HomeMy WebLinkAbout028-2015AUTHORIZING THE TOWN MANAGER TO EXECUTE A MASTER SERVICES
AGREEMENT AND RELATED DOCUMENTS WITH U.S. BANK NATIONAL
ASSOCIATION FOR BANKING SERVICES
WHEREAS, local government agencies select private banks as their designated banking
depository for the payment, transfer and withdrawal of funds for day-to-day transactions
including payments for invoices, receipt of payments from constituents, payroll
payments, wire transfers to and from investment accounts and other banking needs; and
WHEREAS, California law requires funds owned or held by local government to be fully
collateralized; and
WHEREAS, the Town of Danville issued a Request for Proposals (RFP) for banking
services and received proposals from seven (7) banks; and
WHEREAS, the Town of Danville evaluated the proposals and interviewed three (3)
banks based on their ability to meet the Town's minimum banking service needs,
experience with public agencies, financial strength, transition to the new bank and
reliability of an online banking system; and
WHEREAS, U.S. Bank National Association met or exceeded the Town's criteria and
offered the most cost -competitive proposal; now, therefore, be it
RESOLVED, that the Danville Town Council hereby authorizes the Town Manager to
execute a Master Services Agreement and related documents with U.S. Bank National
Association for Banking Services.
APPROVED by the Danville Town Council at a regular meeting on April 7, 2015, by the
following vote:
AYES: Doyle, Stepper, Ariterich, Morgan, Storer
NOES: None
ABSTAINED: None
ABSENT: None �.
MAYOR
APPROVED AS TO FORM:
CITY ATTORNEY