Action Items 1.
Metro Trans Engineering & Construction Cooperative (MTECC)
- Meeting Date:
- 12/08/2022
REQUESTED ACTION:
MOTION TO APPROVE: A Resolution of the Board of the Metro Transportation Engineering and Construction Cooperative (MTECC), approving an Agreement with Wells Fargo Bank, N.A. for Treasury Management Services, designating authorized signatories, providing for implementation, providing for conflict, and an effective date.
WHAT THIS ACTION ACCOMPLISHES:
Approval of this item will allow for an agreement to be finalized/executed between MTECC and Wells Fargo Bank, N.A. The MTECC Interim Executive Director will then have the ability to work with Wells Fargo to open banking accounts necessary for MTECC's business operations.
SUMMARY EXPLANATION/BACKGROUND:
As part of its start-up operations, it will be necessary for MTECC to enter into an agreement for banking services, in order to open bank accounts necessary to conduct MTECC business. The agreement being presented to the MTECC Board is an agreement that will "piggyback" on the current Broward MPO agreement for banking services. The rates and fees for as-needed accounts and services are the same as being provided to the Broward MPO.
MPO STAFF RECOMMENDATION(S):
Staff recommends approval of this item, to begin MTECC banking services with Wells Fargo Bank, N.A.
ADDITIONAL INFORMATION/PREPARER:
If you have any questions about this item, please contact Chris Bross at (954) 876-0064 or brossc@browardmpo.org.