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Legislation #: 180529 Introduction Date: 7/19/2018
Type: Ordinance Effective Date: none
Sponsor: None
Title: Authorizing the Director of Finance to execute a contract for banking services with Commerce Bank in an amount not to exceed $500,000.00; authorizing the Director of Finance to exercise the City’s options to renew the contract and to amend the contract without further City Council approval.

Legislation History
DateMinutesDescription
7/19/2018 Filed by the Clerk's office
7/19/2018 Referred to Finance and Governance Committee
7/25/2018 Advance and Do Pass, Debate
7/26/2018 Passed

View Attachments
FileTypeSizeDescription
180529.pdf Authenticated 47K Authentication
180529 Ordinance.pdf Other 63K Ordinance
180529 Fiscal Note Commerce Contract.pdf Fiscal Note 16K Fiscal Note
180529 Fact Sheet.pdf Fact Sheet 133K Fact Sheet

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ORDINANCE NO. 180529

 

Authorizing the Director of Finance to execute a contract for banking services with Commerce Bank in an amount not to exceed $500,000.00; authorizing the Director of Finance to exercise the City’s options to renew the contract and to amend the contract without further City Council approval.

 

BE IT ORDAINED BY THE COUNCIL OF KANSAS CITY:

 

Section 1. That the Director of Finance is hereby authorized to execute a contract, and any required agreements, with Commerce Bank in an amount not to exceed $500,000.00 for banking services, including the City’s main bank account, wholesale and retail lockbox services, Automated Clearing House (ACH) account services, investment safekeeping, and other banking-related services as required from such funds previously appropriated to Account Nos. 19-1000-121200-B, 19-1000-121450-B, 19-1000-272000-B, 19-2170-891299-B, 19-2300-232520-B, and 19-8010-801100-B. A copy of the contract, approved in substantial form, is on file in the office of the Director of Finance.

 

Section 2. That the Director of Finance is hereby authorized to exercise and execute six successive one-year options to renew and to otherwise amend the contract without additional City Council approval with such funds as appropriated by the City Council in the City’s annual budget.

 

________________________________________________

I hereby certify that there is a balance, otherwise unencumbered, to the credit of the appropriation to which the foregoing expenditure is to be charged, and a cash balance, otherwise unencumbered, in the treasury, to the credit of the fund from which payment is to be made, each sufficient to meet the obligation hereby incurred

 

 

_________________________________

Randall. L. Landes

Director of Finance

 

Approved as to form and legality:

 

 

________________________________

Matthew J. Gigliotti

Assistant City Attorney