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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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