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Home My WebLink About1993-046 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 R~SOLUTION NO. 'n 4fi RESOLUTION OF THE CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF TWO AGREEMENTS WITH FIRST INTERSTATE BANK FOR THE PROVISION OF BANKING SERVICES TO THE CITY OF SAN BERNARDINO AND THE DEPOSIT OF MONIES. BE IT RESOLVED BY THE MAYOR AND COMMON COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS: SECTION 1. The Mayor of the City of San Bernardino is hereby authorized and directed to execute on behalf of said City two agreements with First Interstate Bank for the provision of banking services to the City of San Bernardino, and the deposit of monies, copies of which are attached hereto, marked Exhibits "A" and "B" respectively, and incorporated herein by reference as though set forth at length. SECTION 2. The authorization to execute the above agreements is rescinded if the parties to the agreements fail to execute them within sixty (60) days of the passage of the resolution. 16 17 I HEREBY CERTIFY that the foregoing resolution was duly adopted by the Mayor and Common Council of the city of San 18 19 20 21 I I I I I 22 IIIII Bernardino at a regular meeting thereof, held on the 8th day ,1993, by the following vote, to wit: of March 23 IIIII 24 I I I I I 25//111 26 I I I I I 27 I / I I I 28 I I I I I RES 93-46 . RESOLUTIO~ OF THE CITY OF SAN BERNARDINO AUTHORIZING THE EXECUTION OF TWO AGREEMENTS WITH FIRST INTERSTATE BANK FOR PROVISION OF BANKING SERVICES AND DEPOSIT OF MONIES. 1 2 3 4 councilmembers 5 ESTRADA 6 REILLY 7 HERNANDEZ 8 MAUDSLEY 9 MINOR 10 POPE-LUDLAM 11 MILLER 12 13 14 15 16 AYES NAYS ABSTAIN ABSENT x x x x x x x v(~it~~~ The foregoing resolution is hereby approved this 17 \.\\ ';><..<;>..L\, , 19 9 3 . 18 19 Approved as to form 20 and legal content: 21 JAMES F. PENMAN City Attorney 22 By: IJa-... 7 ' : t/ 25 26 ,,- I" V"'i-~ 27 28 day of -2- ~~"" '12.'-\\" CITY OF SAN BERNARDINO AGREEMENT FOR BANKING SERVICES THIS AGREEMENT, made and entered into this 1st day of MaTch, 1993, by and between the CITY of San BernaTdino, a municipal corporation, heTeinafter Teferred to as "City" and FIRST INTERSTATE BANK OF CALIFORNIA, hereinafter Teferred to as "Bank". I. RECITALS The City is desirous of obtaining the services of Bank to provide certain banking services to City, and Bank is desiTous of providing such services. II. SCOPE OF SERVICES Bank shall provide the services set forth, in its proposal to City dated December 18, 1992, which is attached hereto as Exhibit "A" and said pages of which are for an election to be made by City, the election shall 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 Exhibit "A," subject to the notice Tequirements contained in the Product Agreements described below. Bank may pTovide additional services under the terms of this Agreement upon the mutual agreement of Bank and City and the approval of the terms and conditions thereof by the City Council of the City of San BernaTdino. 1 RES 1n-46 . III. PRODUCT AGREEMENTS Bank shall provide the services set forth in the above designated portion of Exhibit "A" as more specifically described in the "Cash Management Terms and Conditions", which is attached hereto as Exhibit "B", to be executed by City concurrently herewith, a copy of which is attached hereto and incorporated herein by this reference. Any future Bank services not currently the subject hereof will be reflected by Product Agreements for such services to be executed by the parties and incorporated herein if not already covered in the "Cash Management Terms and Conditions." In the event of any inconsistency between the provisions of this Agreement, the pOTtions of Exhibit "A" incorporated herein and the "Cash Management Terms and Conditions," the terms of this Agreement and the incorporated portions of Exhibit "A" shall prevail. IV. COMPENSATION Compensation to Bank for the services provided pursuant to this Agreement shall be as set forth in the pricing pTovisions in the attached Exhibit "A", said provisions of which are incorporated herein by this Teference. In the event that services not specified in Exhibit "A" aTe requested by City, the fees for such services shall be negotiated at the time they are added. The 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 BemaTdino, subject to Bank's unilateTal right to change its fees each July, commencing July of 1995. METHOD OF PAYMENT Bank shall be paid for its services heTeunder pUTsuant to the relevant provisions of its proposal set forth in Exhibit "A," which pTovisions aTe incorpoTated herein by this reference. 2 RES.93-46. VI. TERM This AgTeement shall commence on the 1st day of March, 1993 and shall Temain and continue in effect until June 30, 1995. VII. EXTENSION The term of this Agreement may be extended by City's Treasurer and Bank by agreement in writing with respect to each such extension at least thirty (30) calendar days prior to the date on which this Agreement or an extension thereof would otherwise have terminated. The terms and conditions of the agreement as so extended shall be as set forth herein except that modifications in the compensation designated in Section III - Fee Schedule may be made effective fOT the period of any extension as mutually determined by Bank and the Treasurer of City in writing as a part of the agreement for the extension of this Agreement, subject to the approval of the City Council of City. VIII. TERMINATION Any other provision herein to the contrary notwithstanding, and in addition to otheT 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 expiTation of such ninety (90) day period, Bank shall immediately cease all setvices hereunder except as may be specifically approved by the City. Bank shall be entitled to compensation for all setvices Tendered prior to the termination and for any setvices authorized by City theTeafter in accordance with the afoTementioned section regaTding compensation. 3 RE~ 93-46 IX. NOTICES Any notice requiTed to be given heTeundeT 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 Teceived by the party to be served. Mail notices are to be sent by United States mail, ceTtified and postage pTepaid, addressed to the party to be served as follows: TO CITY: City of San BernaTdino David C. Kennedy, City TreaSUTer 300 North "0" Street San BernaTdino, CA 92418-0001 TO BANK: First Interstate Bank Cynthia Siddons, Vice President & Manager San Bernardino Main Office 290 North "0" Street San Bernardino, CA 92401 AND First Interstate Bank Susan M. Cotton, Vice President & Manager Government Services Group 5000 Birch Street, Suite 10,000 Newport Beach, CA 92660 Either party may change its addTess 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. 4 V..i .....1 ~.> J.V;.> I U-J. IJ... ';;;;J.) ...).>, tl.b U.L,).l .. I4J UU;: RES 93-46 x. ATrORNEYS' FEES In the event that either party hereto fails to comply with any of the terms of this Agreement and the other party commences legal proceedings to enforce any of the terms of this Agreement or to tenninate this Agreement, the prevailing party in such suit shall receive from the other a reasonable sum including attorneys' fees and costs as may be estabHshed by the Court or Iwy. XI. ASSIGNMENT; SUBCONTRAcrs 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. AIJ.y 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 wm be passed along to the City. Such services include but are not limited to armored carrier, deposit courier, and messenger service. XII. t;Xl'.t;NT OF AGREEMENT This document, the portions of Exhibit " A" incorporated herein by reference and the "Cash Management Terms and Conditions" represent the entire integrated Agreement between City and Bank and supersede all prior negotiations, representations or agreements, either written or oral. This Agreement and the incorporated portions of Exhibit" A" may be amended only by written instrument signed by both City and Bank. The "Cash Management Terms and Conditions. may be amended only as provided therein. 5 RES 93-46 IN WI1NESS WHEREOF, the paTties have executed this Agreement as of the date stated above. CITY OF SAN BERNARDINO FIRSf INIERSfAlE BANK By: 6~HU I Title: ~ !t/l:1r..J By: ~~ Title: 1-, W,.of" py~rlrt1 1-, FS/YI ATIEST: ~~ City of San Bernardino APPROVED AS TO FORM AND LEGAL CONTENT: Attorney of the City of San Bernardino 6 RES 93-46 FIRST INTERSTATE BANK CURRENT SCHEDULE SUMMARY OF SERVICES Account Services Full Account Reconciliation $ 2,251.35 3,700.90 462.96 5.50 190.34 1,019.96 987.00 243.00 Direct Demand Account/Clearing House Cash Vault Services Money Transfer/Wires Electronic Funds Transfer/ACH EDT Action (Information Reporting) Trust Collateralized Account Armored Car $ 8,861.01 RES.93-46' FIRST INTERSTATE BANK PRO FORMA FEE SCHEDULE MONTHLY SUMMARY OF SERVICES SUBMITTED DECEMBER, 1992 Account Services Full Account Reconciliation $ 2,591.65 Direct Demand Account Services/Clearing House 3,764.57 Cash Vault Services 576.06 Money Transfer/Wire Service 43.00 Electronic Funds Transfer ACH/EDT 106.90 Zero Balance Accounting 175.00 Action (Information Reporting) 502.72 Trust Collateralized Account -0- Armored Car 243.00 $ 8,002.90 RES 93-46 FIRST INTERSTATE BANK PRO-FORMA FEE SCHEDULE/RECOMMENDATIONS MONTHLY SUMMARY OF SERVICES SUBMITTED DECEMBER, 1992 Account Services Partial Account Reconciliation Direct Demand Account Services/Clearing House Cash Vault Services Money Transfer/Wires Electronic Funds Transfer ACH/EDI Zero Balance Accounting Action (Information Reporting) Trust Collateralized Account $ 1,805.04 3,764.57 576.06 43.00 106.90 175.00 112.72 -0- Armored Car 243.00 $ 6,826.29 RES 93-46 BANK OF AMERICA PROPOSAL - MONTHLY SUMMARY OF SERVICES DECEMBER, 1992 Account Services Full Account Reconciliation $ 1,609.63 6,410.61 252.70 197.00 223.05 412.32 357.50 Direct Demand Account/Clearing House Servo Cash Vault Services Money Transfer Wires Electronic Funds Transfer/ACH BAMTRAC (Information Reporting) Armored Car Service $ 9,462.81 RES93-I,,6 -' WELLS FARGO - PRICING PRO-FORMA SUMMARY OF MONTHLY CHARGES SUBMITTED DECEMBER, 1992 ACCOUNT SERVICES Account Reconciliation $2,279.91 Direct Demand/Clearing House 3,!:i97.94 Cash Vault Services 3,412.19 Money Transfers/Wires 102.50 Electronic Funds Transfers/ACH, EDT 354.26 Zero Balance Account Services 235.00 Armored Car 357.50 Setup and Test (one time charge) 100.00 $ 10,439.30 RES 93-46 . , . . ' OF;rst Interstate Bank CASH MANAGEMENT SERVICES TERMS AND CONDITIONS CUSTOMER ACCEPTANCE We (the "Customer") have agreed to receive one or more Cash Management Services offered by First Interstate Bank, We hereby agree that the provision of the Services by First Interstate and its affiliates shall be governed by, and we acknowledge receipt o( the First Interstate CASH MANAGEMENT SERVICES TERMS AND CONDITIONS, as such document is amended from time to time, We have executed signature card (s) and received rules and regulations governing deposit accounts with respect to our deposit account(s) at First Interstate Bank and one or more of its affiliates, as required by the Services, The persons named on such signature cards are authorized to give instructions on behalf of Customer regarding the Services, CITY OF SAN BERNARDIN) CUSTDMER By: Name: Title: Date: CERTIFICATION I certify that I am the Secretary or Assistant Secretary of the Customer, that the signature of the person signing above is the genuine and authorized signature of that person and that he/she is authorized to sign in the capacity indicated. Signature of Secretary or Assistant Secretary Date: lAD 2002 6/92 RES 93-46, . . 0. First Interstate Bank CASH MANAGEMENT SERVICES TERMS AND CONDITIONS CUSTOMER ACCEPTANCE We (the "Customer") have agreed to receive one or more Cash Management Services offered by First Interstate Bank. We hereby agree that the provision of the Services by First Interstate and its affiliates shall be governed by, and we acknowledge receipt o( the First Interstate CASH MANAGEMENT SERVICES TERMS AND CONDITIONS, as such document is amended from time to time. We have executed signature card(s) and received rules and regulations governing deposit accounts with respect to our deposit account(s) at First Interstate Bank and one or more of its affiliates, as required by the Services. The persons named on such signature cards are authorized to give instructions on behalf of Customer regarding the Services, CUSTOMER By: Name: Title: Date: CERTIFICATION I certify that I am the Secretary or Assistant Secretary of the Customer, that the signature of the person signing above is the genuine and authorized signature of that person and that he/she is authorized to sign in the capacity indicated. Signature of Secretary or Assistant Secretary Date: LAD 2002 6/92