R2021-207 2021-09-13 RESOLUTION NO. R2021-207
A Resolution of the City Council of the City of Pearland, Texas, renewing a
contract for Bank Depository Services with Wells Fargo Bank for the period
beginning October 1, 2021 and ending September 30, 2022 (third of three
(3) one year renewals).
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PEARLAND, TEXAS:
Section 1. That the City previously awarded a. contract for Bank Depository
Services.
Section 2. That the City Council hereby renews a contract for Bank Depository
Services with Wells Fargo Bank for a one (1) year term.
Section 3. The City Manager or his designee is hereby authorized to execute a
contract for Bank'Depository Services.
PASSED, APPROVED and ADOPTED this the 13th day of September, A.D., 2021.
ee"
VIN COLE •
AYOR
ATET:
Y TAL OAN, TRMC, CMC ���,,,,,,1llll
CITY SECRETARY QR 44/434 o•� EA •
APPROVED AS TO FORM: O•
DARRIN M. COK R '/01%` jj..
A� •••
CITY ATTORNEY ..
��'���1lII UHI lU .pu......``�
Memo
PEAP,LAI•p
To: Clay Pearson, City Manager - E X A -5
EST' ig9A
From: Kristen Woolley, Deputy Director of Finance
CC: Amy Johnson, CFO
Julie Blackrnore, Contract Administrator
Date: August 27, 2021
Re: Contract Renewal—Wells Fargo Bank, N.A.
Pursuant to Texas Local Government Code Sec.105.017, Term of Depository Contract,
a municipality may approve, execute, and deliver any depository services contract whose
term does not exceed five years. The City's current bank depository contract was
awarded at the regular council meeting on September 18,-2017. The contract term
approved was for a period of two (2) years, beginning October 1, 2017 and ending
September 30, 2019, with the option of three (3) additional one-year terms. The second
of the three one-year renewals was approved by council at the September 28, 2020
Regular Meeting.
In preparation for the award of the contract in 2017, the city utilized the services of Valley
View Consulting, L.L.C. for the depository Request for Application.(RFA) process. It was
determined at that time that the incumbent bank, Wells Fargo Bank, N.A. (Wells Fargo),
would be retained, citing that they had been a "good business partner" and had provided
the City a very competitive offer to maintain the relationship.
Over the past four years, Wells Fargo has continued to provide current services and
technology features, a monthly allowance for armored car services, and securities
clearance and safekeeping at no additional cost. They have been very responsive to all
our needs and requests. .
At this time, the staff is recommending that the contract term be extended for the third
and final of three additional one-year terms. An agenda request will be forthcoming for a
future council meeting, for council's consideration of this recommendation to continue the
banking,relationship with Wells Fargo. This final renewal will bring the total contract term
to five years ending on September 30, 2022. The RFA process for a new contract to begin
on October 1, 2022 will start in February 2022.
•
Qt r • City of Pearland
G
' . Q 3523 Liberty Drive
PE
Pearland, Texas 77581
y
g x A 4s}=' 28.1-652-1600.
4''s`T. t a9'' pearlandix.gov
August 20,2021
Mr.Orlando A.Saenz,CTP
Vice President
Wells Fargo Bank,N.A.
12650 North Featherwood Drive,Suite 210
Houston,Texas 77034
RE:City of Pearland,Texas-Depository Services Contract Extension—Delivered via email
Orlando!A:Saenz(a�wellsfargo.com
Dear Mr..Saenz:
The City of Pearland,Texas is appreciative of our current depository bank relationship with Wells Fargo
Bank,N.A. The expiration of the second of three one-year terms of the Depository Services Agreement is
September 30,2021: The City is opting to exercise the third and final one-year contract extension option
provided for in the Agreement to extend the term through September 30,2022,under the same terms and
conditions.
To confirm the Bank's acceptance of this contract extension,please complete the section below and return
a copy of this letter to me. Please note that upon your signature and acceptance,this renewal will be subject
to City Council approval—subsequent to Council approval,this office will issue a formal notice advising
you of the renewal status.
We have valued our business relationship with you and the Bank over the initial term of the current
depository contract and look forward to the extended term.
Should you have any questions or need additional information or explanation,please contact me at(281)
652-1698.
Sincerely,
Kristen.Woolley
Deputy Director of Finance
WELLS FARGO B
ACCEPTED BY: DATE: ,0/,2�.2CL?l
PRINTED NAME: D,CGI,t49O .4. :SVE TITLE: .ier:".47AsitA~ Priordtreg.
Page 1 of 1
City of Pearland
3519 Liberty Drive
Pearland, Texas 77581
Tel: 281.652.1600
pearlandtx.gov
October 13, 2021
Wells Fargo Bank, N.A.
Attn: Orlando Saenz, CTP
12650 North Featherwood Drive, Suite 210
Houston, TX 7703
Reference: City of Pearland, Texas - Depository Bank Services Contract Renewed
Dear Mr. Saenz, CTP:
Please be advised that the current contract between the City of Pearland and Wells Fargo Bank,
N.A. for Depository Bank Services has been renewed for another year, per City Council’s approval
on September 13, 2020, Resolution #R2021-207. The prices and provisions of the agreement
are stated in bid number 0517-36 and vendor’s response to the same.
DATE BID AWARDED: September 18, 2017
CONTRACT RENEWAL # 1 BEGINS: October 1, 2021
CONTRACT RENEWAL #1 ENDS: September 30, 2022
If you need any further information, please contact the Purchasing Division at (281) 652-1790.
Sincerely,
Julie Blackmore
City of Pearland
Contract Administrator