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10-14-19-Resolution-Closure of an Account at First United Account and Transfer-10/07/2019RESOLUTION #10-14-19 A RESOLUTION OF THE CITY OF SANGER TEXAS, AUTHORIZING THE CLOSURE OF A BANK ACCOUNT WITH FIRST UNITED BANK AND THE TRANSFER OF THE ACCOUNT BALANCE TO THE OPERATING ACCOUNT WITH FIRST UNITED BANK AND DECLARING AN EFFECTIVE DATE. WHEREAS, the City of Sanger entered into an Agreement with First United Bank (`Bank"), for the latter to serve as the Depository Bank for the City; and WHEREAS, the City established certain accounts in `Bank" to facilitate the deposit and disbursement of City funds for authorized purposes; and WHEREAS, the City determined that it is no longer necessary to maintain such accounts; NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SANGER, TEXAS THAT: Section 1. That the above recitals are true and correct; and the City staff is authorized to close the account with First United Bank and transfer the balances at the time of closing as listed below: Close Account Transfer Balance to Account ****13 (MM 2013 Bond) Account ***00 (Pooled Cash Account) Section 2. That this Resolution shall become effective after its passage. DULY PASSED, APPROVED AND ADOPTED by the City Council of the City of Sanger, Texas, on this `' t day of 4 ATTEST: '"��a Cheryl rPkfce, City Secretary APPROVED: Thomas E. Muir, Mayor