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rnMMi5Si0N R 0 RT AGENDA REDDEST
• pl FA~F.`-~Qti~SH OhE ORIGihAL AND Fl VF ('OPIES OF THIS REOl1E5T AND DOCl1MENT5
^~~i~c~~FD BV THE [OURT.
E BY: =tiara Nemec
riAo
Feb. 12, 1995
MEETING DATE.
SUBJECT: tPEEASE HE SPECiFiC~;
OFFICE:
Treasurer
TIME PREFERRED:
A.M.
' ion of extension of depository
Considerat
' State Bank until May 1996•
ct with Security
EXECUTI vE SESSION REQUESTED: PLEASE STATE REASON
10 min.
ESTIMATED LENGTH OF PRESENTATION:
1 F PERSONNEi. MATTER -NAME of EM PLoYEE:
PERSON ADDRESSING THE COURT: Ba tiara Nemec
NAME OF
Time for submitting this request for Court to assure that the matter is posted in
accordance with Article 6252-17 is as follows:
• Meetings held on Tuesday; 12:00 P, C1. previous Wednesday
THiS REflUEST RECFI VED 8Y:
TH i S REQUEST RECEIVED ON:

All Agenda Requests will be screened by the County Judge's Oftice to determine 1
adequate lntormatlon has been prepared for the Court's formal consideration and action a
time of Court meetings. Your cooperation will be appreciated and co~trlbute toward:
your request being addressed at the earnest opportunity. See Agenda Request Gufdellnes.
.`~*•/~
E~~/ li'~~/C/
COUNTY TREASURER
KERB COUNTY COURTHOUSE
KERRVILLE, TEXAS 78028
February 7, 1996
Commissioners Court
Kerr County
Kerrville, Texas 78028
Dear Gentlemen:
Our depository contract with Security State Bank has now
expired. This is a request for approval to extend this
contract until May 1997 (see section 116.021 Dep~~it6ry
and Subdepository~contracts-copy attached).
I have discussed this with Linda from Security State Bank.
She has informed me all they would need is a Court Order
for approving such extension.
Sincerely,
~~ ~
Barbara Nemec
Bill Number: TX74RHB 1907
ENROLLED
AN ACT
Date: 4/27/95
relating to depositories for county public funds, trust funds,
and court registry funds.
BE IT ENACTED BY THE. LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 116.021, Local Government Code, is
amended to read as follows:
Sec. 116.021. DEPOSITORY AND SUBDEPOSITORY CONTRACTS.
(a) The commissioners court of a county at its May [Feb~a~1
regular term immediately following each general election for
~ state and county officers shall contract with one or more banks
in the county for the deposit of the county's public funds. The
~ county shall contract with a bank under this section for a
3 two-year or four-year contract term.
~ (b) If the contract is for a four-year term, the contract
._.._
~ shall allow the bank to establish, on the basis of negotiations
with the county, new interest rates and financial terms of the
.-
7 contract that will take effect during the final two years of the
B four-year contract if
9 (1) the new financial terms do not increase the
0 prices to the county by more than 10 percent; and
1 (2) the county has the option to choose to use the
_,
_.~._._.
2 initial variable interest rate o Lion or to change to the new
_ .
3 fixed or variable interest rate options proposed by the bank
__
4 [~'he-eemm}ss}eners-eeurt-at-its-Feb~a~-regular-tee-net
1