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<br />I <br /> <br />I <br /> <br />I <br /> <br />~ <br /> <br />152. <br /> <br />DEPOSITORY SERVICES AGREEMENT <br /> <br />This AGREEMENT is made this the J~ day of ~,((h ,2006, between the <br />City of San Marcos, Texas ("City"), 630 East Hopkins, San Marcos, Texas 78666 and Bank of <br />America, N.A. (the "Depository") 515 Congress Avenue, Austin, Texas 78701-3503, for the <br />provision of banking depository services. <br /> <br />The City and the Depository agree as follows: <br /> <br />ARTICLE 1 <br />STANDARDS OF PERFORMANCE <br /> <br />1.1 The performance of all services by the Depository in connection with this Agreement will <br />be by persons appropriately licensed or registered under State, local and Federal laws. The <br />Depository certifies that it is a federally chartered financial institution, a member of the Federal <br />Reserve System and is insured by the Federal Depository Insurance Corporation (the "FDIC"). In <br />performing all services under this Agreement, the Depository will use that degree of care and <br />skill ordinarily exercised by national financial institutions that possess special expertise in the <br />types of services involved under this Agreement. <br /> <br />1.2 No work under this Agreement will be subcontracted by the Depository without prior <br />written approval from the City. Any work or services subcontracted under this Agreement will <br />be specified by separate written agreement and will be subject to each provision of this <br />A.greement. <br /> <br />1.3 Any prOVlSlons in this Agreement pertaining to the City's reVIew. approval and/or <br />acceptance of written materials prepared by the Depository and/or its subcontractors in <br />connection with this Agreement will not diminish the Depository's responsibility for the <br />materials. <br /> <br />1.4 The Depository will perform all of its services in coordination with the City. The <br />Depository will advise the City of data and information the Depository needs to perform its <br />services. The City may require a review meeting with Depository representatives occasionally to <br />evaluate the working relationship between the City and the Depository. The objective of these <br />meetings is to address any problems and to discuss the procedures involved in protcr:ting the <br />City's funds and pledged collateral. The Depository verifies that its personnel listed below are <br />qualified to provide information and assistance to the City in the following areas on a daily basis: <br /> <br />a. General information <br />b. Investments and safekeeping <br />c. Accounting/bookkeeping <br />d. Deposit discrepancies <br />e. Wire transfers <br />f. Vault service <br />g. Balance Reporting: <br />