Notice is hereby given that the Commissioners’ Court of Live Oak County, Texas, shall, at the April 26 Regular Term to be held at the Courthouse in George West, Texas, at 9 o’clock A.M., Friday, April 26, 2013, enter into a contract with a banking corporation, or individual banker in said Live Oak County for the depositing of all public funds, including all County Funds, Trust Funds, School Funds, of said Live Oak County in such bank or banks.
Any banking corporation or individual banker in such County desiring to be designated as County Depository shall make and deliver to the County Judge of Live Oak County an application applying for such funds and said application shall state the amount of paid up capital stock and permanent surplus of said bank and there shall be furnished with said application a statement showing the financial condition of said bank at the date of said application which shall be delivered to the County Judge of Live Oak County on or before 3 o’clock P.M., Friday, April 5, 2013. Said application shall also be accompanied by a certified check for not less than one-half of one percent of the County’s revenue for the preceding year as a guarantee of good faith on the part of said bank, and if accepted as County Depository that it will enter into the bond as required by law or provide pledge securities, and upon failure of such banking corporation or individual bank that may be selected to give the bond required by law or pledged securities, the amount of the certified check or pledged securities shall go to the County as liquidated damages.
The depository contract when awarded, must be approved by the Board of Directors of said bank.
Jim Huff, County Judge
Live Oak County, Texas