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<br /> <br /> City Council Agenda Item Cover Sheet <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />Project title: Authorize Mayor to sign an Agreement for Banking Services with U.S. Bank <br />Council Bill # interoffice use <br /> <br />Project: Banking Services <br />Partner/Supplier: U.S. Bank Corp <br /> Location: <br />Preceding action: <br />Fund: All Funds <br />Agenda dates requested: <br /> <br />Briefing <br />Proposed action <br />Consent 3/20/24 <br />Action <br />Ordinance <br />Public hearing <br /> Yes X No <br /> <br />Budget amendment: <br /> Yes X No <br /> <br />PowerPoint presentation: <br /> Yes X No <br /> <br />Attachments: Agreement <br /> <br /> <br />Department(s) involved: <br />Finance, Legal <br /> <br /> <br />Contact person: Susy Haugen <br /> <br /> <br />Phone number: x8612 <br /> <br /> <br />Email: <br />shaugen@everettwa.gov <br /> <br />Initialed by: <br />sh <br />Department head <br /> <br />Administration <br /> <br />Council President <br />Fiscal summary statement: <br />The renewal pricing offered by U.S. Bank is consistent overall with current pricing. There will be <br />no material financial impact from this contract extension. <br /> <br />Project summary statement: <br />The City began banking with U.S. Bank Corp in 2016. Over that time, U.S. Bank has provided <br />excellent service that has been of great value to the City. The existing agreement has come to <br />the end of its term. <br />The term of this Agreement begins on January 1, 2024, and ends on December 31, 2029, with <br />options to extend for two additional two-year terms. <br /> <br />Recommendation (exact action requested of Council): <br />Authorize Mayor to sign the Agreement for Banking Services with U.S. Bank. <br />