HomeMy WebLinkAboutR-2010-103 Wells Fargo Bank Banking Services Agreement-DENIED RESOLUTION NO. 2010-103—FAILED 6/22/2010
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, AUTHORIZING AND EXTENDING THE PRESENT
BANKING SERVICES AGREEMENT WITH WELLS FARGO BANK
(FORMERLY WACHOVIA) FOR A PERIOD OF FIVE YEARS; PROVIDING
FOR CONFLICTS; FURTHER, PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, the City's banking services agreement with Wells Fargo Bank expires in
November 2010; and
WHEREAS, the Finance Department has successfully obtained an agreement from
Wells Fargo Bank to continue the existing banking services agreement for a period of five years
with two optional one-year extensions; and
WHEREAS, the existing Wells Fargo banking services agreement provides a lower cost
than the recent proposal and banking services award made by the City of Hollywood to Wells
Fargo Bank, thus reflecting a cost advantage to the City of Dania Beach for continuation of its
existing banking agreement;
NOW,THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF DANIA BEACH, FLORIDA:
Section 1. That the City Commission of the City of Dania Beach authorizes and
directs the City Manager to take all necessary action to continue the City's existing banking
services agreement with Wells Fargo Bank for a period of five years, with two one-year options
for extensions if exercised by the City.
Section 2. That all resolutions or parts of resolutions in conflict with this Resolution
are repealed to the extent of such conflict.
Section 3. That this Resolution shall be in force and become effective immediately
upon its passage and adoption.
MOTION FAILED by a 2-3 vote on June 22, 2010.
C. K. McELYEA
MAYOR-COMMISSIONER
ATTEST:
LOUISE STILSON, CMC
CITY CLERK
APPROVED AS TO FORM AND LEGALITY:
THOMAS J. ANSBRO
CITY ATTORNEY
2 RESOLUTION#2010-103