24-837
SUBJECT: Approval of a Custodial Agreement with Principal Bank to Provide Institutional Securities Custody Services for a Three (3) Years, with Two Additional One (1) Year Terms for a Total up to Five (5) Years for an Annual Amount not to Exceed $15,000 REPORT IN BRIEF Considers approving a Custodial Agreement with Principal Bank to provide Institutional Securities Custody Services for a three (3) Year, with two additional (1) year terms for a total of up to 5 years in an amount not to exceed $15,000 annually. RECOMMENDATION City Council - Adopt a motion: A. Approving a Custodial Agreement with Principal Bank to provide Institutional Securities Custody Services for three (3) Years, with two additional (1) year terms, total up to 5 years terms for an amount not to exceed $15,000 annually; and, B. Authorizing the City Manager to execute the necessary documents.
What this record is
- Held by
- Principal Bank 2 records across this site
- Amount
- $15K
- Runs until
- Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗
- Type
- contract
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Read automatically from the title of the official record. The source document below is authoritative.
Principal Bank also holds
Action on Amendments to Agreement with Principal Bank for Investment Portfolio Custody Services to the City- Committee
- City Council/Public Finance and Economic Development Authority/Parking Authority
- Introduced
- August 20, 2024
- On agenda
- September 3, 2024
- Passed
- September 3, 2024
Where it was heard
City Council/Public Finance and Economic Development Authority/Parking AuthorityWatch what Merced buys
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