HomeMy WebLinkAboutMO # 1491MUNICIPAL ORDER NO. 1491
A MUNICIPAL ORDER TO AUTHORIZE THE FINANCE DIRECTOR
TO ESTABLISH BANK ACCOUNTS WITH INDEPENDENCE BANK UNDER THE
TERMS DESCRIBED IN THE PROPOSAL RECEIVED ON NOVEMBER 16, 2009
WHEREAS, the City has been operating under a negotiated banking
services agreement with a local bank since 1997; and
WHEREAS, changes in technology and the needs of the City have
required the need to request proposals for updated services; and
WHEREAS, Independence Bank, in its proposal was the only bank to
offer local lock box services, was the only bank to provide all banking services at no cost,
and proposed the highest interest rate floor.
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. That the City of Paducah hereby authorizes the Finance
Director to establish bank accounts with Independence Bank under the terms described in
the proposal received on November 16, 2009.
SECTION 2. This ordinance shall be read on two separate days and will
become effective upon summary publication pursuant to KRS Chapter 424.
jATTEST: AAVCk
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Tammara S. Brock, City Clerk
Adopted by the Board of Commissioners, November 24, 2009
Recorded by Tammara S. Brock, City Clerk, November 24, 2009
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