Laserfiche WebLink
<br />e <br /> <br />e <br /> <br />If a holiday falls on Friday, the sale will occur on the preceding <br /> <br />Thursday. If a holiday falls on Monday, the repurchase will occur <br /> <br />on the following Tuesday. The City will determine the amount of <br /> <br />demand deposit balances available for weekend investment repurchase <br /> <br />agreement. Repurchase transactions are to be recorded in the <br /> <br />City bank accounts by bank debit or credit memo, with notification <br /> <br />by telephone and with confirmations in writing mailed to the City. <br /> <br />Interest rates on repurchase agreements shall be based on an <br /> <br />average of the rates offered by two banks in Houston as will be <br /> <br />specified by the City. Interest earnings resulting from each <br /> <br />repurchase agreement shall be paid to the City on the day of <br /> <br />repurchase by crediting the account from which the principal <br /> <br />was charged. <br /> <br />The City reserves the right to enter into repurchase ag reements <br /> <br />during weekdays for periods of time longer than weekends with <br /> <br /> <br />the same time provisiosn as specified for the weekend repurchase <br /> <br /> <br />agreements as stated above. <br /> <br />Please specify any charges that may be involved in the handling <br />of a repurchase agreement transaction: <br /> <br />-14- <br />