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File #: 18-886    Version: 1
Type: Strategic Support Status: Agenda Ready
File created: 6/1/2018 In control: Finance Department
On agenda: 6/19/2018 Final action:
Title: Amendment to the General Banking Services Agreement with Wells Fargo Bank.
Sponsors: City Council
Attachments: 1. Memorandum
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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...Title

Amendment to the General Banking Services Agreement with Wells Fargo Bank.

...Recommendations

Adopt a resolution authorizing the Director of Finance to:

a.                     Negotiate and execute the Fourth Amendment to the General Banking Services, Merchant Card Processing Services, and Lockbox Services agreements with Wells Fargo Bank, N.A. ("Wells") to extend the term of the agreement for one year from July 1, 2018 through June 30, 2019, in an amount not to exceed $2,143,000. 

b.                     Negotiate and execute the Second Amendment to the Securities Custodial Services agreement with Wells to extend the term of the agreements for one year from July 1, 2018 through June 30, 2019, in an amount not to exceed $19,000.

CEQA: Not a Project, File No. PP17-003, Agreements/Contracts (New or Amended) resulting in no physical changes to the environment. (Finance)