Authorizing the Office of the City Treasurer, on behalf of the City, to enter into an agreement with Wachovia Bank, N.A. for provision of payroll banking services to the City, under certain terms and conditions.

THE COUNCIL OF THE CITY OF PHILADELPHIA HEREBY ORDAINS:

SECTION 1. The Office of the City Treasurer, on behalf of the City, is hereby authorized to enter into an agreement (the “Agreement”) with Wachovia Bank, N.A. (“Wachovia”), substantially in the form set forth in Exhibit A, pursuant to which Wachovia shall provide payroll banking services to the City, under certain terms and conditions.

SECTION 2. The City Solicitor shall include in said agreement such terms and conditions as she may deem necessary to protect the interests of the City.

SECTION 3. The Chief Clerk shall keep on file Exhibit A and shall make it available for inspection by the public during regular office hours.

[Note: Exhibits to this Bill are on file in the Office of the Chief Clerk.]

End

6

072674.00357/21751400v.8