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GARLAND
CITY COUNCIL ITEM SUMMARY SHEET
Agenda Item 11.
City Council Regular Session Agenda
Meeting Date:
10/18/2022
Item Title:
Depository Banking Services
Submitted By:
Matt Watson
Summary of Request/Problem
At the October 10th Work Session, Council considered authorizing a depository bank contract with a financial institution that has been selected through a Request for Application process to meet the City’s banking needs in accordance with the City Council Financial Policy.
Recommendation/Action Requested and Justification
It is recommended that Council approve a resolution indicating their approval to execute a depository bank contract and related agreements with JP Morgan Chase for the period January 1, 2023 through December 31, 2024. The depository bank contract may be extended for three (3) additional one-year periods.
Attachments
RFA Project Recap
Depository Bank Resolution
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