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Finance and Management Services <br />www.santa-ana.org/finance <br />Item # 19 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />August 5, 2025 <br />TOPIC: Depository Banking Services <br />AGENDA TITLE <br />Resolution and Second Amendment to Agreement with J.P. Morgan Chase Bank, N.A. <br />(General Fund) <br />RECOMMENDED ACTION <br />1.Adopt a Resolution designating J.P. Morgan Chase Bank, N.A. as the official <br />depository for the City of Santa Ana for two (2) additional years commencing January <br />1, 2027 through December 31, 2028. <br />RESOLUTION NO. 2025-XXX entitled A RESOLUTION OF THE CITY COUNCIL OF <br />THE CITY OF SANTA ANA DESIGNATING JP MORGAN CHASE BANK, N.A., AS <br />THE DEPOSITORY FOR CITY OF SANTA ANA FUNDS, FOR TWO (2) ADDITIONAL <br />YEARS THROUGH DECEMBER 31, 2028, AND DESIGNATING SIGNATORIES <br />AUTHORIZED FOR THE PURPOSE OF WITHDRAWAL OF SAID FUND <br />2.Authorize the City Manager to execute a second amendment to agreement with J.P. <br />Morgan Chase Bank, N.A. (“JPMC”) to provide additional banking and related services <br />in the amount of $225,000, for a total agreement amount not to exceed $787,500 <br />(Agreement No. A-2025-XXX). <br />GOVERNMENT CODE §84308 APPLIES: Yes <br />DISCUSSION <br />The Treasury and Customer Service Division (“Treasury”) of the Finance and <br />Management Services Agency (“FMSA”) is responsible for maintaining all banking related <br />services and transactions for the City, Successor Agency, and Housing Authority. <br />Banking related services include, but are not limited to: daily deposit processing <br />(electronic/physical checks, currency, and coin), check clearing, Automated Clearing <br />House (ACH), gateway services, wire services, and account reconciliation. <br />The term of the current agreement with J.P. Morgan Chase Bank, N.A. ends December <br />31, 2026. The recommended action would extend that term to December 31, 2028. <br />  <br />  <br />City Council 19 – 1 8/5/2025