HomeMy WebLinkAboutR-3606-9-18 RESOLUTION NO.3606-9-18(R1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY, TEXAS, DESIGNATING CITY REPRESENTATIVES FOR THE
DEPOSITORY BANK; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, the State of Texas Local Government Codes: Chapter 105 Municipal Depository Act; Chapter
176 Conflict of Interest Act; Chapter 2256 Public Funds Investment Act; and Chapter 2257 Public Funds
Collateral Act established the process for selecting a depository bank; and,
WHEREAS, the City received applications from American National Bank of Texas, Bank of America, N.A.,
Comerica Bank,JPMorgan Chase Bank, N.A.,and LegacyTexas Bank; and,
WHEREAS, in concert with Valley View Consulting, staff has reviewed the applications submitted and
recommends that the Primary Depository Bank Services contract be awarded to JPMorgan Chase Bank, N.A.;
and,
WHEREAS,the City Council has designated JPMorgan Chase Bank,N.A. as the City's depository bank; and,
WHEREAS,from time to time,the City of Allen wishes to request JPMorgan Chase Bank,N.A. (the"Bank"),
by written instruction,telephone,terminal communication device,or otherwise,to originate one or more of the
following services:
■ ACH transaction as provided in an ACH agreement
• Treasury Management Services pursuant to a Treasury Management Services Agreement
■ Online Banking
• Online Banking Bill Payment
■ Night Depository Services pursuant to a Night Depository Services Agreement
■ Drop Bag Services pursuant to a Drop Bag Services Agreement
• Wire Transfer pursuant to a Wire Transfer Agreement
• Positive Pay Services pursuant to a Positive Pay Services Agreement
• Remote Deposit Capture Services pursuant to a Remote Deposit Capture Agreement
• Custodial Services pursuant to a Custodial Agreement
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ALLEN,
COLLIN COUNTY,TEXAS,THAT:
SECTION 1. Notwithstanding any previous or post resolution which requires either multiple signatures or
other signatures to transact business on behalf of the City of Allen,Texas, that any ONE of the persons listed
below is hereby authorized to execute the required Agreements with the Bank and to designate those persons
who may transact business on behalf of the City of Allen,Texas, for the above indicated services.
Peter H. Vargas ,�� �Q
City Manager /.Gis7/�'�/
Name &Title Signature
Shelli Siemer �^ p �� ���/"
Assistant City Manager
Name &Title Signature
Eric Cannon
Chief Financial Officer �, .../1
Name&Title ignatu
Steven Glickman
Assistant Chief Financial Officer
Name&Title Signature
SECTION 2. The authority conferred hereby will continue in full force and effect until specific written notice
of modification or revocation of this Resolution by a dully appointed official of the City of Allen, Texas, is
received by the Bank.
SECTION 3. This Resolution shall become effective immediately upon its passage.
DULY PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF ALLEN, COLLIN
COUNTY,TEXAS,ON THIS THE 11TH DAY OF SEPTEMBER 2018.
AP"OVED:
Stephen Terrell,MAYOR
ATTEST:
n5y16(3
Shelley B.1
. eorge, CITY SECRETARY
Resolution No.3606-9-18(R),Page 2