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CONTRACT NO
STATE OF TEXAS § SECOND AMENDMENT TO
§ CITY SECRETARY CONTRACT
COUNTY OF TARRANT § NO. 28056
This SECOND 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 JPMorgan 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
WHEREAS, the CITY and BANK entered into an agreement (City Secretary Contract
No. 35844) to extend the term of the CONTRACT until October 14, 2007; and
WHEREAS, in M&C C-22435 the City Council authorized extending the term of the
CONTRACT through March 31, 2008.
NOW, THEREFORE, CITY and BANK, agree as follows:
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 March 31, 2008."
Second Amendment to Contract No. 28056
Page 1 of 2
2.
All other provisions of the CONTRACT that are not expressly amended herein shall
remain in full force and effect.
Executed on this the eday of Q , 2007 .
ATTEST: CITY OF FORT WORTH
City Secretary Karen Montgomery l//
14
Assistant City Manage CFO
APPROVED AS TO FORM BANK:
JP M rgan has
By:
Assistant City A,1t ey Name: M hael son
Title: S nio Vice President
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-- 420 Thro orton, Suite 400
Contract Authorization Fort Worth, Texas 76102
Date
Second Amendment to Contract No. 28056
Page 2 of 2
CIO
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Page 1 of
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 10/9/2007
DATE: Tuesday, October 09, 2007
LOG NAME: 13EXTENDCHASE REFERENCE NO.: **C-22435
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;
2. Authorize this agreement to begin October 15, 2007, and expire March 31, 2008.
DISCUSSION:
On August 20, 2002, the City Council approved M&C 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 Manager's Office entered into an administrative amendment to extend the
contract for two weeks to allow staff time to bring this issue before Council.
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.
Under the City's current arrangement with Chase, the City receives a monthly interest credit for certain
deposits, which is used to offset the fees associated with services the City uses.
Staff requests this extension in order to allow sufficient time to issue a Request for Proposals, to review any
proposals and to make a recommendation to Council.
FISCAL INFORMATIONICER.TIFICATION:
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)
http://www.cfwnet1org/council_packet/Reports/mc_print.asp 11/13/2007