Ordinance No. 10,691ORDINANCE NO. 10,691
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS,
RENEWING THE BANK DEPOSITORY CONTRACT WITH JP MORGAN CHASE
BANK; AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
WHEREAS, On October 26, 2004, Bank One, Texas, NA, currently known as JP Morgan Chase
Bank, was awarded the City's Bank Depository Contract for three fiscal years, ending on September 30,2007;
and
WHEREAS, such contract included an option for the City to renew the agreement for an additional
two-year period; and
WHEREAS, JP Morgan Chase Bank has indicated its willingness to renew the contract for an
additional two-year term under the same terms and conditions; and
WHEREAS, the Administration has reviewed the market conditions and recommends renewal as
being in the best interest of the City; NOW THEREFORE
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS:
Section I: That the City Council of the City of Baytown hereby renews the Bank Depository
Contract with JP Morgan Chase Bank for an additional two years under the same terms and conditions as in
the original Bank Depository Contract approved by the City Council via Ordinance No. 9926 on October 26,
2004.
Section 2: This ordinance shall take effect immediately from and after its passage by the City
Council of the City of Baytown.
INTRODUCED, READ and PASSED by the affirmative vote of the City Council of the City of
Baytown this the 23rd day of August, 2007.
ATT
BRANDON CAPETILLO, Mayor Pro Tem
LOR
APPROVED AS T® FORM:
ACIO RAMIft£Z.*SIt:. G#Yttorney
R:\Karen\Files\CityCouncil\Ordinances\2007\August 23\RenewBankingServicesContract.doc