HomeMy WebLinkAbout~Master - Extension of Banking Contract with Brenton Bank through 9/30/2000 RESOLUTION NO. 00-159
RESOLUTION APPROVING EXTENSION OF
CURRENT BANKING CONTRACT WITH
BRENTON BANK THROUGH SEPTEMBER 30, 2000
FOR THE CITY OF AMES,IOWA
WHEREAS,the existing contract for banking services with Brenton Bank will expire on June
30, 2000; and,
WHEREAS,Requests for Proposals are being prepared for distribution for the new contract
period; and,
WHEREAS, during the past six years that Brenton Bank has served as the depository bank
for the City of Ames,the electronic transactions processed have more than tripled in volume; and,
WHEREAS, this factor, while the way of the future, creates a large number of people and
institutions that must be notified of any change in banking services; and,
WHEREAS, because the expiration date of the contract falls at the end of the fiscal year
when other demands are made on staff time in the Finance Department, it is the staff s
recommendation that the contract for banking services be extended for three months so that a smooth
and accurate conversion can occur if the bid is awarded to a different bank; and,
WHEREAS,Brenton Bank has agreed to extend the existing banking services contract until
September 30, 2000, at the current rate of$1,400/month.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the extension of the banking services contract with Brenton Bank thru September 30, 2000, at
a cost of$1,400/month is hereby approved.
ADOPTED THIS 25th day of April, 2000.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Quirmbach
Seconded by: Wirth
Voting aye: Campbell, Cross, Goodhue, Hoffman, Quirmbach, Wirth
Voting nay: None Absent: None
Resolution declared adopted and signed by the Mayor this 25th day of April, 2000.