R-11-04-14-10A1 - 4/14/2011RESOLUTION NO. R -11-04-14-10A1
WHEREAS, the City entered into a Depository and Banking Services Contract with Bank of
America, N.A. by Resolution No. R -07-04-26-12D1, same being dated April 26, 2007, and
WHEREAS, the term of such Contract was extended until May 31, 2011 by Resolution No.
R -09-05-14-9E2, same being dated May 14, 2009, and
WHEREAS, the term of the current Contract extends until May 31, 2011, 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 one year, so that the term of said Contract shall expire on May 31,
2012, 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.
II.
That the Mayor is hereby authorized and directed, on behalf of the City, to acknowledge the
continuing validity of Resolution No. R -10-10-14-9E2 passed on October 14, 2010 containing "Exhibit
B Certificate of Authorized Persons," a copy of same being attached hereto as Exhibit "B" and
incorporated herein for all purposes.
III.
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
O: \wdox\SCCInts\0112\1104 \MUNICIPAL\00217947.DOC/jkg
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 April, 2011.
ATTEST:
D2A4/t/L . gt176t--
SARA L. WHITE, City Secretary
2
ALAN MCGRAW, Mayor
City of Round Rock, Texas
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, the term of such Contract was extended until May 31,
2011, by resolution adopted May 14, 2009, and
WHEREAS, under the terms of the Contract, said Contract expires
on May 31, 2011 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 one (1) year until May 31, 2012,
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, 2012.
II.
All other terms and provisions of the Contract,
amendments thereto, shall remain in full force and effect.
Executed in multiple originals to
day of the month of
undersigned duly authorized officers of
CITY OF ROUND ROCK, TEXAS
By:
Printed Name:
Title:
Date Signed:
ATTEST:
By:
Sara L. White, City Secretary
3
and any
be effective on the
, 2011, by the
the parties hereto.
BANK OF AMERICA, N.A.
By:
Printed Name:
Title:
Date Signed:
ROUND ROCK, TEXAS
PURPOSE. PASSION. PROSPERITY
Agenda Item No. 10A1.
City Council Agenda Summary Sheet
Agenda Caption: Depository and Banking Services Contract with Bank of America, N.A.
Meeting Date: April 14, 2011
Consider a resolution authorizing the Mayor to execute an amendment to extend the
Department: Finance Department
Staff Person making presentation: Cheryl Delaney
Finance Director
Item Summary:
The current depository contract with Bank of America is for the City's day to day banking needs and expires May 31,
2011. This one (1) year extension allows the City to continue to receive the same services with no additional
increases in costs per service over this one year period. The Local Government Code and the City's Investment Policy
require that the City request proposals for depository services every five (5) years. This extends the City's 2007
Depository and Banking Services contract through its fifth and final year.
Strategic Plan Relevance:
8.0 — Maintain and enhance public confidence, satisfaction and trust in City Government
Cost: Approximately $75,000 per year
Source of Funds: General & Utility Funds
Date of Public Hearing (if required): N/A
Recommended Action: Approval
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/Dep
ositor ) and Bank of America, N.A. (hereinafter
referred to as the "Bank"entered
hereinafter one
referred n toDepasltthe
and Banking Services Contract
"Contract")dated April 26, 2007, and
WHEREAS, the term of such Contract was extended until May 31,
2011, by resolution adopted May 14, 2009, and
WHEREAS, under the tethe
Contract
the parires
on May 31, 2011 unless extendedbY mutual agreement of
thereto, and
WHEREAS, paragraph II of the Contract provides that the
gra P
Contract may be extended by mutual agreement of th
e City/Deposflowed byitor
and the Bank for a period not to exceed the period
City/Depositor's Comprehensive Investment Policy, and
WHEREAS, the City/Depositor and the Bank now wish to extend the
Contract for a period of one (1) year until May 31, 2012,
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, 2012.
II.
All other terms and provisions of the Contract, and any
amendments thereto, shall remain in full force and effect.
Executed in multiple origals to be effective on the _
day of the month of )I 2011, by
undersigned duly authorized offic rs of the parties hereto.
CITY OF RD ROCK, TF CAS BANK OF AMERICA, N.A.
fati�i,
By: ' dt44 d„�"��
Printed Name: �L�,�-kwlun ,-�1 /16
Title: .0vnt off' V4c,e P✓esick/t4
Date Signed: :31 20
the
By:
Printed game: P401. 1./15.41/11V1/
Title: N/1 GtyaY-
Date Signed: 4-44.11
ATTEST:
By:
Sara L.
QuiI-n4-,14,I/kI
White, City Secretary
3
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
("Public Entity") and further certifies that the following officers or employees of Public Entity have been duly
authorized to deliver Oral and Written Instructions to The Bank of New York Mellon ("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 10/01/2010 and that the signatures appearing opposite their names are true and correct:
Cheryl Velaney
Name
Elaine Wilson
Finance Director
Title
Financial Programs Manager
Si tore
Bei.-ric,�*ht,
Name Title Signature
Name Title Signature
Stacie Carter Accounting
Manager
Tatneka Leonard Treasury Accountant
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 indi iduals you may currently have on file.
[corporate `
seal] [SIGNATURE]
Title: Wi.,joy'
Date: to. it. LO