CITY OF EL PASO, TEXAS
LEGISTAR AGENDA ITEM SUMMARY FORM
DISTRICT, DEPARTMENT, CONTACT INFORMATION:
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Details
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Purchasing and Strategic Sourcing, K. Nicole Cote, (915) 212-1092
Office of the Comptroller, Margarita M. Marin, (915) 212-1174
End
AGENDA LANGUAGE:
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Title
The linkage to the Strategic Plan is Subsection: 6.6 Ensure continued financial stability and accountability through sound financial management, budgeting, and reporting.
Award Summary:
The award of solicitation 2024-0028R Depository Services to Wells Fargo Bank, N.A., for a five (5) year term for an estimated amount of $1,400,000.00. The contract will allow for the processing of depository, investment, and banking services for the City of El Paso.
Contract Variance:
No contract variance, replacement contract.
Department:
Office of the Comptroller
Award to:
Wells Fargo Bank
City & State:
Houston, TX
Item(s):
All
Initial Term:
5 Years
Option Term:
N/A
Total Contract Time:
5 Years
Annual Estimated Award:
N/A
Initial Term Estimated Award:
$1,400,000.00
Option Term Estimated Award:
N/A
Total Estimated Award
$1,400,000.00
Account(s)
N/A
Funding Source(s):
Earnings credit on available demand deposit
balances and Investment earnings on excess
cash balances
District(s):
All
This was a Request for Proposals Procurement - service contract.
The Purchasing & Strategic Sourcing Department and the Office of the Comptroller departments recommend award as indicated to Wells Fargo Bank, N.A. the sole offeror based on the evaluation factors established in the evaluation criteria for this procurement. Additionally, it is requested that the City Attorney's Office review and that the City Manager or designee be authorized to execute any related contract documents an...
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