R-09-05-14-9E2 - 5/14/2009RESOLUTION NO. R -09-05-14-9E2
WHEREAS, the City entered into a Depository and Banking
Services Contract with Bank of America, N.A. by Resolution R -07-04-
26-12D1, same being dated April 26, 2007, and
WHEREAS, the term of the current Contract extends until May
31, 2009, and
WHEREAS, paragraph II of said Contract authorizes the parties
to extend the existing Depository and Banking Services Contract, by
mutual agreement, for a period not to exceed the period allowed by
the City/Depositor's Comprehensive Investment Policy, and
WHEREAS, the City and Bank of America, N.A. desire to extend
the Depository and Banking Services Contract for a period of two
years, so that the term of said Contract shall expire on May 31,
2011, and
WHEREAS, the City and Bank of America, N.A. now desire to add
certain amendments, addenda, and agreements to the original
Depository and Banking Services Contract package, Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS:
I.
That the Mayor is hereby authorized and directed to execute on
behalf of the City an Agreement Extending Depository and Banking
Services Contract with Bank of America, N.A., a copy of same being
attached hereto as Exhibit "A" and incorporated herein for all
purposes.
R90514E2/jkg
II.
That the Mayor is hereby authorized and directed to execute on
behalf of the City the following: "Exhibit B Certificate of
Authorized Persons," a copy of same being attached hereto as Exhibit
"B" and incorporated herein for all purposes.
III.
That a new section is hereby added to the original "Depository
and Banking Services Contract," such new section to be entitled
"XXVIII INTERLOCAL COOPERATIVE CONTRACTING / PURCHASING" and such
new section to read as follows:
XXVIII
INTERLOCAL COOPERATIVE CONTRACTING / PURCHASING
Authority for local governments to contract with one another to
perform certain governmental functions and services, including but
not limited to purchasing functions, is granted under Government
Code, Title 7, Chapter 791, Interlocal Cooperation Contracts,
Subchapter B and Subchapter C, and Local Government Code, Title 8,
Chapter 271, Subchapter F, Section 271.101 and Section 271.102.
Other governmental entities within the State of Texas may be
extended the opportunity to purchase off of the City of Round Rock's
bid, with the consent and agreement of the successful vendor(s) and
Round Rock. Such agreement shall be conclusively inferred for the
vendor from lack of exception to this clause in the vendor's
response. However, all parties hereby expressly agree that the City
of Round Rock is not an agent of, partner to, or representative of
those outside agencies or entities and that the City of Round Rock
is not obligated or liable for any action or debts that may arise
out of such independently -negotiated "piggyback" procurements.
2
IV.
The City Council hereby finds and declares that written notice
of the date, hour, place and subject of the meeting at which this
Resolution was adopted was posted and that such meeting was open to
the public as required by law at all times during which this
Resolution and the subject matter hereof were discussed, considered
and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 14th day of May, 2009.
ATTEST:yI�44
Art
SARA L. WHITE, City Secretary
3
ALAN MCGRAW, Mayor
City of Round Rock, Texas
EXHIBIT "A"
1
a
EXHIBIT
"A"
AGREEMENT EXTENDING
DEPOSITORY AND BANKING SERVICES CONTRACT
WHEREAS, the City of Round Rock, Texas (hereinafter referred to
as the "City/Depositor") and Bank of America, N.A. (hereinafter
referred to as the "Bank") entered into that one certain Depository
and Banking Services Contract (hereinafter referred to as the
"Contract")dated April 26, 2007, and
WHEREAS, under the terms of the Contract, said Contract expires
on May 31, 2009 unless extended by mutual agreement of the parties
thereto, and
WHEREAS, paragraph II of the Contract provides that the
Contract may be extended by mutual agreement of the City/Depositor
and the Bank for a period not to exceed the period allowed by the
City/Depositor's Comprehensive Investment Policy, and
WHEREAS, the City/Depositor and the Bank now wish to extend the
Contract for a period of two (2) years until May 31, 2011,
NOW, THERFORE, IT IS AGREED BY THE PARTIES AS FOLLOWS:
I.
Under the terms of paragraph II of the Contract, the Contract
is hereby extended and shall remain in full force and effect through
May 31, 2011.
II.
All other terms and provisions of the Contract, and any
amendments thereto, shall remain in full force and effect.
Executed in multiple originals to be effective on
2009, by the undersigned duly authorized officers of the parties
hereto.
CITY OF ROUND ROCK, TEXAS
By:
Printed Name:
Title:
Date Signed:
ATTEST:
By:
BANK OF AMERICA, N.A/.0 /
By: L.(.(: 0/ a &in., jcli aind i
Printed Name : Karhal pen Ford-Srpith
Title: Sr. Vice President
Date Signed: 5/1/0/
Sara L. White, City Secretary
4
EXHIBIT B
CERTIFICATE OF AUTHORIZED PERSONS
(Public Entity - Oral and Written Instructions)
The undersigned hereby certifies that he/she is the duly elected and acting Mayor of
City of Round Rock and further certifies that the following officers or employees of this entity
have been duly authorized to deliver Oral and Written Instructions to The Bank of New York Trust Company, N.A.
("Bank of New York") pursuant to the Tri -Party Collateral Management Agreement among Public Entity, Bank of
America N.A. ("Bank of America") and Bank of New York dated , Tune 1 7 7n07, and that the signatures appearing
opposite their names are true and correct:
Cheryl Delaney Finance Di rector C jW� tily N`/
Name Title 35gnat(�urre
Elaine Wilson Financial Programs Mgr z-a""r�}� 4
"s'hJ
Name Title Signature
Tameka Leonard Treasury Accountant lonatz-44unctui
Name Title Signature
Name
Name
Name
Name
Name
Name
Title Signature
Title Signature
Title Signature
Title Signature
Title Signature
Title Signature
This certificate supersedes any certificate of authorized individuals you may currently have on file.
[corporate
seal]
[SIGNATURE]
Title: Alan McGraw, Mayor
Date:
DATE: May 7, 2009
SUBJECT: City Council Meeting — May 14, 2009
ITEM: 9E2. Consider a resolution authorizing the Mayor to execute an Amendment to the
Depository and Banking Services Contract with Bank of America, N.A.
Department:
Staff Person:
Justification:
Finance
Cheryl Delaney, Finance Director
The current depository contract with Bank of America expires May 31, 2009. This two (2) year extension
allows the City to continue to receive the same services with no additional increases in costs per service
over this two year period. One additional change made to the contract is a section to allow for interlocal
cooperative contracting/purchasing with the consent of the City and Bank of America, N.A.
Funding:
Cost: $51,600 per year
Source of funds: General and Utility Funds
Outside Resources: N/A
Background Information:
The City is required to contract for depository services. The Local Government Code and the City's
Investment Policy require that the City request proposals for depository services every five (5) years.
Bank of America submitted the winning proposal in 2007. This extension takes the contract out an
additional two (2) years for a total of four (4) years.
Public Comment: N/A
EXECUTED
DOCUMENT
FOLLOWS
EXHIBIT "A"
AGREEMENT EXTENDING
DEPOSITORY AND BANKING SERVICES CONTRACT
WHEREAS, the City of Round Rock, Texas (hereinafter referred to
as the "City/Depositor") and Bank of America, N.A. (hereinafter
referred to as the "Bank") entered into that one certain Depository
and Banking Services Contract (hereinafter referred to as the
"Contract")dated April 26, 2007, and
WHEREAS, under the terms of the Contract, said Contract expires
on May 31, 2009 unless extended by mutual agreement of the parties
thereto, and
WHEREAS, paragraph II of the Contract provides that the
Contract may be extended by mutual agreement of the City/Depositor
and the Bank for a period not to exceed the period allowed by the
City/Depositor's Comprehensive Investment Policy, and
WHEREAS, the City/Depositor and the Bank now wish to extend the
Contract for a period of two (2) years until May 31, 2011,
NOW, THERFORE, IT IS AGREED BY THE PARTIES AS FOLLOWS:
I.
Under the terms of paragraph II of the Contract, the Contract
is hereby extended and shall remain in full force and effect through
May 31, 2011.
II.
All other terms and provisions of the Contract, and any
amendments thereto, shall remain in full force and effect.
Executed in multiple originals to be effective on
2009, by the undersigned duly authorized officers of the arties
hereto.
CITY OF ROUND ROCK, TEXAS
By:
Th✓ tom-_
Printed Name:
Title:
Date Signed:
ATTEST:
By:
Nom IVtWkniniv
IVItgov-
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S1///1)4, C(12
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Sara L. White, City Secretary
(1{-11;2----
4
BANK OF AMERICA, N.A.
BY:
Printe• Name:Kathaleen Ford -Smith
Title: Sr. Vice President
Date Signed: S/i/Oct
EXHIBIT B
CERTIFICATE OF AUTHORIZED PERSONS
(Public Entity - Oral and Written Instructions)
The undersigned hereby certifies that he/she is the duly elected and acting Ma y o r of
City of Round Rock and further certifies that the following officers or employees of this entity
have been duly authorized to deliver Oral and Written Instructions to The Bank of New York Trust Company, N.A.
("Bank of New York") pursuant to the Tri -Party Collateral Management Agreement among Public Entity, Bank of
America N.A. ("Bank of America") and Bank of New York dated June 1. 2007 , and that the signatures appearing
opposite their names are true and correct:
Cheryl Delaney Finance Director
Name TitleSign (,
Elaine Wilson Financial Programs Mgr. lJ� sW U
Name Title
Signature
Tameka Leonard Treasury Accountant M 4
Wincoti
Name Title Signature
Name Title Signature
Name Title Signature
Name Title Signature
Name Title Signature
Name Title Signature
Name Title Signature
This certificate supersedes any certificate of authorized individuals you may currently have on file.
[corporate
seal] [SIGNATURE]
Title: Alan McGraw, Mayor
Date: