HomeMy WebLinkAbout2010-063sAour documentslordinances\10\wachovia depository ext ordinance.doc
ORDINANCE NO. 2010-063_
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF DENTON, TEXAS,
AUTHORIZING THE CITY MANAGER OR HIS DESIGNEE TO EXECUTE A THIRD AND
FINAL ONE-YEAR EXTENSION TO THE DEPOSITORY SERVICES CONTRACT WITH
WACHOVIA. BAND., N.A..; AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, on June 6, 2006, the City of Denton and Wachovia Bank, N.A. entered into
a Depository Services Contract whereby Wachovia Bank, N.A. was designated as the primary
depository for operations and payroll accounts, banking, depository, merchant and internet credit
card payment services beginning June 1, 2006 and ending May 31, 20085 with three possible
one-year extensions of the Contract not to extend beyond May 31, 2011, in accordance with the
requirements of Chapter 105 of the Local Government Code; and
WHEREAS, the City of Denton and Wachovia Bank, N.A. desire to initiate the third and
final one --year extension which will begin June 1, 2010 and ending May 31, 2011; NOW,
THEREFORE,
THE COUNCIL OF THE CITY OF DENTON HEREBY ORDAINS:
SECTION 1. The City Manager or his designee is authorized to execute a Third and
Final Amendment to the Depository Services Contract between the City of Denton and
Wachovia Bank, N.A. extending the term of the Contract to May 31, 2011, a copy of which is
attached hereto and made a part hereof for all purposes.
SECTION 2. The following officials: George C. Campbell, City Manager; Jon Fortune,
Assistant City Manager; Howard Martin, Assistant City Manager; Fred Greene, Assistant City
Manager; and Bryan Langley, Director of Finance are hereby authorized to transact business
with the above listed institution regarding daily banking transactions or investments for the City
of Denton.
SECTION 3. The City Manager is authorized to make the expenditure of funds and fees
and take the actions as required by the Depository Services Contract as amended.
SECTION 4. This ordinance shall become effective immediately upon its passage and
approval.
PASSED AND APPROVED this the day of , 2010.
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ATTEST:
JENNIFER. WALTERS, CITY SECRETARY
BY:
APPROVED AS TO LEGAL FORM:
ANITA BURGESS, CITY ATTORNEY
BY: dF
THIRD AND FINAL AMENDMENT TO DEPOSITORY SERVICES CONTRACT
STATE OF TEXAS §
COUNTY OF DENTON §
This Third and Final Amendment to that certain Depository Services Contract executed on June
6, 2006 between the City of Denton, Texas, a municipal corporation located in the State of
Texas, hereinafter referred to as "City," and wachovia Bank, N.A., a bank located in the State of
Texas, hereinafter referred to as "Depository"; said Contract, including all agreements executed
pursuant to the Contract, are hereinafter referred to as the "Contract";
Now, THEREFORE, under the conditions and for the considerations hereinafter expressed, the
parties hereby agree as follows:
SECTION 1. In accordance with Article 1 "Selection and Term" of the Contract, the
Contract is hereby extended for a third and final one-year extension which will begin June 1,
2010 and ending May 31, 2011.
SECTION 2. Save and except as amended hereby, all the remaining articles, terms,
conditions, sections, sentences, clauses, and phrases of the Contract shall remain in full force and
effect.
IN WITNESS of which this Contract has been executed on this the of
2010 by the duly authorized officers of Depository and City.
CITY OF DENTON:
BY. .......
George .Campbell
City Manager
Address:
C it o f Denton
215 E. McKinney
Denton Texas 76201
ATTEST:
JENNIFER WALTERS, CITY SECRETARY
f
Page 1
APPROVED AS TO LEGAL FORM
ANITA BURGESS, CITY ATTORNEY
BY:�
t
wACHOVIA BANK, N.A.
By:
Authorized Signature
Name: Andrew B . D e skl* ns
Title: Senior Vice President
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