File #: 19-295    Version: Name:
Type: Ordinance / Regular Agenda Status: Passed
File created: 3/6/2019 In control: City Commission
On agenda: 4/9/2019 Final action: 4/9/2019
Title: P.H. 2019-61: (PUBLIC HEARING 2ND READING) AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A FIRST AMENDMENT TO THE AGREEMENT AND SUB-AGREEMENTS FOR GOVERNMENT BANKING SERVICES BETWEEN THE CITY OF POMPANO BEACH AND JPMORGAN CHASE BANK, N.A.; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE. (Fiscal Impact: $12,000.00) FIRST READING: MARCH 26, 2019
Attachments: 1. Finance Memo to City Manager for Chase Agreement, 2. Attorney Memo - City and JPMorgan Chase N.A. Agreement .pdf, 3. 2019-134 JP MorganChase Bank Svsdocx.pdf, 4. First Amendment to Banking Services Agreement, 5. CofPB Banking Services Contract Renewal Letter - Final, 6. 2014-24 JP Morgan Chase Bank.pdf, 7. JPMorganChase_ City of Pompano Beach Florida Exp 6-1-2019-Approved.pdf

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P.H. 2019-61: (PUBLIC HEARING 2ND READING)

AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF POMPANO BEACH, FLORIDA, APPROVING AND AUTHORIZING THE PROPER CITY OFFICIALS TO EXECUTE A FIRST AMENDMENT TO THE  AGREEMENT AND SUB-AGREEMENTS FOR GOVERNMENT BANKING SERVICES BETWEEN THE CITY OF POMPANO BEACH AND JPMORGAN CHASE BANK, N.A.; PROVIDING FOR SEVERABILITY; PROVIDING AN EFFECTIVE DATE.

(Fiscal Impact: $12,000.00)

 

FIRST READING: MARCH 26, 2019

 

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(Staff Contact: Andrew Jean-Pierre)

 

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Summary Explanation/Background:

JPMorgan Chase Bank was selected to provide the City's general banking services per the
issuance of RFP H-62-2013.  This Ordinance is to execute a first amendment to the agreement and sub-agreements for government banking services between the City of Pompano Beach and JPMorgan Chase Bank, N.A. for one additional five-year period.  The original agreement was entered into on March 17, 2014, approved by Ordinance 2014-24.  See attached memo for additional information.

 

Origin of request for this action: Finance Department

Fiscal impact and source of funding: Estimated annual impact of $12,000 allocated to various accounts based on our interest earnings allocation.

 

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