HomeMy WebLinkAboutRES 062706-L - Agmt Chase Bank DepositoryRESOLUTION NO 04o7704, k.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, AUTHORIZING THE MAYOR TO SIGN AN
AGREEMENT WITH JP MORGAN CHASE AS CITY OF GEORGETOWN,
TEXAS DEPOSITORY FOR THE TWO YEARS BEGINNING
SEPTEMBER 1, 2006.
WHEREAS, The City of Georgetown Texas, has published notice of its intention to select a depository
for City funds and
WHEREAS, The City of Georgetown, Texas, has received and evaluated proposals for custody of City
funds; and
WHEREAS, the City of Georgetown, Texas, desires to select from those proposals received the
application offering the most favorable terms and conditions of handling the municipal funds, and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCTT OF THE CITY OF
GEORGETOWN TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution are hereby found
and declared to be true and correct, and are incorporated by reference herein and expressly made a part hereof,
as if copied verbatim. The City Council hereby finds that this resolution implements Finance Policy 14.00 of
the Century Plan - Policy Plan Element which states: "All municipal operations are conducted in an efficient
business -like manner and sufficient financial resources for both current and future needs are provided", and
further finds that the adoption of this resolution is not inconsistent or in conflict with any other Century Plan
Policies, as required by Section 2.03 of the Administrative Chapter of the Policy Plan.
SECTION 2. The Mayor is hereby authorized to execute, and the City Secretary to attest thereto an
agreement with JP Morgan Chase to serve as City of Georgetown, Texas Depository for an initial tei in of two
years beginning September 1, 2006 and. ending August 31, 2008 with the option to renew the agreement
annually for up to five additional years.
SECTION 3. This resolution shall be effective immediately upon adoption.
RESOLVED this 27t day of June 2006.
Sandra Lee
City Secretary
APPROVED AS TO FORM:
Patricia E. Carls, Brown and Carls, LLP
City Attorney
Depository Resolution No. 0007704"L.
Pagel of l
P:AINVESTIMENTSIDEPOSITORS'06\AGENDA\DEPRESOL.DOC
TH CITY !n GEORGETOWN:
By: G*fy Nelon
Mayor