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CONTRACT NO Y !0-7
STATE OF TEXAS § THIRD AMENDMENT TO
§ CITY SECRETARY CONTRACT
COUNTY OF TARRANT § NO. 28056
This THIRD AMENDMENT TO CITY SECRETARY CONTRACT NO. 28056
("Agreement") is made and entered into by and between THE CITY OF FORT WORTH
("CITY"), a home rule municipal corporation situated in Tarrant, Denton, Parker and Wise
Counties acting by and through its duly authorized Assistant City Manager, and JP MORGAN
CHASE ("BANK") acting by and through its duly authorized representative.
WHEREAS, the CITY and Bank One, NA, predecessor in interest to BANK, made and
entered into City of Fort Worth City Secretary Contract No. 28056, ("CONTRACT"), which
was authorized by the City Council by M&C P-9653 on the twentieth day of August, 2002; and
WHEREAS, the CONTRACT involves Depository Banking Services; and
WHEREAS, the CITY and BANK entered into an agreement (City Secretary Contract
No. 35844)to extend the term of the CONTRACT through October 14, 2007; and
WHEREAS, the CITY and BANK subsequently entered into a second agreement (City
Secretary Contract No. 36115) to extend the term of the CONTRACT through March 31, 2008;
and
WHEREAS, CITY and BANK now wish to extend the term of the CONTRACT through
June 30, 2008.
NOW, THEREFORE, CITY and BANK, agree as follows:
Third Amendment to Contract No.28056 I
Page 1 of 2
P. nz, : 39 IN
1.
The first paragraph of Article III of the CONTRACT is amended to add the following
sentence: "CITY and BANK consent to keep this Agreement effective until June 30, 2008."
2.
All other provisions of the CONTRACT that are not expressly amended herein shall
remain in full force and effect.
Executed on this the I Lt day of 2008.
ATTEST: CITY OF FORT WORTH:
f�� "�� voj�
Marty Hendrix Karen Montgomery
City Secretary Assistant City Manager/CFO
APPROVED AS TO FORM BANK:
AND LEGALITY:
JP M rgan a e
By:
Maleshia .Farmer Name: J. i hael Wilson
Assistant City Attorney Title: Fir t V ce President
420 Throckmorton, Suite 400
Contract Authorization: Fort Worth, Texas 76102
M&C: C-22736
Date Approved: 4/1/08
Third Amendment to Contract No.28056 : : ? �'1►�y
Page 2 of 2
����� ULG�o
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 4/1/2008
DATE: Tuesday, April 01, 2008
LOG NAME: 13EXTENDCHASE2 REFERENCE NO.: **C-22736
SUBJECT:
Authorize Amendment to Extend the Term of the Contract with JPMorgan Chase for Banking
Services
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize the City Manager to extend the contract with JPMorgan Chase for banking services; and
2. Authorize this agreement to begin April 1, 2008, and expire June 30, 2008.
DISCUSSION:
On August 20, 2002, the City Council approved Mayor and Council Communication P-9653, that authorized
the City Manager to enter into a contract with BANK ONE as predecessor in interest of JPMorgan Chase
("Chase") for banking services for three years with options to renew for two successive one-year
periods. The second extension ended on September 30, 2007. The City Council approved Mayor and
Council Communication C-22435 on October 9, 2007, to extend the contract to March 31, 2008.
Under this contract, Chase provides banking services to all City departments. Chase and its predecessor in
interest BANK ONE have provided these services satisfactorily for the last fifteen years.
A Request for Proposal was released on March 19, 2008. The deadline for proposal submission is April 17,
2008. Staff requests an extension in order to allow sufficient time to review the proposals and anticipate
to submit a recommendation to award the contract on or about May 27, 2008 to the financial institution that
best meets the City's main cash management goals.
FISCAL INFORMATION/CERTIFICATION:
The Finance Director certifies that this action will have no material effect on City funds.
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by Karen Montgomery (6222)
Originating Department Head: Lena Ellis (8517)
Additional Information Contact: Jenny Townsend (6030)
Logname: 13EXTENDCHASE2 Page I of I