HomeMy WebLinkAbout2001-05-15; City Council; Resolution 2001-142EXHIBIT 1
RESOLUTION NO. 2001-142
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA APPROVING THE CONTRACT FOR BANKING SERVICES
WITH WELLS FARGO BANK
WHEREAS, the City of Carlsbad’s contract with Wells Fargo Bank for banking
services will expire on February 1, 2001; and
WHEREAS, the City of Carlsbad solicited proposals from 13 financial institutions with
branch operations within the City of Carlsbad to provide banking services; and
WHEREAS, the City Treasurer received competitive proposals from four banking
institutions to provide banking services to the City of Carlsbad; and
WHEREAS, the proposals were analyzed and reviewed by an ad hoc committee; and
WHEREAS, the ad hoc committee unanimously concurred that the Banking Services
Proposal submitted by Wells Fargo Bank was the best overall for banking services; and
WHEREAS, Wells Fargo Bank has provided the City with excellent service since
merging with First Interstate Bank and Norwest Bank.
WHEREAS, Wells Fargo Bank has been providing necessary banking services for the
City since January 31, 2001 without benefit of an agreement; and
WHEREAS, The City desires to ratify any banking services performed by Wells Fargo
Bank without the benefit of an agreement:
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad,
California as follows:
1. That the above recitations are true and correct.
2. Wells Fargo Bank offers a five-year contract with an option to extend for two
additional years to provide banking services. The City Council accepts the offer
and the contract will commence on February 1, 2001.
3. The effective date of the contract will be February 1, 2001 and any banking
services performed by Wells Fargo Bank after that date is hereby ratified.
4. That the City Treasurer is hereby authorized to sign the attached Agreement for
Banking Services which includes the following documents. 1. Banking Services
Agreement; 2. Contract for Deposit of Moneys; 3. Master Agreement for
Treasury Management Services; 4. Commercial Account Agreement; 5.
Commercial Electronic Office (CEO) Online Access Agreement; 6. Commercial
Depository Service Description; 7. Account Reconciliation Plan Service
Description; 8. Positive Pay Service Description; 9. ACH Services Description;
10. Corporate Cash Management Account Agreement and 11. Commercial
Electronic Commerce Collection Service Description. (See Attachment “A”) and
any other documents necessary to carry out the intent of this resolution upon
advise of the City Attorney.
PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council on
the 15th day of May , 2001, by the following vote, to wit:
AYES: Counicl Members Lewis, Finnila, Nygaard and Hall.
NOES: None.
ABSENT:Council Member Kulchin.
ATTEST:
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