HomeMy WebLinkAboutR-96-0558I
J-96-654
7/17/96
RESOLUTION NOO 6 -- 558
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE AN AGREEMENT, IN A FORM ACCEPTABLE TO
THE CITY ATTORNEY, WITH THE REPUBLIC NATIONAL
BANK LOCATED IN THE OVERTOWN AREA, MIAMI,
FLORIDA, FOR THE ESTABLISHMENT OF A SPECIAL
DEPOSITORY BANK ACCOUNT, SAID AGREEMENT TO BE
FOR A PERIOD OF ONE YEAR, WITH THE OPTION TO
RENEW FOR TWO ADDITIONAL ONE-YEAR PERIODS, AT
THE SAME TERMS AND CONDITIONS.
WHEREAS, the City wishes to participate in a program which
will support and encourage business in the Overtown area; and
WHEREAS, a bank account will be established with Republic
National Bank in the Overtown area, Miami, Florida, to receive
monies for five days each month; and
WHEREAS, said monies will be available from the Half -Cent
Sales Tax Revenues for deposit into said bank account; and
WHEREAS, it is necessary to enter into an agreement with the
Republic National Bank for establishment of said special
depository bank account;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Resolution are hereby adopted by reference
thereto and incorporated herein as if fully set forth in this
Section.
CITY COMMON
MEETING OF
JUL 2 6 1996
&esolutiori, No:
j Section 2. The City Manager is hereby authorized!/ t
execute an agreement, in a form acceptable to the City Attorne;
with the Republic National Bank located in the Overtown arez
Miami, Florida, for the establishment of a special deposit03
bank account, said agreement to be for a period of one year, wit
the option to renew for two additional one-year periods, at tY
i same terms and conditions.
Section 3. This Resolution shall become effecti-,
immediately upon its adoption.
PASSED AND ADOPTED this 25th day of July 199E
G
JO ARO LO, MAYOR
ATTEST:
WALTER J.(__FOEMA
CITY CLERK
APPROVED AS TO FORM AND CORRECTNESS:
I
j A ,/ ` TT , I
CITYATTORNT1Y
W996:BSS
i� The herein authorization is further subject to complian
with all requirements that may be imposed by the Ci
Attorney, including but not limited to those prescribed
applicable City Charter and Code provisions.
- 2 -
96—
SENT BY: 7-17-96 ;10:10A31 DEPT, OF FINANCE 3058581707;# 5/ 5
1O ' I'lonorahle Mayor and Members
of the City Commission
rnonn
CosaVr
City
C
�.f'()MVIRNDATION:
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
nATr- : 17 1996
surur.L I
Agenda. Item
ENCLOSLINES
FILE
it is respectfully recommended that the City Commission approve the attached resolution
authorizirL,y the City Manager to execute an agrcctnem. in a form acceptable to the Cite Attorney,
with the Republic National Bank in the Overtown area for a period of one year with the option
to renew for two additional one year periods, upon the same terms and conditions, commencing
in September 1996, for a special depository bank account.
BACKGRO D:
Republic National .Bank made a commitment to open at branch in the Overtown area, and the City
offered to open an account and deposit a certain amount of monies. ll is recommended that the
City deposit monthly for a period of five Or, thf: Hall -Cent Sales Tax Revenue received from
the State of Florida into said bank account.
g6_ 558