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HomeMy WebLinkAboutC-2154 - City's banking servicesso TO: FINANCE DIRECTOR FROM: City Clerk 40 CITY OF NEWPORT BEACH CALIFORNIA City Bail 3300 W, Newport Blvd. Area Code 714 DATE February 20. 1980 SUBJECT: Contract No. C -2154 Description of Contract gaming Services with grcnr; y Panific- Natinnn1 Bank Authorized by Resolution No. 9731 , adopted on FPh_ ,-,_ ,.,T, lgun Effective date of Contract Contract with Security Pacific National Flank Address 3475 Via Li�3 Amount of Contract see contract City Clerk lu 40 February 20, 1980 Security Pacific National lank 3475 Via lido Newport Beach, California 92663 40 Subject: Banking Services with Security Pacific National Hank and the City of WxTort Peach. Dickered is a fully executed copy of subject agreawmt. Ito City Cmzxll of Newport Beach authorized the execution of this agreement on February 11, 1990 by adoption of Rasoluticn No. 9731. Effective date of agreement, April 1, 1980. ► N , DG:bf encl. bcc: George Pappas Finance Director /� CITY OF NEWPORT BEACH FEB 111980 FINANCE DEPARTMENT AGENDA ITEM H 2 b By %* CITY COUNCIL February 11, 1980 CITr Q# via~ MACH TO: Mayor and City Council FROM: Finance Director SUBJECT: BANKING SERVICES AGREEMENT: The Security Pacific National Bank's three year banking services agreement expires on March 31, 1980. The staff recommends the City Council adopt a resolution authorizing the execution of a Banking Services Agreement between the City of Newport Beach and Security Pacific National Bank from April 1, 1980 thru March 31, 1985. It would be to the City's advantage to renew the agreement. Currently, there is an eighteen month supply of both payroll and vendors pre - printed checks on hand. The banking services procedures are efficiently establi9hed -and familiar to both the City's and Security Pacific National Bank's personnel. Also, the parking meters being located in the section of the City near the bank provides con- venient pick -up and deposit for parking meter personnel. Security Pacific National Bank, due to its proximity to City Hall, would be better able to service t' savings. GP:dp Finance a RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AN AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH AND SECURITY PACIFIC NATIONAL BANK IN CONNECTION WITH THE CITY'S BANKING SERVICES WHEREAS, there has been presented to the City Council of the City of Newport Beach a certain agreement between the City of Newport Beach and Security Pacific National Bank in connection with the City's banking services; and WHEREAS, the City Council has reviewed the terms and conditions of said agreement and finds them to be satisfactory and that it would be in the best interest of the City to authorize the Mayor and City Clerk to execute said agreement, NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Newport Beach that the said agreement above described is approved, and the Mayor and City Clerk are hereby authorized and directed to execute the same on behalf of the City of Newport Beach. ADOPTED this 11th day of February , 1980. ATTEST: City Clerk Mayor HRC /kv 1/2/80 AGREEMENT FOR BANKING SERVICES THIS AGREEMENT dated the 0212 kv 4-3 day of February 1980, is between the CITY OF NEWPORT BEACH, hereinafter referred to as "City," whose address is 3300 Newport Boulevard, Newport Beach, California, and SECURITY PACIFIC NATIONAL BANK, herein- after referred to as "Bank," whose address is 3475 Via Lido, Newport Beach, California. R E C I T A L S: A. Bank, pursuant to a request therefor by City, has submitted a proposal to provide certain banking services. B. City wishes to accept Bank's proposal to provide services for an average collected daily balance of Two Hundred Sixty -Five Thousand Dollars ($265,000.00). A G R E E M E N T: I. TERM. This Agreement shall be for a term of three (3) years, commencing 6n the 1st day of April, 1980, and ending on the 31st day of March, 1983; PROVIDED, however, that either party to this Agreement may terminate said Agreement upon giving the other party ninety (90) days' prior written notice of its intention to terminate. to City: II. SERVICES TO BE FURNISHED BY BANK. Bank agrees to provide the following services A. Bank and City agree that Bank shall act as the sole demand depository of City (City reserves the right ►1l L ri] to place term deposits with other institutions or to invest in securities of the United States Government and federal agencies, as may be determined by City to be in its best interest), as follows: (1) General Account. Bank shall accept deposits of City, endorse and photograph all checks deposited, and return to City all paid checks in numerical order with an automated account reconciliation. (2) Payroll Account. Bank shall accept deposits of City or honor other authorized transfer of funds to the account. Each payroll check drawn will be paid by the Bank and returned with an automated account reconciliation, on a regular schedule to be determined by City. (3) Checks and Supplies. Bank shall furnish to City, pre - printed to City specifications, all checks, deposit slips, and other instruments pertaining to transactions for the different accounts. (4) Depository for Funds. Deposits to the credit of City will be provided for as stated below. Every check received will be endorsed by Bank and all previous endorsements will be guaranteed. A photocopy of each deposited check will be taken and maintained by Bank for a period of two (2) years. B. Night Depository Services: Night depository will be provided by Bank for, but not limited to, the following City uses: (1) Parking Meter Receipts. These receipts, it is understood, will consist of coins to be counted by Bank. A deposit slip for these monies will be prepared by Bank and forwarded daily to City. (2) Parking Lots Receipts. These receipts, it is understood, may or may not be accompanied by a deposit -2- N N slip, depending on circumstances and the discretion of City. A deposit slip will be prepared or the accompanying one will be verified by Bank and forwarded daily to City. In the handling of night deposits, which will consist largely of currency, Bank will provide depository bags and secure seals to be used by personnel in making such deposits. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. ATTEST: City Clerk APPROVED AS TO FORM: CITY OF NEWPORT BEACH A Municipal Corporation By Mayor SECURITY PACIFIC NATIONAL BANK M By ems- icc: As.s ant Vice re ent .8ECURITY PACIFIC NATIONAL BANK -3- HRC :kv:2 -1 -60 0 go December 27, 1976 Security Pacific National Beak 3475 Via Lido Newport Beach, CA 92663 Subject: Banking Agreement Enclosed is a fully executed copy of the Baskin Agreement No. C -1342 between the Security Pacific National Beak and the City of Newport Beach. This contract was autborisedbby the adoption of Resolution No. 8951 by the City Council of the City of Newport Beach on December 13, 1976. Doris George City Clark DO:eg cc: City Attorney Finance Director a SECURITY PACIFIC NATIONAL BANK NEWPORT BEACH BRANCH, 3475 VIA LIDO, NEWPORT BEACH - PHONE (774)6468951 MAILING ADDRESS: POST OFFICE BOX 1847, NEWPORT BEACH, CALIFORNIA 92663 November 24, 1976 Mr. George Pappas, Finance Director City of Newport Beach 3300 Newport Boulevard Newport Beach, California 92663 Dear Mr. Pappas: We wish to amend our Services Bid Proposal letter previously submitted, in the following manner: The amount of average daily balances quoted at $450,000 should be amended to read "collected balances of $200,000 ". Thank you for your consideration. Sincerely, FZ:rh F. President RESOLUTION NO. A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF NEWPORT BEACH AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AN AGREEMENT BETWEEN THE CITY OF NEWPORT BEACH AND SECURITY PACIFIC NATIONAL BANK IN CONNECTION WITH THE CITY'S BANKING SERVICES WHEREAS, there has been presented to the City Council of the City of Newport Beach a certain agreement between the City of Newport Beach and Security Pacific National Bank in connection with the City's banking services; and WHEREAS, the City Council has reviewed the terms and conditions of said agreement and finds them to be satisfactory and that it would be in the best interest of the City to authorize the Mayor and City Clerk to execute said contract; NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Newport Beach that said agreement above described is approved, and the Mayor and City Clerk are hereby authorized and directed to execute the same on behalf of the City of Newport Beach. ADOPTED this 13th day of Mayor ATTEST: City Clerk December , 1976. DDO /bc 12/8/76 to AGREEMENT FOR BANKING SERVICES THIS AGREEMENT dated the day of � A G r4f8 G.G 1976, is between the CITY OF NEWPORT BEACH, hereinafter called "City ", whose address is 3300 Newport Boulevard, Newport Beach, California; and SECURITY PACIFIC NATIONAL BANK, hereinafter called "Bank ", whose address is 3475 Via Lido, Newport Beach, California. R E C I T A L S: A. Bank, pursuant to a request therefor by City, has submitted a proposal to provide certain banking services. B. City wishes to accept Bank's proposal to provide services for an average collected daily balance of Two Hundred Thousand Dollars ($200,000.00),as set forth in the attached proposal marked Exhibit "A" which is incorporated herein as though fully set forth. A G R E E M E N T: I. TERM. This Agreement shall be for a term of three (3) years, commencing on the 1st day of April, 1977, and ending on the 31st day of March, 1980; PROVIDED, however, that either party to this Agreement may terminate said Agreement upon giving the other party ninety (90) days' prior written notice of its intention to terminate. City: II. SERVICES TO BE FURNISHED BY BANK. Bank agrees to provide the following services to -1- to A. Bank and City agree that Bank shall act as the sole demand depository of City (City reserves the right to place term deposits with other institutions or to invest in securities of the United States Government and Federal agencies, as may be determined by City to be in its best interest), as follows: (1) General Account Bank shall accept deposits of City, endorse and photograph all checks deposited, and return to City all paid checks in numerical order with an automated account reconciliation. (2) Payroll Account. Bank shall accept deposits of City or honor other authorized transfer of funds to the account. Each payroll check drawn will be paid by the Bank and returned with an automated account reconciliation, on a regular schedule to be determined by City. (3) Checks and Supplies. Bank shall furnish to City, pre - printed to City specifications, all checks, deposit slips, and other instruments pertaining to transactions for the different accounts. (4) Depository for Funds. Deposits to the credit of City will be provided for as stated below. Every check received will be endorsed by Bank and all previous endorsements will be guaranteed. A photocopy of each deposited check will be taken and maintained by Bank for a period of two (2) years. B. Armored Car Pickup: A daily pickup by armored carrier of deposits from City Hall to the Bank will be arranged on a schedule to be determined by the City. C. Night Depository Services: Night depository will be provided by Bank for, but not limited to, the following City uses: -2- (1) Parking Meter Receipts. These receipts, it is understood, will consist of coins to be counted by Bank. A deposit slip for these monies will be prepared by Bank and forwarded daily to City. (2) Parking Lots Receipts. These receipts, it is understood, may or may not be accompanied by a deposit slip, depending on circumstances and the discretion of City. A deposit slip will be prepared or the accompanying one will be verified by Bank and forwarded daily to City. In the handling of night deposits, which will consist largely of currency, Bank will provide depository bags and secure seals to be used by personnel in making such deposits. IN WITNESS WHEREOF, the parties hereto have executed this agreement as of the date first above written. ATTEST: Cilerk APPROVED AS TO FORM: eftgd City Attorney CITY OF NEWPORT BEACH A M n' al Corporation gYi 1 Mayor SECURITY PACIFIC NATIONAL BANK By elll V. Frz >, G Manager In -3- CITY BANK DDO /bc 12/14/76