RES 1669 04/09/2024"City of Choice
RESOLUTION NO. 1669
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CIBOLO,
GUADALUPE COUNTY, TEXAS, AWARDING THE CITY'S BANK
DEPOSITORY SERVICES CONTRACT; AUTHORIZING THE CITY
MANAGER, OR DESIGNEE, TO EXECUTE ALL AGREEMENTS
NECESSARY TO IMPLEMENT THE CONTRACT; AND PROVIDING
FOR AN EFFECTIVE DATE.
WHEREAS, the City of Cibolo, Texas, is a Home Rule Municipality located in Guadalupe
County, Texas, created in accordance with the provisions of the Texas Local Government Code
and operating pursuant to its adopted City Charter and all applicable laws and enabling legislation
of the State of Texas; and
WHEREAS, Chapter 105 of the Texas Local Government Code limits the term of a bank
depository contract to five years; and
WHEREAS, the current bank depository services agreement with Schertz Bank & Trust expires
on June 30, 2024, with no option for renewal; and
WHEREAS, staff has advertised for, solicited by Request for Applications, and received three
applications for Bank Depository Services; and
WHEREAS, staff has reviewed the submitted applications and determined that, based on the
evaluation criteria, Schertz Bank & Trust's application represents the "most advantageous" terms
to the City.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
CIBOLO, TEXAS:
Section 1. That the City Council hereby awards the contract for the City's Bank Depository
Services to Schertz Bank & Trust for the three-year period of July 1, 2024 through June 30, 2027,
with the option of the City to extend for two additional one-year periods.
Section 2. That the City Manager, or designee, is hereby authorized to execute all necessary
documents and agreements to finalize this award.
Section 3. That this resolution shall become effective from and after its adoption and it is so
ordered.
PASSED AND APPROVED AND ADOPTED 9" day of April, 2024.
Mayor
ATTEST ^
Peggy Cimics, TRMC
City Secretary
APPROVED AS TO LEGAL FORM:
A� �7
George Hde
City Attorney