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Home My WebLink About931311.tiff RESOLUTION RE: RATIFY MASTER AGREEMENT WITH BANK ONE GREELEY, NA, CASH MANAGEMENT SERVICES WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to Colorado statute and the Weld County Home Rule Charter, is vested with the authority of administering the affairs of Weld County, Colorado, and WHEREAS, the Board has been presented with a Master Agreement between Bank One Greeley, NA, Cash Management Services, and Weld County, with terms and conditions being as stated in said agreement, and WHEREAS, after review, the Board deems it advisable to ratify said agreement, a copy of which is attached hereto and incorporated herein by reference. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Master Agreement between Bank One Greeley, NA, Cash Management Services, and Weld County be, and hereby is, ratified. The above and foregoing Resolution was, on motion duly made and seconded, adopted by thALe following vote on the 29th day of December, A.D. , 1993. i // �J BOARD OF COUNTY COMMISSIONERS ATTEST: {/ G WELD COUNTY, COLORADO 1444 /Vfr&'a 7? Weld County Clerk to the Board EXCUSED Constance L. Harbert, Chairman BY: (2/X� fAV�Mq ABSTAINED Deputy Cler to the Board W. H. W bster, Pro m APPROVED S TO FORM: i2i A eorge Baxter Co n o ney Dale K H Idt 4 Barbara J. Kirkmey 931311 BANK ONE, GREELEY, NA CASH MANAGEMENT SERVICES MASTER AGREEMENT This is the Master Agreement between WELD COUNTY ( from now on "Customer" or "You" ) and Bank One, Greeley, NA, ( from now on "Bank" or "We " ) , dated !a-/a9/9.a , by which the Bank will provide various Cash Management Services which the Customer will use. Customer is responsible for appointing officials who will be authorized by Customer to initiate instructions with Bank. When the Bank receives a written communication from an official so authorized , we will act and rely on this communication that the instruction is approved by Customer ' s Board of Directors . The officials will also be responsible for issuing, modifying and maintaining passwords, identification numbers and codes when required. We are responsible for the willful misconduct or gross negligence of our employees and duly authorized agents in providing Cash Management Services . We are not responsible for acts or omissions of third parties. We are not liable for any indirect, incidental consequential or special damages , nor for other losses outside our direct control . Fees will be those agreed upon from time to time and do not include any taxes which are solely Customer ' s responsibility. Customer may cancel this Agreement by giving us written notice 30 days in advance. After the notice period, customer will not be billed for services terminated. Because of the nature of Cash Management, we must reserve the right to modify or terminate a particular service without notice. We will give you reasonable notice where it is possible. If necessary , this agreement and services provided may be delegated to any subsidiary or parent of the Bank provided this does not materially affect Customer. This Master Agreement, product description , and pricing schedule is our entire Agreement with respect to Cash Management Services and supersedes any prior or contemporaneous oral or written agreements . This entire Agreement will be interpreted under Colorado Law and the applicable laws and rules or any facility or intermediary through which any service is provided . 931311 BANK ONE, GREELEY, N.A. CASH MANAGEMENT BETWEEN WELD COUNTY Bank One, Greeley, N.A. , agrees to manage funds as outlined in this agreement . Weld County authorizes Bank One, Greeley, to wire transfer dollars, upon request without prior notice to Weld County and hold Bank One, Greeley, harmless for any errors or omissions that might occur in the administration of this Cash Management Service . AGREEMENT 1 . Bank One, Greeley, N.A. will establish accounts as per instructions by Weld County. 2 . The main account no. 1124024405 will be the depository account and is the account established to handle the daily operations . The main account is set up as an Interest Bearing Account . 3 . The Warrant Clearing Account no. 1124024298 will be maintained as a Zero Balance Account (ZBA) and will have a daily statement and items fine sorted. 4 . The Social Services Warrant Clearing account no . 1124024256 will be maintained as a Zero Balance Account (ZBA) . This account will be set up to fine sort the items and will be an Account Reconciliation Program (ARP) account with a daily tape and statements provided to Weld County. 5 . The Payroll Clearing account no . 1124024264 will be maintained as a Zero Balance Account (ZBA) . The items will be fine sorted and a daily statement and ARP will be provided to Weld County. Weld County will deliver the payroll tape to the Bookkeeping area four days prior to payroll posting. Bank One, Greeley, N.A. , will issue a bank check to Weld County for any Automated Clearing House (ACH) payroll rejects upon notification of the deposit reject . The check will be forwarded to Weld County' s Accounting Department . Weld County will assume responsibility for any losses incurred by Bank One, Greeley, N.A. for early payment of payroll rejects . 6 . The Accounts Payable/General account no. 1124024280 will be maintained as a Zero Balance Account (ZBA) . The items will be fine sorted with a daily statement and ARP tape provided. 931:11 Weld County Page 2 7 . The following accounts are set up as Zero Balance Accounts (ZBA) and dollars will sweep from the main account to cover items presented for payment daily. From #1124024405 to #1124024298 Warrant Clearing Acct From #1124024405 to #1124024256 Social Services From #1124024405 to #1124024264 Payroll Clearing Acct From #1124024405 to #1124024280 Accts Payable/Gen Acct 8 . A Return Items Account no. 1126007358 has been established for all return checks to be charged against . Weld County will deposit into the account as needed to cover the checks that are returned. Each check will be ran twice and then returned to Weld County if it has not cleared by the second presentment . 9 . The Revolving Account no . 1124024447 will receive a weekly snapshot statement . 10 . The Weld County Department of Social Services has established an Interest Bearing Account : Weld County Department of Social Services Imprest Fund Account - 1126007366 An account in the name of Riley and Josephine Dieterle, C/O Judy Griego, has also been established through the Weld County Department of Social Services . 11 . An account for the Human Resources Senior Nutrition Program, account no. 1126006228, is being maintained as an Interest Bearing Account . A daily log sheet will be completed with the bag numbers and date received for deposits . Daily deposits are made from the various sites by specified drivers of the Senior Program. The bag (s) will be counted with the driver in attendance . Any corrections will be completed on the Senior Nutrition Correction form and sent back with the driver in the bag. Procedure for 1994 : Senior Nutrition will have the bag (s) delivered daily by their driver to Bank One, Greeley. The Teller will count the contents of the bag (s) in the presence of the driver. If there is a correction, the Senior Nutrition Correction Form will be completed by the banker and signed by both the banker and the driver. The banker will staple a copy of the Bank One, Greeley bank form (advice debit/credit) to the Senior Nutrition Correction Form and place in the bag. The driver will return the forms to the Senior Nutrition Program Office . 921311 Weld County Page 3 Annually (before December 31st) the entire account balance will be transferred to the main account number 1124024405 and a receipt will be forwarded to the Treasurer' s office . Bank One, Greeley, NA will provide Weld County with a breakdown of the principal and interest . Rhonda Dornburg will call Bank One, Greeley when the transfer is to be made . 12 . Upon notification from Deposit Services, Bank One will notify the Treasurer' s office of all encoding errors . For encoding errors under $1 . 00 , Bank One, Greeley will credit the account and send a copy of the credit . For encoding errors over $1 . 00, a check will be sent to the Weld County Treasurer. 13 . Stoo Payments The form will be sent to the Treasurer' s office for signature and returned to Bank One, Greeley. If the Stop Payment form has not been signed and returned within fourteen (14) days, the Stop Pay order will be deleted. The following Weld County employees are authorized to request Stop Payments on the following accounts : Accounts Payable 1124024280 Teresa Landry Payroll 1124024264 JoAnn Park Carol Mitchell Social Services 1124024256 Vivian Eiker Kendra Fritzler Treasurer' s Account 1124024405 Jewell Vaughn Angie Grant Leslie Cobb Weld County will provide an updated authorized list whenever necessary. 14 . If an item is missing from any of the daily or monthly statements, a form will be included in the statement stating the information from the missing item(s) . A copy of the item will be ordered for delivery within approximately two (2) days . 15 . A letter was sent out to Weld County employees on the Bank One checking accounts . Weld County will provide a current list of employees semi-annually. 16 . Weld County employees may purchase Payroll Savings Bonds through Bank One . 'i21 Weld County Page 4 17 . Weld County will receive and initiate Wire Transfers . Agreements are maintained with authorized personnel in the Wire Department of Bank One, Greeley. 18 . State withholding EFT debits will be handled and processed for Weld County through the Wire Department . 19 . Bank One, Greeley, N.A. will make available our filmer to Weld County for any and all filming of "Cash" used on special investigation cases by the Sheriff' s Office or Greeley City Police . Bank One, Greeley will have available funds needed for the investigation upon prior notice . 20 . The following accounts will be set up on account analysis billing: Main 112 402 4405 Warrant Clearing 112 402 4298 Social Services Warrant Clearing 112 402 4256 Payroll Clearing 112 402 4264 Account Payable/General Account 112 402 4280 Revolving 112 402 4447 Return Items 112 600 7358 A separate account analysis billing will be set up for the following account : Social Services Imprest Fund 112 600 7366 21 . Northern Armored Service (NAS) will be the courier between Weld County and Bank One, Greeley. NAS will deliver to Weld County in the morning and deliver deposits to Bank One in the afternoon. 22 . Safekeeping Agreement Bank One, Greeley undertakes to accept Securities for the Customer' s Safekeeping account according to the Customer' s written instructions . A safekeeping receipt will be issued by Bank One for Securities accepted for the Customer' s account . Interest payments will be made by check to the Weld County Treasurer upon receipt from the Federal Reserve . 921311 Weld County Page 5 The payment schedule until maturity of each note is as follows : U S Treasury Note : 7 3/4 Note J 95 Schedule/Amount CUSIP 912827YG1 02/15 $8873 . 75 PRINCIPAL $229, 000 . 00 08/25 MATURITY February 15, 1995 U S Treasury Note : 7 1/4 Note D 96 Schedule/Amount CUSIP 912827UF7 05/15 $21, 568 . 75 PRINCIPAL $595, 000 . 00 11/15 MATURITY November 15, 1996 22 . (a) . Bank One will not be held liable for any loss or damage to Securities in the Safekeeping account , unless the loss or damage is due to Bank One' s failure to exercise reasonable care . The Bank will not be held liable for the negligence, errors or omissions of its agents unless it fails to exercise reasonable care in the selection of such agents . In no event shall the Bank be liable for loss or damage to the Securities after their withdrawal from the Safekeeping account . 23 . If Repurchase Account interest rates increase, Weld County Treasurer has the option to notify Bank One, Greeley to open a new Repurchase Account for investments . Upon notification, Bank One, Greeley will process a new account for investment purposes, thus providing the highest interest rate possible for Weld County Treasurer' s investments . If an account is opened as a Repurchase Account, Weld County Treasurer has the option to close the account at any time. 24 . Telephone transfers are authorized by Jewell Vaughn or Phyllis Batt . 921311 Weld County Page 6 25 . Service fees for Weld County are as follows : Account Maintenance Fee $ 5 . 00 / per account Item Deposited $ . 05 / per item Credits $ . 05 / per item Debits $ . 05 / per item Warrants $ . 05 / per item RAMCHA $ . 05 / per item Fine Sort $ . 02 / per item ARP Tape $25 . 00 / per tape Paid Item Listing $ . 05 / per item Wire Services : Incoming $ 5 . 00 / per wire Outgoing $ 5 . 00 / per wire Daily Courier Services $ 2 . 50 / per day Return Items No Charge Stop Payments No Charge Non-Sufficient Funds Checks No Charge Account Analysis $15 . 00 / per month 901311 Weld County Page 7 Weld County CUSTOMER BANK ONE, GREELEY r 1 SIGNATURE J SIGNATURE Francis M. Loustalet PRINT NAME PRINT NAME Weld County Treasurer TITLE TITLE December 28, 1993- DATE DATE 921311 Summary of Special Account Handling • Accounts with daily statements and fine sort : Main Account 112 402 4405 Warrant Clearing 112 402 4298 • Accounts set up with daily ARP and fine sort : Social Services Warrant Clearing 112 402 4256 Accounts Payable/General Account 112 402 4280 Payroll Clearing 112 402 4264 • Accounts set up with weekly Snapshot Statement : Revolving Account 112 402 4447 921311 BANK ONE, GREELEY, N.A. CASH MANAGEMENT BETWEEN WELD COUNTY Bank One, Greeley, N.A. , agrees to manage funds as outlined in this agreement . Weld County authorizes Bank One, Greeley, to wire transfer dollars, upon request without prior notice to Weld County and hold Bank One, Greeley, harmless for any errors or omissions that might occur in the administration of this Cash Management Service . AGREEMENT 1 . Bank One, Greeley, N.A. will establish accounts as per instructions by Weld County. 2 . The main account no. 1124024405 will be the depository account and is the account established to handle the daily operations . The main account is set up as an Interest Bearing Account . 3 . The Warrant Clearing Account no . 1124024298 will be maintained as a Zero Balance Account (ZBA) and will have a daily statement and items fine sorted. 4 . The Social Services Warrant Clearing account no . 1124024256 will be maintained as a Zero Balance Account (ZBA) . This account will be set up to fine sort the items and will be an Account Reconciliation Program (ARP) account with a daily tape and statements provided to Weld County. 5 . The Payroll Clearing account no . 1124024264 will be maintained as a Zero Balance Account (ZBA) . The items will be fine sorted and a daily statement and ARP will be provided to Weld County. Weld County will deliver the payroll tape to the Bookkeeping area four days prior to payroll posting. Bank One, Greeley, N.A. , will issue a bank check to Weld County for any Automated Clearing House (ACH) payroll rejects upon notification of the deposit reject . The check will be forwarded to Weld County' s Accounting Department . Weld County will assume responsibility for any losses incurred by Bank One, Greeley, N.A. for early payment of payroll rejects . 9z131t Weld County • Page 2 6 . The Accounts Payable/General account no . 1124024280 will be maintained as a Zero Balance Account (ZBA) . The items will be fine sorted with a daily statement and ARP tape provided. 7 . The following accounts are set up as Zero Balance Accounts (ZBA) and dollars will sweep from the main account to cover items presented for payment daily. From #1124024405 to #1124024298 Warrant Clearing Acct From #1124024405 to #1124024256 Social Services From #1124024405 to #1124024264 Payroll Clearing Acct From #1124024405 to #1124024280 Accts Payable/Gen Acct 8 . A Return Items Account no . 1126007358 has been established for all return checks to be charged against . Weld County will deposit into the account as needed to cover the checks that are returned. Each check will be ran twice and then returned to Weld County if it has not cleared by the second presentment . 9 . The Revolving Account no . 1124024447 will receive a weekly snapshot statement . 10 . The Weld County Department of Social Services has established an Interest Bearing Account : Weld County Department of Social Services Imprest Fund Account - 1126007366 An account in the name of Riley and Josephine Dieterle, C/O Judy Griego, has also been established through the Weld County Department of Social Services . 11 . An account for the Human Resources Senior Nutrition Program, account no . 1126006228 , is being maintained as an Interest Bearing Account . A daily log sheet will be completed with the bag numbers and date received for deposits . Daily deposits are made from the various sites by specified drivers of the Senior Program. All deposit corrections will be called to one of the following employees : Bev Reid 353 -3816 , ext 3321 Dorothy Escamilla 353-3816 , ext 3322 Barb Burns 353-3816, ext 3322 921311 Weld County Page 3 Semi-annually (June 30th and December 31st) the interest earned will be transferred to the main account no. 1124024405 and a receipt will be forwarded to the Treasurer' s office . Barbara Burns will contact Bank One , Greeley, on the first of January and the first of July with the amount of interest to be transferred. 12 . Upon notification from Deposit Services, Bank One will notify the Treasurer' s office of all encoding errors . For encoding errors under $1 . 00 , Bank One, Greeley will credit the account and send a copy of the credit . For encoding errors over $1 . 00 , a check will be sent to the Weld County Treasurer . 13 . Stop Payments The form will be sent to the Treasurer' s office for signature and returned to Bank Cne, Greeley. If the Stop Payment form has not been signed and returned within fourteen (14) days, the Stop Pay order will be deleted. The following Weld County employees are authorized to request Stop Payments on the following accounts : Accounts Payable 1124024280 Teresa Landry Payroll 1124024264 JoAnn Park Carol Mitchell Social Services 1124024256 Vivian Eiker Kendra Fritzler Treasurer' s Account 1124024405 Jewell Vaughn Angie Grant Leslie Cobb Weld County will provide an updated authorized list whenever necessary. 14 . If an item is missing from any of the daily or monthly statements, a form will be included in the statement stating the information from the missing item (s) . A copy of the item will be ordered for delivery within approximately two (2) days . 15 . A letter was sent out to Weld County employees on the Bank One checking accounts . Weld County will provide a current list of employees semi-annually. 16 . Weld County employees may purchase Payroll Savings Bonds through Bank One . 9 13ii Weld County Page 4 17 . Weld County will receive and initiate Wire Transfers . Agreements are maintained with authorized personnel in the Wire Department of Bank One, Greeley. 18 . State withholding EFT debits will be handled and processed for Weld County through the Wire Department . 19 . Bank One, Greeley, N.A. will make available our filmer to Weld County for any and all filming of "Cash" used on special investigation cases by the Sheriff ' s Office or Greeley City Police . Bank One, Greeley will have available funds needed for the investigation upon prior notice . 20 . The following accounts will be set up on account analysis billing : Main 112 402 4405 Warrant Clearing 112 402 4298 Social Services Warrant Clearing 112 402 4256 Payroll Clearing 112 402 4264 Account Payable/General Account 112 402 4280 Revolving 112 402 4447 Return Items 112 600 7358 A separate account analysis billing will be set up for the following account : Social Services Imprest Fund 112 600 7366 21 . Northern Armored Service (NAS) will be the courier between Weld County and Bank One, Greeley. NAS will deliver to Weld County in the morning and deliver deposits to Bank One in the afternoon. 22 . Safekeeping Agreement Bank One, Greeley undertakes to accept Securities for the Customer' s Safekeeping account according to the Customer' s written instructions . A safekeeping receipt will be issued by Bank One for Securities accepted for the Customer' s account . Interest payments will be made by check to the Weld County Treasurer upon receipt from - the Federal Reserve . 931311 Weld County Page 5 The payment schedule until maturity of each note is as follows : U S Treasury Note : 7 3/4 Note J 95 Schedule/Amount CUSIP 912827YG1 02/15 $8873 . 75 PRINCIPAL $229 , 000 . 00 08/25 MATURITY February 15 , 1995 U S Treasury Note : 7 1/4 Note D 96 Schedule/Amount CUSIP 912827UF7 05/15 $21, 568 . 75 PRINCIPAL $595 , 000 . 00 11/15 MATURITY November 15 , 1996 22 . (a) . Bank One will not be held liable for any loss or damage to Securities in the Safekeeping account, unless the loss or damage is due -to Bank One' s failure to exercise reasonable care . The Bank will not be held liable for the negligence, errors or omissions of its agents unless it fails to exercise reasonable care in the selection of such agents . In no event shall the Bank be liable for loss or damage to the Securities after their withdrawal from the Safekeeping account . 23 . If Repurchase Account interest rates increase, Weld County Treasurer has the option to notify Bank One, Greeley to open a new Repurchase Account for investments . Upon notification, Bank One, Greeley will process a new account for investment purposes, thus providing the highest interest rate possible for Weld County Treasurer' s investments . If an account is opened as a Repurchase Account, Weld County Treasurer has the option to close the account at any time . 24 . Telephone transfers are authorized by Jewell Vaughn or Phyllis Batt . 921311 Weld County Page 6 25 . Service fees for Weld County are as follows : Account Maintenance Fee $ 5 . 00 / per account $ . 05 / per item Item r Credits Deposited $ . 05 / per item $ . 05 / per item Debits $ . 05 / per item Warrants $ . 05 / per item FinexA F $ . 02 / per item ne Sort $25 . 00 / per tape ARP Tape $ . 05 / per item Paid Item Listing Wire Services : $ 5 . 00 / per wire Incoming $ 5 . 00 / per wire Outgoing $ 2 . 50 / per day Daily Courier Services No Charge Return Items No Charge Stop Payments No Charge Non-Sufficient Funds Checks $15 . 00 / per month Account Analysis 9J1311. Weld County Page 7 CUSTOMER BANK ONE, GREELEY SIGNATURE SIGNATURE PRINT NAME PRINT NAME TITLE TITLE DATE DATE 90131.1. Summary of Special Account Handling • Accounts with daily statements and fine sort : 112 402 4405 Main Account 112 402 4298 Warrant Clearing • Accounts set up with daily ARP and fine sort : 112 402 4256 Social Services Warrant Clearing 112 402 4280 Accounts Payable/General Account 112 402 4264 Payroll Clearing • Accounts set up with weekly Snapshot Statement : Revolving Account 112 402 4447 931311 Hello