R-2022-130 - 4/28/2022 RESOLUTION NO. R-2022-130
WHEREAS, Chapter 2, Article V. Finance, Section 2-323(g), Code of Ordinances, City of
Round Rock, Texas, provides that the City Council shall select a City Depository for the custody of
City funds; and
WHEREAS, the City has requested applications from banking firms authorized to submit such
applications in accordance with Section 105.011 of the Texas Local Government Code; and
WHEREAS, in accordance with Section 105.014 of the Texas Local Government Code the
City, in reviewing the applications, has considered the terms and conditions for the performance of
depository services, including the type and cost of services to be provided to the municipality,
consistent with any policy guidelines adopted by the City regarding the selection of one or more
depositories; and
WHEREAS, JPMorgan Chase Bank, N.A. has submitted the most favorable application; and
WHEREAS, the City Council desires to accept the application of JPMorgan Chase Bank, N.A.
and to enter into a Depository and Banking Services Contract; and
WHEREAS, Section 105.015(a) of the Texas Local Government Code empowers the City
Council to authorize a designated officer to execute on the municipality's behalf one or more
depository services contracts; and
WHEREAS, Section 105.016(a) of the Texas Local Government Code requires the City
Council to designate the financial institution to serve as a depository for the municipality's funds, Now
Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,TEXAS:
4112.20222149$2 23404828
I.
That the City Manager and;"or the Chief Financial Officer shall be, either jointly or individually,
the designated officer(s) to serve as the primary liaison between the City and JPMorgan Chase Bank,
N.A., and the designated officer(s) may exercise the powers and duties as authorized by applicable
law.
�I.
That the application of JPMorgan Chase Bank, N.A, is hereby accepted and said institution is
hereby selected as the official depository of the City of Round Rock, Texas, for the period beginning
June 1, 2022 through May 31, 2027; and the Mayor is hereby authorized and directed to execute on
behalf of the City a Depository and Banking Services Contract, and other necessary and related
documents, with JPMorgan Chase Bank,N.A.
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 28th day of April, 2022.
CRAIG MO G N, or
City of Rou d ,J
exas
FOR CITY, ATTEST:
Meagan Spin City C' erk