CC RES 2014-008 RESOLUTION NO. 2014-08
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO
PALOS VERDES AUTHORIZING THE MAYOR TO EXECUTE THE
UMBRELLA AGREEMENT FOR GENERAL BANKING SERVICES WITH
BANK OF THE WEST AND DESIGNATING SIGNATORIES FOR
IMPLEMENTATION OF THE UMBRELLA AGREEMENT.
WHEREAS, on June 19, 2012, the City Council directed staff to initiate a
competitive bidding process for procurement of general banking services; and
WHEREAS, on October 1, 2012, the City released a Request for Proposals for
general banking services and thereafter received seven proposals, including a proposal
from Bank of the West; and
WHEREAS, on June 1, 2013, the City Council directed City staff to commence
negotiations with Bank of the West for an agreement for banking services based on Bank
of the West's proposal; and
WHEREAS, representatives of City and Bank of the West have negotiated and
prepared a proposed Umbrella Agreement to set forth general banking services to be
provided by Bank of the West based on the Bank's proposal, which is attached hereto as
Exhibit "A" and incorporated herein by this reference as though set forth in full;
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO PALOS
VERDES HEREBY FINDS, ORDERS AND RESOLVES AS FOLLOWS:
Section 1. The Mayor of the City is hereby authorized and directed to execute
in the name of the City of Rancho Palos Verdes the Umbrella Agreement for Banking
Services, attached hereto as Exhibit "A" (and including Exhibits A through N, inclusive)
and incorporated herein by this reference as though set forth in full;
Section 2. The City Manager, Acting City Manager, Interim City Manager, and
City Treasurer of the City are each hereby authorized and directed to execute in the name
of the City of Rancho Palos Verdes all contracts and documents necessary to implement
the terms of the Umbrella Agreement;
Section 3. The following officials, identified by position title, are hereby each
designated and appointed to serve as signatories on behalf of the City of Rancho Palos
Verdes on any accounts that may be established with Bank of the West to implement the
terms of, and in accordance with, the Umbrella Agreement:
(1) City Manager;
(2) Acting or Interim City Manager;
(3) Deputy City Manager; and
R6876-0001\1687829v2.doc
(4) City Treasurer/Director of Finance & Information Technology
Section 4. The City officials identified in Section 3 of this Resolution are each
hereby authorized and directed to do any and all acts necessary to carry out this
resolution and the implementation of the Umbrella Agreement.
PASSED, APPROVED, AND ADOPTED THIS 18Th DAY OF FEBRUARY, 2014.
Mayor
A `T:
City Clerk
STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss
CITY OF RANCHO PALOS VERDES )
I, Carla Morreale, City Clerk of the City of Rancho Palos Verdes, certify that the
foregoing resolution was adopted by the City Council of the City of Rancho Palos Verdes
at a regular meeting held on the 18th day of February, 2014.
City Clerk
Resolution No. 2014-08
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