HomeMy WebLinkAbout2011 CC RESO 2011-84 CDCRESOLUTION NO. 2011 — 84
RESOLUTION OF THE COMMUNITY DEVELOPMENT COMMISSION OF
THE CITY OF NATIONAL CITY AUTHORIZING THE CHAIRMAN TO
EXECUTE AN AGREEMENT WITH UNION BANK, N.A., OF CALIFORNIA
TO PROVIDE BANKING AND CUSTODY SERVICES, AND AUTHORIZING
THE EXECUTIVE DIRECTOR TO EXECUTE ALL OTHER
RELATED AGREEMENTS, AS DEEMED NECESSARY
WHEREAS, in 2005, the Community Development Commission of the City of
National City ("CDC") approved a Banking Agreement between the CDC and Wells Fargo Bank;
and
WHEREAS, the banking industry and related technologies have changed
considerably since 2005, 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 staff of the CDC with the City of National 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 Community Development
Commission of the City of National City hereby authorizes the Chairman 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 Executive Director is authorized to
execute all other related agreements in furtherance of the banking and custody services, as
deemed necessary.
PASSED and ADOPTED this 5th day of April, 20
ATTEST:
Brad Raulston, Se
Ron Morrison, Cian
/' 'PROVED AS TO FORM:
At/ ott
Claudia G. Sl
CDC Genera 'unsel
Passed and adopted by the Community Development Commission of the City of
National City, Califomia, on April 5, 2011, by the following vote, to -wit:
Ayes: Commissioners Morrison, Natividad, Rios, Sotelo-Solis, Zarate.
Nays: None.
Absent: None.
Abstain: None.
AUTHENTICATED BY: RON MORRISON
Chairman, Community Development Commission
Secreta
Development Commission
By:
Deputy
I HEREBY CERTIFY that the above and foregoing is a full, true and correct copy of
RESOLUTION NO. 2011-84 of the Community Development Commission of the City of
National City, California, passed and adopted on April 5, 2011.
Secretary, Community Development Commission
By:
Deputy