AGENDA CAPTION:
Title
Consider approval of Resolution 2026-37R, approving a contract with Wells Fargo, National Association, for the provision of Depository Services for a three-year term and authorizing one additional extension of up to two years; in the annual amount of $49,620.00; authorizing the City Manager, or her designee, to execute the contract on behalf of the city; and declaring an effective date.
Body
Meeting date: March 3, 2026
Department: Finance
Amount & Source of Funding
Funds Required: $49,620 estimate per year
Account Number: 10001280-54010; 21006322-54010; 22006335-54010
Funds Available: Yes
Account Name: Bank Charges
Fiscal Note:
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Background Information:
On October 30, 2025, the City received four (4) submissions in response to RFA 2025-134 for Depository Services. A City-staffed evaluation team thoroughly reviewed and evaluated all submissions with the assistance of a technical consultant to the City. The evaluation team has determined Wells Fargo Bank, National Association, to be the most qualified and best value to serve the City's banking needs.
Wells Fargo has served as the City's depository since 2010 and maintains a branch presence in San Marcos. The City intends to award a contract to Wells Far...
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