Title
Approving a resolution with the caption reading: RESOLUTION OF THE CITY OF PFLUGERVILLE, TEXAS AUTHORIZING THE CITY MANAGER TO EXTEND THE CONTRACT FOR BANKING SERVICES.
Summary
The end of this fiscal year will complete the fourth year of the City's contract with First Texas Bank for the City's banking services. The original contract with First Texas Bank was a three-year agreement, including provisions to extend the contract for two additional one-year terms. In 2015, the City Council authorized the City Manager to execute the first one-year extension. This resolution would allow the City Manager to execute the second, and final, one-year term extension on this agreement, which will end on September 30, 2017. Finance staff will be working on requests for proposal for banking services early in 2017 for banking services beginning October 1, 2017. The City Attorney has reviewed this resolution.
Fiscal Impact
There is no fiscal impact as a result of this action.
Staff Recommendation
Staff recommends approval of this item.
Drafter
Lauri Gillam
Assistant City Manager