BAWA Resolution No. 2021-17RESOLUTION NO.2021-17
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE BAYTOWN AREA WATER
AUTHORITY SELECTING J.P.MORGAN CHASE BANR AS THE DEPOSITORY FOR THE
BAYTOWN AREA WATER AUl HORITY;AUTHORIZING THE CITY OF BAYTOWN TO
NEGOTIATE AND ENTER INTO A DEPOSITORY SERVICES AGREEMENT WITH J.P.
MORGAN CHASE BANK ON BEHALF OF THE BAYTOWN AREA WATER AUTHORITY;
AND PROVIDING FOR THE EFFECTIVE DATE THEREOF.
WHEREAS,Section 8104.252 of the Texas Special District's Code provides that,subject to the approval
of the City Council of the City ofBaytown (the "City"), the Board of Directors oftheBaytown Area Water Authority
("BAWA")shall select one or more banks in this state to act as a depository for BAWA's money; and
WHEREAS,the City issued its request for applications for depository services on May 18,2021, and
included depository services for BAWA in such request; and
WHEREAS,notice of such request was published in accordance with law; and
WHEREAS,after careful evaluation by the Finance Department,the J.P.Morgan Chase Bank (the "Bank")
is being recommended as the financial institution to serve as the depository for both the City and BAWA; and
and
WHEREAS,the Bank has a long-standing relationship with the City and BAWA —spanning over 16 years;
WHEREAS,the BAWA Board of Directors desires to select the Bank as BAWA's depository for BAWA's
funds and authorizes the City to negotiate and enter into an agreement with the Bank for BAWA's depository
services;NOW THEREFORE,
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE BAYTOWN AREA WATER
AUTHORITY:
Section 1: That the Board of Directors of the Baytown Area Water Authority hereby selects J.P.
Morgan Chase Bank as the depository for the Baytown Area Water Authority and authorizes the City of Baytown
to negotiate and enter into aDepository Services Agreement with J.P. Morgan Chase Bank on behalf of the Baytown
Area Water Authority.
Section 2:This resolution shall take effect immediately from and after its passage by the Board of
Directors of the Baytown Area Water Authority.
INTRODUCED,READ and PASSED by the affirmative vote of the Board of Directors of the Baytown
Area Water Authoritythis the 18"'day of August,2021.
ATTEST:
GELA lACKSQN.Intenn?
APPROVED AS TO FORM:_
^
ENDA BRADLEY SMITH,President
KARENL.HORNER,General Counsel
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