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.
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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
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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