Resolution 03-012 Designating Depository Bank CITY OF SPOKANE VALLEY
SPOKANE COUNTY, WASHINGTON
RESOLUTION NO. 03-012
A RESOLUTION OF THE CITY OF SPOKANE VALLEY, SPOKANE COUNTY,
WASHINGTON, DESIGNATING THE OFFICIAL DEPOSITORY BANK FOR THE
CITY OF SPOKANE VALLEY
WHEREAS, the City of Spokane Valley City Council on November 26, 2002 approved a
request for banking services from qualified public depositories pursuant to RCW Chapter 39.58;
WHEREAS, qualified public depositories that were interested in providing banking
services to the City were required to submit bid information including cost of services, ability to
provide the services, financial condition of the institution and the general resources and services
available to the City;
WHEREAS, all proposals were to be submitted to the City by December 18, 2002 at the
City offices with the City thereafter awarding a contract for the banking services; and
WHEREAS, the City has received proposals for banking services from qualified public
depositories and is desirous of selecting one of the respondents to provide banking services to the
City.
NOW, THEREFORE, be it Resolved by the City Council of the City of Spokane Valley,
Spokane County, Washington, as follows:
1. Depository Bank Designated.
The City Council hereby designates Farmers & Merchants Bank, with offices at
North 25 Mullan Road as the qualified public depository to provide banking and financial
services to the City pursuant to RCW Chapter 39.58. The Interim City Manager is authorized to
enter into a contract consistent with the request for banking services, response to request for
banking services and such other matters as deemed appropriate and necessary by the parties. The
initial contract term shall be from the date of the agreement through December 31, 2003 and may
be extended by mutual agreement upon reasonable terms approved by the Finance Committee.
2. Effective Date.
This Resolution shall be in full force and effect on March 31, 2003, provided that
the terms of this resolution shall also be in effect during the interim period.
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Bern iI attachments\Resolution03-012,bank dcpos itory.doc
Adopted this /"lay of January; 2003.
City of Spokane Valley lla
Mayor Michael De\'leming
ATTEST:
Interim CI Clerk, Ruth Muller
Approved as to Form:
- 1 City o ey, Stanle M. Schwartz
1'_icmail attaclunents\Resolution03-012,bank dcpository.doc 2