Loading...
HomeMy WebLinkAbout1989-11-07; City Council; Resolution 89-376'I e 0 I /I RESOLUTION NO. 89-376 2 3 4 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING THE MAYOR TO EXECUTE AN AGREEMENT FOR BANKING SERVICES WITH SAN DIEGO TRUST & SAVINGS BANK ~ 5 6 WHEREAS, the City of Carlsbad requires a wide range of banking services to adequately meet the City's cash management needs; and 7 !! WHEREAS, the quality of these services has a direct effect upon the 8 9 10 11 12 13 14 City's ability to properly manage its fund; and WHEREAS, the City Treasurer has requested proposals from several banking institutions capable of providing these services to the City of Carl sbad ; and WHEREAS, a review of these proposals has found that San Diego Trust & Savings Bank to be the most responsive institution providing banking services that most closely meet the City's needs at reasonable expense. l5 (1 NOW, THEREFORE BE IT RESOLVED by the City Council of the City of 1611Carlsbad, California as follows: l' I/ 1. That the above recitations are true and correct. 18 19 20 21 22 23 24 25 26 27 28 /// /// /// /// /// /// /// /// /// /// /// Ii 0 0 I. II 2. That the Mayor is hereby authorized to execute the attached 2 3 agreement Exhi bit A for banking services with San Diego Trust & Savings Bank covering the period January 4, 1990 through January 3, 1993. 4/1 PASSED, APPROVED AND ADOPTED at a regular meeting of the City 5 6 7 8 9 10 I1 Council of the City of Carlsbad, California, held on the 7th d aY of November , 1989, by the following vote, to wit: AYES: Council Members Lewis, Kulchin, Pettine, Mamaux and Larson NOES: None ABSENT : None 12 ATTEST: 1 13 ALWAd,$A*u t 14 15 16 17 18 19 (SEAL) 20 21 22 23 24 25 26 27 28 m 0 AGREEMENT FOR BANKING SERVICES THIS AGREEMENT, made and entered into as of the day of , 19 , by and between the CITY OF CARLSBAD, a municipa' corporation, hereinafter referred to as "CITY," and SAN DIEGO TRUST & SAVING! BANK, hereinafter referred to as "BANK." !!!LINESSEIH WHEREAS, on September 1, 1989, CITY solicited Requests for Proposals for ban ki ng services. WHEREAS, pursuant to said request, BANK submitted a proposal to CITY b) the closing date of September 29, 1989. WHEREAS, a1 1 proposal s received were evaluated by the CITY'S Bankin! Service Review Committee, which recommended that BANK be selected to providt banking services to CITY. NOW, THEREFORE, in consideration of their mutual promises, obligations and covenants hereinafter contained, the parties hereto agree as follows: (1) TERM The term of this Agreement shall be for three (3) years from the date of initiation of services to CITY by BANK, which is anticipated to be January 4, 1990. The actual date of service shall commence by mutual agreement between CITY and BANK at the earliest possible date. This Agreement may be extended for an additional three (3) year period by mutual agreement in writing not less than thirty (30) days prior to the expiration of the initial term hereof. (2) INCORPORATION BY REFERENCE CITY's "Request for Proposal for Banking Services" issued September 1, 1989, hereinafter referred to as RFP, and BANK'S "Banking Services Proposal" dated September 22, 1989, hereinafter referred to as PROPOSAL, are hereby incorporated in and made a part of this Agreement. w e (3) BANK'S OBLIGATION For and in consideration of the compensation and agreements hereinafter mentioned to be made and performed by CITY, BANK agrees with CITY to do everything required by this Agreement, the RFP and proposal to furnish the following services: a. Separate demand deposit accounts for each ofthe CITY's accounts and to accommodate additional accounts if required by the CITY. b. Daily bank statements for each account available to the CITY within five (5) working days, providing all cancelled checks, listing of checks and amounts cleared sorted by check number, date check cleared, data and amount of deposits, as we1 1 as a summary of beginning cash balance, deposits/credits, checks/debits, and ending cash balance for the day. c. Individual Monthly Account Analysis Reports for each account receiving service charges and in total for all accounts, providing the following minimum information: average daily cash balances; average dai ly fl oat; average dai ly coll ected bal ances ; transaction volumes and prices. d. Daily cash Balance Reports for transaction as of the close of the previous working day via telephone by 8:OO a.m. providing at least the following information for each account: cash balance; collected bal ance. e. Armored car service to pick up the CITY's daily deposit at two locations as determined by the CITY. The pick-up shall be made no earlier than 2:30 p.m. to allow sufficient time for the preparation of the deposit; and no later than required to ensure proper credit to the CITY's account on that day. f. Accept direct deposits to the CITY's account from the State of 2 .W 0 Cal ifornia and the federal government for various subvention and grant payments; and guarantee immediate credit for such deposits. g. Accept Letter of Credit payments from the U.S. Treasury for various federal grant programs; and guarantee immediate credit for such deposits. h. i. j. k. 1. m. n. 0. P* 9- Guarantee immediate credit on all wire transfers and U.S. Treasury checks upon receipt. Guarantee availability of all other checks and deposits based on the Avai 1 abi 1 i ty Schedule provided by the firm in the Proposal Submission Package. Honor all payroll checks presented by the payee at any of the BANK'S branch locations. Mastercard and Visa accounts should be established for the CITY at the most favorable rate possible. Assurance of proper CITY signature authorizations for paid items. Accept and process Federal Income Tax (FIT) Deposits. Provide direct deposit service to CITY employees (based on optional selection of this service by the employee) with personal checking accounts at the local branch based on a listing of employee names, account numbers, and amount of deposit as provided by the CITY. Provide standard banking services as detailed in the Proposal Submission Package. All other standard banking documents and services not specifically referenced in this Agreement will be provided to the CITY at no cost, including but not limited to: deposit slips, stop payment forms, coin wrappers, deposit bags, safe deposit box, cashier checks, and endorsement stamps. Investment services are specifically not included within the 3 w w provisions of this RFP. The CITY will continue its current investment pol icy of placing its investments based on competitive quotes from a wide variety of investment sources. r. All Demand Account Balances shall earn interest on a daily basis. s. Checks from the CITY’s general operating and payroll accounts shall be sorted by check number. (4) CITY’S OBLIGATION a. The unit prices shown in BANKS PROPOSAL shall. be used by BANK and CITY in determining the monthly cost of services based on actual CITY transaction volumes. The unit prices specified in the attached PROPOSAL extended against actual CITY transaction volumes shall be the sole basis for determining the monthly costs of service. b. The CITY agrees to pay BANK for all services provided at the unit prices described in Paragraph 4a above. In addition, BANK agrees to hold prices at the level shown in PROPOSAL for two (2) years from the date of this Agreement. At the end of this period BANK may, at BANK’S option, increase unit prices up to 10% In the event of an extension of this contract, future rate increases will be negotiated with the CITY’s representative. (5) HOLD HARMLESS AND INDEMNIFICATION. BANK agrees to indemnify, defend and hold harmless CITY, its officials, officers, employees, representatives, and agents from and against all claims, lawsuits, liabilities or damages of whatsoever nature arising out of or in connection with, or relating in any manner to any act or omission of BANK, its agents, employees, and subcontractors or employees thereof pursuant to this Agreement. The BANK shall investigate and indemnify the CITY and do whatever is necessary to protect the CITY, its 4 w officials, officers, employees, agents and representatives as to any such claims, lawsuits, liabilities or damages. (6) AMENDMENTS Any amendment, modification or variation from the terms and conditions of this Agreement shall be in writing and shall be effective only upon approval by the Treasurer of the CITY. (7) TERMINATION FOR CAUSE CITY or BANK may terminate this Agreement for cause upon thirty (30) calendar days written notice. Cause for termination may include, but not be limited to, BANK's or CITY's failure to promptly and faithfully abide by any of the terms or conditions contained herein; violation of any law governing municipal depositories failure to cooperate upon receiving reasonable requests for information or service; or improper actions of BANK's or CITY's officers, employees, or subcontractors, which, in the opinion of CITY or BANK, would adversely affect its interests or endanger the safety or liquidity of CITY or BANK funds. In the event or termination pursuant to this section, BANK and CITY shall cooperate in the timely and effective transition of services to another depository. Thereafter, neither party shall have any future duties, obligations, responsibilities, or rights under this Agreement. (8) TERMINATION OF AGREEMENT WITHOUT CAUSE Either party to this Agreement may upon ninety (90) calendar days written notice terminate this Agreement without cause. Such notice shall be delivered by certified mail to the address shown in Section 18 of this Agreement. (9) NON-DISCRIMINATION In the performance of the terms of this Agreement, BANK agrees that it will not engage in, nor permit such subcontractors as it may employ, to 5 0 0 engage in discrimination in the employment of persons because of the age, race, color, sex, national origin or ancestry, or religion of such persons. Violations of this provision may result in the termination of this Agreement pursuant to the provisions of Section 7 hereinabove. (10) AUDIT CITY shall have the option of inspecting and/or auditing all records and other written materials used by BANK in preparing the Monthly Account Analysis Report to CITY, subject to any restrictions which may be imposec by State or Federal laws or regulations concerning the confidentialitj of such records. (11) PAYMENT OF FEES OR COMMISSIONS BANK warrants that BANK has not employed or retained any company or person, other than a bona fide employee working for BANK, to solicit or secure this Agreement, and that BANK has not paid or agreed to pay any company or person, other than a bona fide employee, any fee, commission, percentage, brokerage fee, gift, or any other consideration contingent upon, or resulting from, the award or making this Agreement. For breach or violation of this warranty, the CITY shall have the right to annul this Agreement without liability, or, in its discretion, to deduct fron the agreement price or consideration, or otherwise recover, the full amount of such fee, commission, percentage, brokerage fee, gift or contingent fee. (12) DISPUTES If a dispute should arise regarding the performance of work under this Agreement, the foll owing procedure shall be used to resolve any question of fact or interpretation not otherwise settled by agreement between parties. Such questions, if they become identified as a part of a dispute among persons operating under the provisions of this Agreement, 6 w 0 shall be reduced to writing by the principal of the BANK or the City Treasurer. A copy of such documented dispute shall be forwarded to both parties involved along with recommended methods of resolution that would be of benefit to both parties. The City Treasurer or principal receiving the letter shall reply to the letter along with a recommended method of resolution within ten calendar days. If the resolution thus obtained is unsatisfactory to the aggrieved party, a letter outlining the dispute shall be forwarded to the City Council for their resolution through the office of the City Manager. The City Council may then opt to consider the directed solution to the problem. In such cases, the action of the City Council shall be binding upon the parties involved, although nothing in this procedure shall prohibit the parties seeking remedies available to them in law. (13) ASSIGNMENT OF CONTRACT BANK shall not assign this contract or any part thereof or any monies due thereunder without the prior written consent of the CITY. (14) SUBCONTRACTING BANK shall not subcontract any of the services to be provided under this Agreement by BANK unless approved by CITY in writing. BANK shall be fully responsible to CITY for the acts and omissions of BANK's subcontractor and of the persons either directly or indirectly employed by the subcontractor, as BANK is for the acts and omissions of persons directly employed by BANK. Nothing contained in this Agreement shall create any contractual relationship between any subcontractor of BANK and CITY. BANK shall bind every subcontractor and every subcontractor of a subcontractor by the terms of this Agreement applicable to BANK's work unless specifically noted to the contrary in the subcontract in question approved in writing by CITY. 7 m m (15) PROHIBITED INTEREST No official of the CITY who is authorized in such capacity on behalf oi the CITY to negotiate, make, accept, or approve, or take part ir negotiating, making, accepting, or approving of any agreement, shall become directly or indirectly interested personally in this Agreemenl or in any part thereof. No officer, employee, or attorney, of or for the CITY who is authorized in such capacity and on behalf of the CITl to exercise any executive, supervisory, or other similar functions ir connection with the performance of this agreement shall become direct13 or indirectly interested personally in this agreement or any par1 thereof. (16) VERBAL AGREEMENT OR CONVERSATION No verbal agreement or conversation with any officer, agent, or employe( of the CITY, either before, during, or after the execution of thi! Agreement, shall affect or modify any of the terms or ob1 igations hereir contained nor such verbal agreement or conversation entitle BANK to an3 additional payment whatsoever under the terms of this Agreement. (17) SUCCESSORS OR ASSIGNS Subject to the provisions of paragraph (5), Hold Harmless Agreement, al- terms, conditions, and provisions hereof shall inure to and shall bin( each of the parties hereto, and each of their respective heirs. executors, administrators, successors and assigns. (18) EFFECTIVE DATE This Agreement shall be effective on and from the day and year firsi above written. (19) NOTICES All written notices to the parties hereto shall be sent by United State! mail, postage prepared by certified mail addressed as follows: 8 e e CITY: William C. Esterline City Treasurer 1200 Elm Avenue Carl sbad, CA 92008 BANK : Kathl een Bl air, Manager San Diego Trust and Savings Bank P.O. Box 428 Carl sbad, CA 92008 (20) AUTHORITY TO EXECUTE AGREEMENT Both CITY and BANK do covenant that each individual executing this Agreement on behalf of each party is a person duly authorized and empowered to execute Agreement for such party. IN WITNESS WHEREOF. the parties hereto have caused this instrument to be executed the day and year first above written. APPROVED AS TO FORM: CITY OF CARLSBAD BY City Attorney Claude A. Lewis, Mayor SAN DIEGO TRUST & SAVINGS BANK ATTEST: BY Title Aletha L. Rautenkranz, City Clerk 9