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

AI summary

This enacted ordinance authorizes the City Treasurer to amend the City’s agreement with Wells Fargo Bank, N.A. so Wells Fargo can continue providing payroll banking services to the City under specified terms. It also requires Wells Fargo’s updated fair lending plan and annual community reinvestment goals statement to be attached to the agreement and available for public inspection.

File details

Status
ENACTED
Introduced
May 15, 2014
Sponsors
Marian B. Tasco
View official record ↗

Full text

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 amendment agreement (the “Amendment Agreement”) with Wells Fargo Bank, N.A. (“Wells Fargo”), substantially in the form set forth in Exhibit A, pursuant to which Wells Fargo shall continue to provide payroll banking services to the City, under certain terms and conditions.

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

SECTION 3. In accordance with Section 19-201(8)(c)(ii) of The Philadelphia Code, Wells Fargo's updated fair lending plan is attached to this Ordinance as Exhibit B and Wells Fargo's annual statement of community reinvestment goals is attached to this Ordinance as Exhibit C.

SECTION 4. The Chief Clerk shall keep on file Exhibits A and B and shall make them available for inspection by the public during regular office hours.

End

File history

Sometimes city council's record keeping is not complete. This timeline reflects the information on the council's legistar website.
  1. Council actionMAYOR

    Signed

  3. Council actionCITY COUNCIL

    Ordered placed on next week`s second reading calendar

    Council actionCITY COUNCIL

    Ordered placed on this day`s first reading calendar

    Council actionCITY COUNCIL

    Suspend the rules of the council

    Pass
  4. Council actionCommittee on Finance

    Reported favorably, rule suspension requested

    Council actionCommittee on Finance

    Amended

    Council actionCommittee on Finance

    Hearing held

    Council actionCommittee on Finance

    Hearing notices sent

  5. Council actionCITY COUNCIL

    Introduced (By Request) and Referred

    Pass