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Res 2010-078
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Res 2010-078
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Last modified
7/6/2010 8:23:14 AM
Creation date
6/7/2010 2:56:03 PM
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City Clerk
City Clerk - Document
Resolutions
City Clerk - Type
Agreement
Number
2010-78
Date
6/1/2010
Volume Book
186
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2.2.1 The City and the Depository agree that any substantial deviations from the scope of <br />services as they are described in Section 2.1 of this Agreement are considered additional <br />services. The Depository will submit a written estimate of the total fee for any additional services <br />to the City and obtain the City's authorization before initiating any additional services. Should <br />the City choose to utilize additional services available from the Depository that are not included <br />in this Agreement, the City will negotiate the cost for those services with the Depository and will <br />pay the negotiated rate. <br />2.2.2 Each material change (deletion or addition) in the services to be provided by the <br />Depository must be authorized by the City on the Authorization of Change in Services form <br />attached to this Agreement as Attachment G. Compensation for additional services will be in <br />addition to that specified for those services referenced in Section 2.1. The approval of the City's <br />governing body is necessary for all additional services the compensation for which exceeds <br />$50,000.00. <br />ARTICLE 3 <br />THE CITY'S RESPONSIBILITIES <br />The City will: <br />3.1 Provide full information to the Depository regarding the City's requirements for the <br />Depository's services under this Agreement. The City will furnish the Depository with copies of <br />data and information in the City's possession needed by the Depository to perform its services, at <br />the Depository's request. <br />3.2 Designate Heather Hurlbert, Assistant Director Finance as the City's authorized <br />representative to act on the City's behalf with respect to this Agreement. The City will examine <br />the documents and information submitted by the Depository and promptly render responses to <br />the Depository on issues requiring a decision by the City. <br />3.3 Bear all costs incident to this Article. <br />ARTICLE 4 <br />COMPENSATION <br />4.1 PAYMENTS TO THE DEPOSITORY <br />4.1.1 The City will compensate the Depository for the performance of its services as proposed <br />in Attachment B, Fee Schedule that is attached to this Agreement, on either a fee or <br />compensating balance basis in accordance with established industry practice. The Depository <br />acknowledges that the City reserves the right to open and/or close any of its accounts throughout <br />the term of this Agreement. All fees listed in Attachment B will apply to new accounts that are <br />opened by the City during the term of this Agreement. <br />4.1.2 It will be the City's sole option as to which compensation methodology it will utilize. <br />The City will notify the Depository of a change in compensation methodology at least 30 <br />3 <br />
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