HomeMy WebLinkAboutContract 37354-A1 CITY SECRETARY
CONTRACT NO, 7
STATE OF TEXAS § FIRST AMENDMENT TO
§ CITY SECRETARY CONTRACT
COUNTY OF TARRANT § NO. 37354
This FIRST AMENDMENT TO CITY SECRETARY CONTRACT NO. 37354
("Amendment") 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, made and entered into City of Fort Worth City
Secretary Contract No. 37354, ("CONTRACT") on or about July 14, 2008, which was
authorized by the City Council by M&C C-22867 on June 17, 2008; and
WHEREAS, the CONTRACT involves Depository Banking Services; and
WHEREAS, the CONTRACT expires September 30, 2011; and
WHEREAS, pursuant to Section III of the CONTRACT, the CITY and BANK wish to
renew the CONTRACT for the first of two one-year options to renew under the same terms and
conditions, thereby extending the term of the CONTRACT through September 30, 2012.
NOW, THEREFORE, CITY and BANK, agree as follows:
1.
Section III of the CONTRACT is amended to extend the term of the Agreement through
September 30, 2012, with one remaining option to renew, for one additional year, upon mutual
agreement of the parties.
First Amendment to Contract No. 37354 OFFICIAL RECORD
Page 1 of 2
CITY SECRETARY
FT.WORTH, TX
2.
All other terms and conditions of the CONTRACT that are not expressly amended herein
shall remain in full force and effect.
Executed on this the day of lam-+ - , 2011.
ATTEST: ® CITY OF FORT WORTH:
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Ma Hendrix o° °°
Marty (���- OOpp° ° -Karen Montgomery
City Secretary �a °° icy"'Assistant City Manager (O%
APPROVED AS TO FORM BANK:
AND LEGALITY:
JP M rg Ch s
By:
Maleshia Farmer Name: J. ichael Wilson
Assistant City Attorney Title. irst Vice President
420 T orton, Suite 400
Contract Authorization: Fort Worth, Texas 76102
M&C: C-22867
Date Approved: 6/17/2008
OFFICIAL RECORD
CITY SECRETARY
FT. WORTH, TX
First Amendment to Contract No. 37354
Page 2 of 2
M&C - Council Agenda Page 1 of 2
City of Fort Worth, Texas
Mayor and Council Communication
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COUNCIL ACTION: Approved on 6/17/2008
DATE: Tuesday, June 17, 2008 REFERENCE NO.: C-22867
LOG NAME: 13C08-0076BANK
SUBJECT:
Authorize Execution of Necessary and Related Agreements with JP Morgan Chase Bank, N.A., for Banking
and Depository Services for the Finance Department for a Cost Not to Exceed $1,264,632
RECOMMENDATION:
It is recommended that the City Council:
1. Authorize execution of necessary and related agreements with JP Morgan Chase Bank USA, N.A., for
banking and depository services for the Finance Department for a cost not to exceed $1,264,632; and
2. Authorize the agreements for a term of three years.
DISCUSSION:
The City will use these agreements to provide banking and depository services for all City departments. A
Request for Proposals (RFP) was issued March 19, 2008. The City received three responses to the
RFP.
The scope of the work for these agreements includes most banking and depository services needed by
the City. The agreements do not cover asset management services for oil and gas revenues; those
services will be covered by a separate agreement.
Proposals were rated on responsiveness, ability to provide required services and reports, banking
services costs, earnings potentials, experience, references, continuity of bank and bank officials,
creditworthiness, stability of the bank, M/WBE participation, and supplier diversity program.
The evaluation team consisted of representatives from the Development Department, the Finance
Department, the M/WBE Office, and the Water Department. Through the evaluation process, JP Morgan
Chase Bank, N.A., was determined to have submitted the best evaluated proposal.
ADVERTISEMENT - This RFP was advertised in the Fort Worth Star-Telegram on March 19, March 26,
April 2 and April 9, 2008. On April 17, 2008, proposals were received from Bank of Texas, JP Morgan
Chase Bank, N.A., and Frost Bank. Two banking companies declined the invitation to submit proposals.
M/WBE - JP Morgan Chase Bank, N.A., is in compliance with the City's M/WBE Ordinance by committing
to five percent M/WBE participation. The City's goal for these agreements is five percent.
CONTRACT TERM - These agreements will begin on July 1, 2008, and expire on June 30, 2011.
RENEWAL OPTIONS - These agreements may be renewed for up to two one-year terms at the City's
option. This action does not require specific City Council approval provided that the City Council has
appropriated sufficient funds to satisfy the City's obligations during the renewal terms.
http://apps.cfwnet.org/ecouncil/printmc.asp?id=9707&print=true&DocType=Preview 6/15/2011
M&C - Council Agenda Page 2 of 2
FISCAL INFORMATION / CERTIFICATION:
The Finance Director certifies that funds are available in the current operating budget, as appropriated, of
the General Fund and Water and Sewer Fund.
RFP\08-0076\JJD
FUND CENTERS:
TO Fund/AccountlCenters FROM Fund/Account/Centers
GG01 539120 0905500 $394,632.00
PE45 539120 0604007 $435,000.00
PE45 539120 0704007 $435,000.00
CERTIFICATIONS:
Submitted for City Manager's Office by: Karen Montgomery (6222)
Originating Department Head: Lena Ellis (8517)
Additional Information Contact: Jenny Townsend (6030)
ATTACHMENTS
No attachments found.
http://apps.cfwnet.org/ecouncil/printmc.asp?id=9707&print=true&DocType=Preview 6/15/2011