HomeMy WebLinkAboutRes1998-146
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 98-146
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD,
ALASKA, AMENDING THE BANKING SERVICES CONTRACT BETWEEN
THE CITY OF SEWARD AND NATIONAL BANK OF ALASKA BY
EXTENDING THE TERMS OF THE CONTRACT TO JANUARY 3, 2000.
WHEREAS, the City's banking service contract with National Bank of Alaska (NBA)
expires on January 4, 1999; and
WHEREAS, the contract was for three years with two one year renewal options; and
WHEREAS, NBA is willing to extend the contract for another year under the same terms
of the current contract;
WHEREAS, NBA has provided good service, low compensating balance for basic services
and a high rate of return on the City's overnight investments;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SEWARD, ALASKA, that:
Section 1. Amendment 1 of the Banking Services Contract between the City of Seward and
National Bank of Alaska is approved extending the contract through January 3, 2000.
Section 2. This resolution shall take effect immediately upon its adoption.
PASSED AND APPROVED by the City Council of the city of Seward, Alaska, this 14th
day of December, 1998.
THE CITY OF SEWARD, ALASKA
4r~~
Lowell R. Satin, Mayor
CITY OF SEWARD, ALASKA
RESOLUTION NO. 98-146
AYES:
NOES:
ABSENT:
ABSTAIN:
Blatchford, Callahan, Gage, King, Orr, Satin, Shafer
None
None
None
ATTEST:
Ru'/::C,;
Patrick Reilly
City Clerk
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