pages: SpecialFinanceAndManagementCommittee/2013-12-03.pdf, 4
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SpecialFinanceAndManagementCommittee | 2013-12-03 | *Special Finance & Management Meeting Minutes December 3, 2013 Committee 8 Subject: Contracts For Banking And Custodial Services From: Office Of The City Administrator Recommendation: The Following Pieces Of Legislation: 1) A Resolution Authorizing The City Administrator To: (1) Negotiate And Execute An Agreement With J.P. Morgan Chase, N.A. To Provide Primary Depository Services For The City At An Estimated Annual Cost Amount Of $275,000 For A Three-Year Period With Two One-Year Options To Renew, And (2) Negotiate With J.P. Morgan Chase, N.A. For Such Additional Banking Services As She May From Time To Time Deem Appropriate, At Costs She Deems Reasonable; And Waiving The Requirements Of The Living Wage Ordinance; And 13-0202 A motion was made by Chair Schaaf, seconded by Pro Tempore Kaplan, that this matter be Approve the Recommendation of Staff, and Forward to the Meeting of the Oakland City Council, due back on December 10, 2013 as a Non-Consent item. The motion carried by the following vote: Votes: Councilmember Aye: Pro Tempore Kaplan, Member Brooks, Council President Kernighan and Chair Schaaf The Committee approved recommendations as amended to allow the full Council to approve either Wells Fargo or J.P. Morgan Chase for the agreement. The Committee also directed staff to provide a supplemental report regarding the following: 1) Additional information about J.P. Morgan Chase and their presence in Oakland, their foreclosure history within Oakland, and how they reinvest in the community; and 2) Whether Wells Fargo will provide assurances for enhanced customer service if `selected for the agreement. View Report.pdf View Supplemental Report.pdf 84764 CMS.pdf City of Oakland Page 4 Printed on 1/3/14 | 4 | SpecialFinanceAndManagementCommittee/2013-12-03.pdf |