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THE CITY OF}} n <br /> CITY COUNCIL AGENDA REPORT <br /> pLEAS4NTONo <br /> March 1, 2016 <br /> Finance <br /> TITLE: APPROVE AN AGREEMENT WITH BAY COMMERCIAL BANK FOR A <br /> DEPOSITORY ACCOUNT FOR THE PLAY BERNAL DONATIONS <br /> SUMMARY <br /> The City recently transferred most of its banking services from Bank of America to JP <br /> Morgan Chase. Subsequent to approving the transfer of banking services the City was <br /> approached by Bay Commercial Bank to provide banking services for the Bernal <br /> Community Park, Phase II Fundraising Campaign. This will entail opening an account <br /> for the purpose of depositing online donations received for the Play Bernal Fundraising. <br /> Staff is recommending opening an account with Bay Commercial Bank. Bay <br /> Commercial Bank is a smaller local bank that the City would like to support. <br /> RECOMMENDATION <br /> Authorize the City Manager to execute an agreement with Bay Commercial Bank. <br /> Approve the Account Agreement with Bay Commercial Bank for a Money Market <br /> Account for donations received for the Bernal Community Park, Phase II Fundraising <br /> Campaign. <br /> FINANCIAL STATEMENT <br /> No additional fees will be incurred by the City. <br />