Laserfiche WebLink
• <br />future, instances where a municipality may not receive an <br />.application from two or more banks located within the city to <br />• accept the funds of such municipality on any terms, thus making it <br />impossible for such municipality to comply with the present law, <br />and <br />WHEREAS, the end result of the application of such <br />restrictive statutory provisions is to reduce municipal revenues, <br />thus penalizing the citizens and taxpayers of the State of Texas, <br />and <br />WHEREAS, to insure a more competitive procedure and to give <br />the citizens and taxpayers a better return of their tax monies, <br />the proviso and restriction of Article 2559, which limits the <br />right of a city having two or more banking institutions within the <br />city from having a depository other than one or two of such banks <br />should be amended or, in the alternative, repealed, now therefore. <br />BE IT RESOLVED by the Harris County Mayors and Councils <br />• Association and the Mayor and Council of the City of La Porte, <br />duly assembled that to rekindle and reinstate the competitive <br />bidding for the rights of a bank to be a municipal depository, the <br />following portion of Article 2559 should be~amended by repealing: <br />". provided, however, that if any city has <br />two or more banking institutions doing business <br />within the city, the city shall consider bids <br />and applications from only those institutions." <br />PASSED AND APPROVED by the Mayor and City Council of the City, of <br />La Porte, this the r~~ of April, 1984. <br />APPROVED <br />. . <br />MAYOR <br />• ATTEST: <br />v <br />~.l <br />,, <br />