,369,453
2.52%
97.48%
April
575,552-
17,113,012
17,688,564
3.25%
96.75%
May
688,383
19,118,475
19,806,858
3.48%
96.52%
June
458,686
18,398,969
18,857,655
2.43%
97.57%
July
512,229
18,150,243
18,662,472
2.74%
97.26%
August
336,273
17,453,994
17,7903,267
1.89%
98.11%
September
665,717
16,860,043
17,525,760
3.80%
96.20%
October
1,081,759
16,447,809
17,529,568
6.17%
93.83%
November
872,399
17,062,400
17,934,799
4.86%
95.14%
December
1,395,908
17,230,537
18,626,445
7.49%
92.51%
1971
January
1,278,946
18,564,650
19,843,596
.6.45%
93.55%
February
1,257,115
18,997,676
20,254,791
6.13%
93.87%
March
N/A**
17,381,291
N/A**
3.05%
96.95%
April
569,019
21,770,228
22,339,105
2.55%
97.45%
May
899,627
20,776,338
21,675,965
4.12%
95.88%
June
404,377
19,511,355
19,915,732
2.02%
97.98%
July
498,166
19,249,305
19,747,471
2.53%
97.47%
August
597,663
18,541,071
19,138,733
3.12%
96.88%
September
861,293
17,031,903
17,893,196
4.81%
95.19%
October
823,952
17,387,532
18,211,484
4.52%
95.48%
November
721,643
17,586,471
18,308,114
3.94%
96.06%
December
783,079
18,004,567
18,787,645
4.17%
95.83%
1972
January
1,116,226
19,174,376
20,290,602
5.50%
94.50%
February
1,831,506
20,198,650
22,030,156
8.31%
91.69%
March
529,304
18,735,000
19,264,121
2.75%
97.25%
April
720,946
27,424,000
28,144,946
2.56%
97.44%
May
758,446
28,905,000
29,663,355
2.56%
97.44%
June
366,790
27,556,727
27,923,517
1.31%
98.69%
July
1,219,720
25,710,400
26,930,120
4.53%
95.47%
August
868,337
24,967,609
25,835,946
3.36%
96.64%
September
822,161
23,704,000
24,526,161
3.35%
96.65%
October
1,257,480
23,115,000
24,372,480
5.16%
94.84%
November
1,392,520
22,784,837
24,177,357
5.76%
94.24%
December
1,163,199
23,990,957
25,154,156
4.62%
95.38%
1973
January
1,667,471
26,554,784
28,222,255
5.91%
94.09%
February
1,903,202
28,049,820
29,953,022
6.35%
93.65%
March
1,567,270
25,488,920
27,055,190
5.79%
94.21%
April
548,928
25,683,293
26,232,220
2.09%
97.91%
May
717,302
24,406,636
25,123,939
2.86%
97.14%
AVERAGE MONTHLY INVESTMENTS *
*Rounded to the nearest dollar
**N/A --data was not available
1974
January
1,660,164
35,219,011
36,887,598
Average
Average
February
Average
Average
Average
% Demand
% Invest.
Month, Year
Demand
Investment
Total
/Total
Total
1973 (Cont.)
882,320
43,723,388
44,605,708
1.97%
98.03%
June
570,817
22,936,808
23,507,626
2.49%
97.51%
July
1,433,618
22,476,754
23,910,371
6.00%
94.00%
August
1;173,611
29,229,585
30,403,196
3.89%
96.11%
September
892,182
32,155,235
33,047,417
2.70%
97.30%
October
1,220,902
31,720,707
32,941,609
3.71%
96.29%
November
1,550,452
32,204,014
33,754,466
4.60%
95.40%
December
1,680,397
32,203,656
33,812,054
4.71%
95.29%
1974
January
1,660,164
35,219,011
36,887,598
4.51%
95.49%
February
1,133,551
37,044,136
38,177,688
2.96%
97.04%
March
992,285
33,574,370
36,154,923
2.74%
97.26%
April
882,320
43,723,388
44,605,708
1.97%
98.03%
May
956,813
41,906,982
42,863,795
2.23%
97.77%
June
1,168,964
39,480,899
40,649,864
2.73%
97.12%
July
1,019,529
40,045,899
41,065,429
2.48%
97.57%
August
.969,878
39,140,035
40,109,914
2.42%
97.58%
September
973,243
37,441,399
38,414,643
2.53%
97.47%
October
902,273
36,840,981
37,743,238
2.39%
97.61%
November
1,036,330
35,832,886
36,869,216
2.81%
97.19%
December
1,128,168
35,449,124
36,577,292
3.08%
96.92%
1975
January
1,195,770
38,459,887
39,655,657
3.02%
96.98%
February
930,714
39,317,781
40,248,495
2.31%
97.69%
March
749,103
35,663,976
36,413,079
2.06%
97.94%
April
1,285,424
39,316,250
40,601,674
3.17%
96.83%
May
1,607,467
38,214,855
39,822,322
4.04%
95.96%
June
2,152,303
35,865,737
38,018,040
5.67%
94.33%
July
1,410,553
35,013,248
36,423,801
3.87%
96.13%
August
1,676,863
.33,392,755
35,069,618
4.78%
95.22%
September
1,367,580
31,545,400
32,912,980
4.16%
95.84%
October
1,346,590
32,051,162
33,397,752
4.03%
95.97%
November
1,445,845
30,791,926
32,237,771
4.48%
95.52%
December
1,745,517
32,172,746
33,918,263
5.14%
94.86%
1976
January
1,755,013
35,164,679
361-919,692
4.75%
95.25%
February
1,848,547
36,580,363
38,428,910
4.81%
95.19%
March
1,274,970
33,450,163
34,725,133
3.67%
96.33%
April
1,499,270
32,492,260
33,991,530
4.41%
95.59%
May
1,277,970
31,908,227
33,186,197
3.85%
96.15%
June
1,182,710
30,710,593
31,893,303
3.71%
96.29%
July
1,312,440
30,375,486
31,687,926
4.14%
95.86%
August
1,139,853
30,471,429
31,611,282
3.61%
96.39%
September
1,268,605
.28,890,933
30,159,538
4.21%
95.79%
October
1,339,856
32,724,375
34,064,231
3.93%
96.07%
November
1,229,006
32,696,851
33,925,857
3.62%
96.39%
December
2,041,805
32,390,600
34,432,405
5.93%
94.07%
1977
January
970,223
35,962,180
36,932,403
2.63%
97.37%
AVERAGE MONTHLY INVESTMENTS *
*Rounded to nearest dollar
**N/A --data was not available
1978
January
1,782,635
32,155,993
33,938,628
Average
Average
February
Average
Average
Average
% Demand
% Invest.
Month/Year.
Demand
Investment
Total
/Total
/Total
1977 (Cont.)
678,825
33,835,406
34,514,231
1.97%
98.03%
February
1,156,735
38,408,834
39,565,569
2.92%
97.08%
March
1,032,992
36,385,789
37,418,781
2.77%
97.23%
April
1,199,876
33,674,384
34,874,260
3.44%
96.56%
May
1,420,590
31,988,761
33,409,351
4.25%
95.75%
June
780,590
31,966,284
32,746,874
2.38%
97.62%
July
1,151,785
31,461,181
32,612,966
3.53%
96.47%
August
918,547
31,066,811
31,985,358
2.87%
97.13%
September
988,999_
28,568,900
29,557,899
3.35%
96..65%
October
2,056,194
28,908,657
30,964,851
6.66%
93.34%
November
1,425,596
27,842,066
29,267,662
4.87%
95.13%
December
1,423,151
28,453,257
29,876,408
4.76%
95.24%
1978
January
1,782,635
32,155,993
33,938,628
5.25%
94.75%
February
914,896
36,642,069
37,556,965
2.44%
97.56%
March
575,643
34,098,072
34,673,715
1.66%
98.34%
April
678,825
33,835,406
34,514,231
1.97%
98.03%
May
669,710
33,406,391
34,076,101
1.97%
98.03%
June
489,708
32,670,483
33,160,191
1.48%
98.52%
July
433,284
32,146,545
32,579,829
1.33%
98.67%
August
451,851
31,793,534
32,245,386
1.40%
98.60%
September
604,770
30,014,166
30,618,936
1.98%
98.02%
October
546,974
32,119,753
32,666,727
1.67%
98.33%
November
731,971
32,987,725
33,719,696
2.17%
97.83%
December
1,023,798
33,620,032
34,643,830
2.96%
97.04%
1979
January
981,136
36,676,240
37,657,376
2.61%
97.39%
February
654,151
39,906,964
40,651,115
1.61%
98.39%
March
492,126
38,109,871
38,601,997
1.27%
98.73%
NOTICE TO BANKING INSTITUTIONS
WITHIN THE CITY OF LUBBOCK
NOTICE is hereby given that the Governing Body of the -City of Lubbock,
subject to the provisions of Article 2559 through Article 2566a, Revised
Civil Statutes of Texas, as amended, will receive applications from all
interested banking institutions within the City of Lubbock to serve as
prime depository of the City of Lubbock and maintain custody of the funds
of the City for a period of years from award date through May 30,
Any such applications shall Ue delivered to the office of the City Secretary
in the City Hall prior to 10:00.a'.m., to be opened publicly in that office
at 10:15 a.m., Monday April 30, 1979.
It is requested that each bank bid by filling in the appropriate blanks
for the various specifications which follow. A bid for less than'all of the
City funds should be clearly labeled as such and the identity of the de-
sired funds specifically indicated.
Interest Rates
Demand Deposits
Open Savings Account (Interest paid from
date of deposit to date of withdrawal.)
Fixed Maturities and/or C.D.'s under $100.,000.:
Thirty (30).Days
Sixty (60).Days
Ninety (90). Days
One Hundred Eighty (100). Days
One Year
Compounded how often?
When is interest paid?
Fixed Maturities and/or C.D.'s $100,000.and over:
Thi rty (30). Days
Sixty (60) Days
Ninety (90) Days
One Hundred Eighty (180).Days
One Year
Compounded how often?
........ ....
When is interest paid?
Charges, if any, for handling of the
and deposits - -
Charges, if any, for handling of temporary overdrafts
Rate of interest,. if any, to be charged on loans and maximum loan limit
..............................
Rate of interest, if any, to be charged on warrants "
In addition to the normal services and supplies furnished by the depository
bank, most of the following services are standard and common to depository con-
tracts. The City of.Lubbock requests that these services be furnished, at no
charge, as a part of this proposal. Please delete those services which you
cannot offer and add any additional concessions or services which you may want
to offer to the City of Lubbock and make any comments as further consideration
in selecting the City's depository.
Foreign and Domestic Exchange
Paying Agent for Bonds
Bond and Coupon Service
Wire Transfer Service
Parking Facilities
Safe Deposit Boxes
Coin Wrappers
Night Depository Service including Bags & Keys
Traveler's and Cashier's Checks
Daily Balance on each Account
Detailed Monthly Statement of Outstanding
Certificates of Deposit as of Last Business Day
Detailed Monthly Statement of Other Outstanding
Investments as of Last Business Day
Delivery of Monthly Bank Statements
.................. .......
All monies which are deposited into the depository under the
provisions of this proposal sha l.1 be continuously secured, in accordance
with the laws of the State of Texas applicable thereto, by a valid
pledge of direct obligations each individually having a par value or
market value when less than par, so that when all securities are totaled
in aggregate, exclusive of accrued interest, are at all times at least
equal to the total amount of money on deposit in said several funds on
deposit in the depository, with the exception as indicated in Article 2566a.
Such securities so pledged shall be approved as to kind and value by
the governing body of the City of Lubbock. A detailed statement of
securities pledged against City deposits as of the last business day of
each month shall be required, with such statement to indicate both par
and market value of each pledged security.
If the City so desires it may purchase certificates of deposit with
maturity dates any time in the future. All time deposits or time certi-
ficates of deposit which have not elapsed on the termination date of the
finally approved depository contract, shall remain on deposit with the
same depository under the same terms and conditions in effect during said
contract until the date such time deposits have elapsed.
The City of Lubbock reserves the right to accept or reject any or all
bids, to waive formalities, and to accept the bid the City considers the
most advantageous. The City also reserves the right to place or invest
part or all of any surplus or excess funds outside the designated depository,
in any lawful manner as may be determined by the City Council, from time
to time throughout the term of the contract.
In the event it is desired to submit more than one proposal, the
terms of such proposal should be submitted on a duplicate bid sheet and
marked "ALTERNATE PROPOSAL".
Dated this seventeenth day of April, Nineteen Hundred Seventy -Nine.
EAtelyn Gafffa'
City Secretary/Treasurer
City of Lubbock, Texas
Name of Bank
By
Title
Date
- _ 1
r
THE STATE OF TEXAS
COUNTY OF LUBBOCK
Before me Ma r i I Y n Pierce a Notary Public in and for Lubbock County, Texas on this day
personally appeared J. C. Rickman, Business Manager of the Southwestern Newspa-
pers Corporation, publishers of the Lubbock Avalanche -Journal — Morning, Evening and Sunday, who
being by me duly sworn did depose and say that said newspaper has been published continuously foro e
than fifty-two weeks prior to the first insertion of this Le ! a I Notice - 125 words (a Lz3 f
Per word - 528.75 No. 915490 at Lubbock County, Texas and the attached print-
ed copy of the No t i c e is a true copy of the original and was printed in the Lubbock
Avalanche -Journal on the following dates: April 13 r 1979.
LUBBOC ALANCHE-JOURNAL
Southwestern Newspapers Corporation
Subscribed and sworn to before me this 17t day of AP ri I79
tryv
MARILYN PIERCE
MY COMMISSION EXPIRES FEB, i, 1980
Notary Public in and for Lubbock County, Texas