Res 2006-010 - Laserfiche WebLink

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-- -- II Melissa Atkinson, CTP - Treasury Management Susan Sutton - Merchant Services In addition, the Depository agrees to designate Kathaleen Ford Smith as its representative (the "Depository Representative") responsible for overseeing the City's entire account, and to serve as a liaison to the City. 1.5 The Depository will notify the City in writing within 10 days of any changes in Federal or State regulations or laws that would affect this Agreement. The Depository will also notify the City of any services that become available to the City throughout the term of this Agreement. All services will be provided through the Depository's branch located at 308 East Hopkins Street, San Marcos, Texas (the "Hopkins Street Branch"). The City will address all service problems to the Depository Representative. ARTICLE 2 DEPOSITORY SERVICES 2.1 BASIC SERVICES The Depository will: 2.1.1 Provide depository services that, at a minimum, provide 100 percent utilization of idle funds, safety of City funds and securities, efficient utilization of available banking services and minimization of banking costs for the City. These depository services include, but are not limited to, the basic services of receiving deposits, paying items, wiring funds out, receiving wired funds, stop payments and other normal business banking activities. The depository services are described more specifically in the Scope of Services attached to this Agreement as Attachment A as modified by Bank's proposal response. 2.1.2 Assist the City in its goal to earn the best reasonable yield on its funds in all time or demand accounts. The Depository's services will not include any investment transaction activities other than safekeeping services to include receiving and delivering securities, coupon collections, and maturity collections. The City will have sole discretion as to whether any or all City funds are maintained and invested by the City outside of this Agreement. The City is under no obligation to maintain funds with the Depository except under a compensating balance situation. 2.1.3 Charge the City for the performance of the Depository's services under this Agreement in accordance with the Depository Application which is attached to this Agreement as Attachment B. The Depository acknowledges that the City reserves the right to open and/or close any of its accounts throughout the term of this Agreement. All fees listed in Attachment B will apply to new accounts that are opened by the City during the term of this Agreement. 2.1.4 Acknowledge and agree that the following documents are incorporated as part of this 2