Subject: Contracts For Primary Banking Depository And Custodial Services From: Finance Department Recommendation: Adopt The Following Pieces Of Legislation: 1) A Resolution (1) Authorizing The City Administrator To Negotiate And Execute An Agreement With U.S. Bank To Provide Primary Depository Services For The City At An Estimated Annual Cost Of Three Hundred Fifty Thousand Dollars ($350,000) For A Five-Year Period With Three One-Year Options To Renew Commencing January 1, 2025, And Negotiate With U.S. Bank For Such Additional Banking Services As They May From Time To Time Deem Appropriate, At Costs They Deem Reasonable; And (2) Waiving The Requirements Of The Living Wage Ordinance And Of The Linked Banking Services Program Ordinance; And

City Resolution Passed Introduced November 21, 2024

What this record is

Amount: $350K
Runs until: November 21, 2029 3 years away calculated from the contract term stated in the record
Type: contract

Read automatically from the title of the official record. The source document below is authoritative.

Committee: * Concurrent Meeting of the Oakland Redevelopment Successor Agency and the City Council
Requested by: Finance Department
Introduced: November 21, 2024
On agenda: December 17, 2024
Passed: December 17, 2024
Enacted: December 17, 2024
Enactment no.: 90572 C.M.S