City of Gainesville - File #: 990998

• File #: 990998
• Version: 0
• Name: Extension of Contract for Custodian Bank Services with State Street Bank (B)
• Type: Discussion Item
• Status: Passed
• File created: 1/24/2000
• In control: City Manager
• Final action: 1/24/2000
• Title: Extension of City of Gainesville General Employees' Pension Plan Contract for Custodian Bank Services with State Street Bank. (B)

Date	Ver.	Action By	Action	Result
1/24/2000	0	City Commission	Approved as Recommended	Pass

Title

Extension of City of Gainesville General Employees' Pension Plan Contract for Custodian Bank Services with State Street Bank. (B)

Explanation

State Street Bank has provided custodian bank services for the City of Gainesville General Employees' Pension Plan since March 2, 1992.  The term of the original contract was five (5) years, with an expiration date of March 1, 1997.  The original contract allows for the extension of the contract by mutual agreement of State Street Bank and the City of Gainesville.  State Street Bank is agreeable to a second three (3) year extension of the contract under existing terms.

Fiscal Note

Funds for custodian bank services are budgeted in the General Employees' Pension plan trust fund.

Recommendation

The General Employees' Pension Plan  Board of Trustees approve the three (3) year extension to the State Street Bank custodian services contract, and authorize the Trust Administrator to execute the requisite amendment subject to the approval of the City Attorney as to form and legality.