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CITY OF SEWARD, ALASKA
RESOLUTION NO. 94-176
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, AUTHORIZING A ONE-YEAR EXTENSION
OF THE BANKING SERVICES AGREEMENT WITH FIRST
NATIONAL BANK OF ANCHORAGE
WHEREAS, the City's banking services agreement with First National Bank of
Anchorage expires on December 31, 1994; and
WHEREAS, the original agreement was for an initial term of three years with the option
to renew for two additional one-year terms; and
WHEREAS, if approved, this would be the first renewal option; and
WHEREAS, under the terms of the agreement, the City receives a favorable interest rate
on short term investments; and
WHEREAS, the agreement also provides for a lower non-compensatory balance than
would normally be required given today's lower interest rates;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. The City Manager is hereby authorized to execute a one-year extension to the
banking services agreement between the City and First National Bank of Anchorage.
Section 2. A copy of the agreement is attached and incorporated herein by reference.
Section 3. This resolution shall take effect immediately upon its adoption.
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 26th
day of September, 1994.
THE CITY OF SEWARD, ALASKA
~lte~. 0~
Dave W. Crane, Mayor
.
CITY OF SEWARD, ALASKA
RESOLUTION NO. 94-176
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
Anderson, Bencardino, Crane, Darling, Krasnansky, O'Brien, Sieminski
None
None
None
APPROVED AS TO FORM:
Wohlforth, Argetsinger, Johnson & Brecht,
Attorneys for the city of Seward, Alaska
~r~
City Attorney
.
.
(City Seal)
August 30, 1994
'i')
~
First National Bank
of Anchorage
Mr. Rick Gifford, Finance Director
CITY OF SEWARD
PO Box 167
Seward, AK 99664
RE: CONTRACT RENEWAL
Dear Mr. Gifford:
Thank you for the City's inquiry into extending the banking c;ervices contract between the City of
Seward and First National Bank of Anchorage.
We would be happy to extend the contract for an additional year through December 31, 1995.
All terms and conditions remain the same. We look forward to continue servicing of the City of
Seward's banking needs.
Please indicate the City's acceptance of this extension by signing in the space provided below
and returning one copy of this letter to my attention. A formal Amendment may be drafted upon
your acceptance.
If you have any questions concerning this matter or if we may be of further assistance in any
way, please contact me at 265-4740.
Sincerely,
'," 'I '
,.(~.;. C-1. '~-::Z~) \...'
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Josie Johnson
Assistant Cashier
CITY OF SEWARD
BY:
TITLE:
DATE:
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Enclosure
cc: Mark Anderson, Seward Branch Manager
646 West 4th Avenue. P.O. Box 100720 . Anchorage. Alaska 99510-0720