HomeMy WebLinkAboutCC RESO 2011-80RESOLUTION 2011 — 80
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NATIONAL CITY
AUTHORIZING THE MAYOR TO EXECUTE AN AGREEMENT FOR
BANK AND CUSTODY SERVICES WITH UNION BANK, N.A., OF
CALIFORNIA TO PROVIDE BANKING AND CUSTODY SERVICES,
AND AUTHORIZING THE CITY MANAGER TO EXECUTE ALL
OTHER RELATED AGREEMENTS, AS DEEMED NECESSARY
WHEREAS, in 1969, the City Council approved a Banking Agreement between
the City of National City and Bank of America; and
WHEREAS, the banking industry and related technologies have changed
considerably since 1969, and the apparent need to provide efficiencies and cost savings in
today's economic climate made it necessary to issue a Request for Proposals ("RFP") for
banking and custody services; and
WHEREAS, with the merger of the staff of the Community Development
Commission of the City of National City ("CDC") with the City, it is more effective and efficient to
bring both entities under the same banking relationship for banking and custody services; and
WHEREAS, of the three proposals that were submitted, Union Bank's pricing
was significantly lower, the bank committed guaranteed fixed pricing for five years, and will
provide a $3,000 allowance to offset the cost of implementation.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of
National City hereby authorizes the Mayor to execute an Agreement with Union Bank, N.A., of
California for bank and custody services. Said Agreement is on file in the office of the City Clerk.
BE IT FURTHER RESOLVED that the City Manager is hereby authorized to
execute all other related agreements in the furtherance of the banking and custody services, as
deemed necessary.
ATTEST:
iel ctij
Mich R. Dalla , dty Clerk
PASSED and ADOPTED this 5th day of April, 20
on Morrison, Mayor
A'P.'OVED AS TO FORM:
Cla .'. G. ilva
City Attorney
Passed and adopted by the Council of the City of National City, California, on April 5,
2011 by the following vote, to -wit:
Ayes: Councilmembers Morrison, Natividad, Rios, Sotelo-Solis, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Mayor of the City of National City, California
City Clerk of the ity of rational City, California
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2011-80 of the City of National City, California, passed and adopted
by the Council of said City on April 5, 2011.
City Clerk of the City of National City, California
By:
Deputy