HomeMy WebLinkAbout2000-228
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RESOLUTION NO. 2000-228
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF AN
AGREEMENT BETWEEN THE CITY OF SAN BERNARDINO AND WELLS
FARGO BANK, N.A. FOR THE PROVISION OF BANKING SERVICES AND
THE DEPOSIT OF MONIES.
BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF
THE CITY OF SAN BERNARDINO AS FOLLOWS:
SECTION I. The Mayor of the City of San Bernardino is hereby
authorized and directed to execute on behalf of said City an agreement with Wells
Fargo Bank, N.A. for the provision of banking services to the City of San
Bernardino, and the deposit of monies, a copy of which is attached hereto as
Exhibit "A" and incorporated herein by reference.
SECTION 2. The authorization to execute the above referenced
agreement is rescinded if the parties to the agreement fail to execute it within sixty
(60) days for the passage of this resolution.
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2000-228
RESOLUTION OF THE MAYOR AND COMMON COUNCIL OF THE
CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF AN
AGREEMENT BETWEEN THE CITY OF SAN BERNARDINO AND WELLS
FARGO BANK, N.A. FOR THE PROVISION OF BANKING SERVICES AND
THE DEPOSIT OF MONIES.
I HEREBY CERTIFY that the foregoing resolution was duly adopted by
the Mayor and Common Council of the City of San Bernardino at anJoint Regular
meeting thereof, held on the 24 day of July , 2000, by the following vote to
wit:
COUNCIL MEMBERS AYES NAYS ABSTAIN ABSENT
ESTRADA x
LIEN x
MC GINNIS x
SCHNETZ x
SUAREZ x
ANDERSON x
MC CAMMACK x
~h,~
Rac G. Clark, City Clerk
2000.
(y ~~
The foregoing resolution is hereby approved this,~day of
/\
July
Approved as to form
and legal content:
JAMES F. PENMAN
City ttomey
By:
2
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2000-228
CITY OF SAN BERNARDINO
AGREEMENT FOR BANKING SERVICES
THIS AGREEMENT, made and entered into this :)Co h day of July ,
2000, by and between the CITY of San Bernardino, a municipal corporation, hereinafter referred
to as "CITY" and WELLS FARGO BANK, hereinafter referred to as "BANK".
WITNESSETH
WHEREAS, BANK is recognized as a qualified banking institution which was selected by the
CITY through competitive procedures;
NOW, THEREFORE, in consideration of their mutual promises, obligations and covenants
hereinafter contained, the parties hereto agree as follows:
I. TERM. Unless terminated earlier or cancelled as provided for herein, the term of this
Agreement shall be for the each of the five fiscal years ending June 30, 2001 through 2005
with the option to renew upon approval of the Mayor and City Council for the fiscal years
ended June 30, 2006, and 2007.
2. SCOPE OF SERVICES. The BANK agrees to provide services and perform all work
necessary in a manner satisfactory to the CITY as set forth in the following:
A. The BANK's proposal dated February 8th, 2000 and said pages of which are for
an election to be made by the City Treasurer of CITY. The City Treasurer may
also elect to delete any of the services set forth in the above-designated portion of
the BANK's proposal.
B. Appendix "A" the "Application and Agreement for Cash Management Services"
fully executed by BANK and CITY;
C. The Request for Proposal (RFP) for banking services dated January 5, 2000.
These documents are attached hereto and by reference incorporated herein and made a
part hereof.
3. COMPENSATION. Compensation to BANK for the services provided pursuant to this
Agreement shall be as set forth in the pricing provisions in the BANK's attached proposal
dated February 8th, 2000, said provisions of which are incorporated herein by this
reference. In the event that services not specified in the BANK's proposal are requested
by CITY the fees for such services shall be negotiated at the time they are added. BANK
shall reserve the right to pass on direct costs associated with Federal and State
Regulations, including Federal Deposit Insurance Corporation charges. Revisions to the
compensation hereunder shall be approved by the City Council of the City of San
Bernardino. BANK agrees to maintain prices referenced in BANK's proposal for a period
of five (5) years for each of the five fiscal years ending June 30, 2001 through 2005.
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2000-228
4. TERMINATION. Any other provision herein to the contrary notwithstanding, and in
addition to other methods of termination provided for herein or available under the laws of
the State of California, it is agreed that this Agreement shall terminate ninety (90) days
after written notice of termination, which may be given by either party to the other party to
this Agreement with or without cause. After the expiration of such ninety- (90) day
period, BANK shall immediately cease all services hereunder except as may be
specifically approved by the CITY. BANK shall be entitled to compensation for all
services rendered prior to the termination and for any services authorized by CITY
thereafter in accordance with the aforementioned section regarding compensation.
5. NOTICES. Any notice required to be given hereunder shall be in writing with copies as
directed herein and shall be personally served or given by mail. All notices by mail shall
be deemed to have been given when received by the party to be served. Mail notices are to
be sent by United States mail, certified and postage prepaid, addressed to the party to be
served as follow:
TO CITY:
City of San Bernardino
David C. Kennedy, City Treasurer
300 North D Street
San Bernardino, CA 92418-000 I
TO BANK:
Wells Fargo Bank
Mark C. Hewlett, Vice President
Government and Educational Banking
707 Wilshire Blvd. 16th Floor
Los Angeles, CA 90017
Either party may change its address by notifYing the other party of the change of address in
writing. Notice shall be deemed communicated when received by the party to be served if
served as provided in this section.
6. INSURANCE. The BANK shall procure and maintain, at its cost, comprehensive general
liability and property damage insurance, including automobile and excess liability
insurance, against all claims for injuries against persons or damages to property resulting
from BANK's negligent acts or omissions rising out of or related to BANK's performance
under this Agreement. BANK shall also carry Workers' Compensation Insurance in
accordance with State Workers' Compensation laws. BANK agrees to maintain
professional liability insurance to protect CITY from BANK'S negligent acts, errors or
omissions of a professional nature. If any claim related to the performance hereunder be
asserted against either party hereto, the party claimed against shall receive all reasonable
assistance from the other. The requirements herein for subrogation may be waived by the
CITY with respect to such professional liability insurance.
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2000-228
The insurance required hereunder shall be kept in effect during the term of this Agreement
and shall not be subject to reduction in coverage below the limits established herein, nor
cancellation or termination without thirty (30) days prior written notice by registered letter
to the CITY. The insurer shall waive the right of subrogation against CITY, its officers,
employees and agents, and the coverage shall be primary for losses arising out of BANK's
performance hereunder and neither the CITY nor its insurers shall be required to
contribute to any such loss. A certificate evidencing the foregoing and naming the CITY as
an additional insured shall be delivered to and approved by the CITY prior to
commencement of the services hereunder. The procuring of such insurance or the delivery
of policies or certificates evidencing the same shall not be construed as a limitation of
BANK'S obligation to indemnify the CITY, its officials and employees.
The amount of insurance required hereunder shall be as follows:
1. Workers Compensation to statutory limits;
2.
Commercial General Liability:
Each occurrence
Personal injury
Aggregate limit
Hired Auto and Non-Owned Auto Liability:
Each occurrence
Aggregate limit
Professional Liability:
Each claim and in the aggregate
3.
4.
$1,000,000
$1,000,000
$2,000,000
$1,000,000
$1,000,000
$1,000,000
7. PREVAILING PARTY. If any court action occurs as a result of a dispute between the
parties concerning any element of this agreement, the prevailing party shall be entitled to
reasonable attorney's fees. The costs, salary and expenses of the City Attorney and
members of his office in enforcing this agreement on behalf of the CITY shall be
considered as "attorney's fees" for the purpose ofthis paragraph.
8. ASSIGNMENT: SUBCONTRACTS
The experience, knowledge, capability and reputation of BANK, its principals and
employees were a substantial inducement for CITY to enter into this Agreement.
Therefore, BANK shall not subcontract, assign or otherwise transfer its rights and
obligations under this Agreement without prior written consent of CITY. Any such
subcontractor or assignment without such consent shall be void and shall, at the option of
CITY, terminate this Agreement. It is understood and agreed that for any such services
provided to CITY, with the CITY's written consent the full cost of such services are not
fixed for any period of time as are BANK provided services, and will be passed along to
the CITY. Such services include but are not limited to armored carrier, deposit courier,
and messenger service.
9. AUTHORITY TO EXECUTE AGREEMENT. Both CITY and BANK do covenant that
each individual executing this Agreement on behalf of each party is a person duly
authorized and empowered to execute agreements for such party.
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2000-228
In WITNESS WHEREOF, the parties have executed this Agreement as of the date stated
above.
CITY OF SAN BERNARDINO
ATTEST:
Ci~ /;;,~
City of San Bernardino
APPROVED AS TO FORM
AND LEGAL CONTENT:
ttorney of the
of San Bernardino
WELLS FARGO BANK
/~~~
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2000-228
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