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O-2010-3292 banking service agreement with Amegy Bank for (5) year term beginning November 1, 2010
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O-2010-3292 banking service agreement with Amegy Bank for (5) year term beginning November 1, 2010
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11/2/2016 3:39:30 PM
Creation date
11/10/2010 3:09:01 PM
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Legislative Records
Legislative Type
Ordinance
Date
10/25/2010
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<br />8. Information Services: The City desires balance reporting for daily access of <br />its bank accounts to obtain balance information. The most desirable access <br />would be online access. The information desired would be ledger balance <br />collected balance one day float amount, two day float amount, total credits, total <br />debits and detail debits and credits. This information should be available each <br />morning by 10:00 a. m. Please describe the bank's online service capabilities, <br />the options available, any hardware or software requirements and the pricing. <br /> <br />Amegy Bank's electronic banking system, AmcgyConnect, allows users to access <br />the City's financial data, banking information, payment solutions, and specialized <br />reports. AmegyConnect is a secure, 24/7 accessible web based application that is <br />built to fit the City's needs. <br /> <br />AmcgyConnect has a Client Self Administration module. Administrators have the <br />ability to add new users, assign users access and security privileges, change liseI' <br />permissions or remove users without having to send anything to the bank. <br />Summary level Same Day and Previous Day information is available by 8:00 am <br />CST to view. The ability to view detail information about items is available. <br />Additional details on transactions such as ACH and Wire Transfers caIl also be <br />viewed. Previous Day information is available to view for 180 days, while Same <br />Day detail is retained for 90 days. Users can view loan information such as rate, <br />amount, and maturity date. <br /> <br />9. Data Summary: Estimates of Activity are found in Item A of the Quotation <br />Form. <br /> <br />B. PAYROLL ZERO BALANCE ACCOUNT <br />1. Use of Account: The City of La Porte requires a zero balance checking <br />account from which all biweekly City payroll checks will be written. <br /> <br />2. Monthly Statement: The City requires that monthly statements provide <br />beginning and ending balances as well as all transactions that occurred during <br />the reporting period. The City would prefer that these statements be available <br />in electronic format. <br /> <br />Amegy Bank provides monthly statement online through AmegyConncct. <br />Statements are available online for 18 months. <br /> <br />3. Stop Payments: The City will require the Bank to issue stop payments initiated <br />either online or upon telephone communication from authorized City personnel. <br />The City will provide written confirmation of the telephone or online transaction <br />and will require written confirmation of the stop payment from the Bank. <br /> <br />Agree. <br /> <br />C. OTHER REQUIRED SERVICES <br /> <br />17 <br />
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