HomeMy WebLinkAboutResolution 95-121 05/15/1995 RESOLUTION NO. g4_,,, N.C.S.
of the City of Petaluma, California
1 RESOLUTION AUTHORIZING THE OPENING OF ACCOUNTS WITH THE BANK OF AMERICA
2 FOR THE PURPOSE OF PROVIDING GENERAL OPERATING BANKING SERVICES
3
4 WHEREAS, the City of Petaluma requires general banking services in order to conduct
5 the day to day financial transactions of the City; and
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7 WHEREAS, the City requested proposals for banking services from all ten banks, savings
8 banks and savings and loans with branches in the City; and
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10 WHEREAS, six banks responded to the request and provided a description of the
11 services, unit pricing and earnings credit programs; and
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13 WHEREAS, the Bank of America quoted the lowest unit prices for banking services and
14 provided an earnings credit program that would generate the highest net earnings based on the
15 comparison used at the time of the evaluation of quotes; and
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17 WHEREAS, Bank of America has extensive experience in providing banking services to
18 public agencies throughout the State and will be able to meet the banking service needs of the City of
19 Petaluma; and
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21 WHEREAS, the Bank of America has agreed to provide the banking services at theunit
22 prices quoted in the response to the request for proposal, incorporated herein by reference and on file
23 with the City Treasurer, for a three year period and with a review of unit prices no later than six months
24 prior to the end of the three year period.
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26 NOW, THEREFORE BE IT RESOLVED that the City Council of the City of Petaluma
27 authorizes the opening of accounts with the Bank of America for the purpose of providing general
28 operating banking services..
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Undar the power and authority conferred upon thia Council by the Charter of said City.
REFERENCE: I hereby certify the foregoing Resolution was introduced and adopted by the Approved as to
Council of the City of Petaluma at a (Regular) dAci~aatsAV~ldx6pp~eldxl) meeting. fo~rm/~
on the ..._15t~--......... daY of ..................~1.1y..........................-......-, 19.5.`a.., by the ~ /L.
following vote:
City Attorney
AYES: Shea, Maguire, Barlas, Stompe, Hamilton, Vice Mayor Read
NOES: None.
ABSENT: None ABSTAIN: Mayor Hilligo ~ ''J ~ ~
ATTEST: ~L.l! f.,~! '--Y ......:...ih'~.,...."-----......._ .
City Clerk ~ Ma or
Cblmdt Fila..~.._._.._......_._
CA 1085 Rcs. Na 955.-1, Z, 1,,,,_„ N.C.S.