International Bank of Commerce v. City of Laredo

OPINION

MURRAY, Justice.

This suit was instituted by International Bank of Commerce (International) for a declaratory judgment and for injunctive relief against the City of Laredo (City) and Union National Bank of Laredo (Union), alleging that the depository contract executed and entered into between the City and Union on September 5, 1978, is null and void. International also sought injunctive relief against City from entering into any new depository contracts with Union be cause same would violate the conflict of interest position of the City’s charter and would, therefore, be unlawful and…