Board of Estimate & Contract

1&S3 18512 irl%a i!ilt BOARD OF ESTIMATE & CONTRACT AGENDA FRIDAY, OCTOBER 30, 2020 ii:3o AM MAYOR'S CONFERENCE ROOM, CITY HALL MOUNTVERNON, NEWYORK RESOLUTIONS APPROVING ORDINANCES i. Authorizing the City Clerk or the Deputy City Clerk to enter into a banking agreement with PCSB Bank to facilitate a "Pass Through" account for the Urban Renewal Agency funds. O(,T 3 [€ :ititi RESOLVED, that an ordinance adopted by the City Council on l October 28, 2020 and signed by the Mayor on October 29, 2020, authorizing the City Clerk or the Deputy City Clerk to enter into a banking agreement with PCSBa Bank to facilitate a "Pass Through" account for the Urban Renewal Agency funds, be and the same hereby is approved. APP TO FORM ADOPTED BY BOARD OF ESTIMATE, AND CONTRACT Assistant Co-rpo cr>- C) 0 OCO o APPROVED o a) a: Dept. OCT2 a 2020 7- AUTHORJZING THE CITY CLERK OR THE AN ORDINANCE DEPUTY CITY CLERK TO ENTER INTO A BANKING AGREEMENT WITH PCSB BANK TO FACILIT ATE A "P ASS THROUGH" ACCOUNT FOR THE URBAN RENEW AL AGENCY FUNDS. WHEREAS, at the City Corincil Meeting on October 26, 2020, the Deputy City Clerk has requested legislation authorizing the City Clerk or Deputy City Clerk to enter into a banking agreement with PCSB BANK; and WHEREAS, PCSB BANK has proposed a new deposit relationship whicli includes the following: * Municipal Checking Account which will serve as a "Pass Through" account to accept funds on behalf of the Urban Renewal Agency * Online- Banking access to the account with the ability to transfer funds to tlie designated beneficiaries within 72 hours of receipt via either ACH or Wire Transfer WHEREAS, as an incentive to banking with PCSB BANK, the City Clerk or Deprity City Clerk will be provided with a dedicated relationship manager; NOW, THEREFORE, The City of Mount Vernon, in City Council convened, does hereby ordain and enact: Section 1. City Clerk or Deputy City Clerk is hereby authorized to enter into an online banking agreement with PCSB BANK. Section 2. This ordinance shall take effect upon its approval by tlie Board of Estimate and Contract. a'/a Councilperson \ APPR VE A '777 r[,l ,L l,' Ass-istan,:Corporation Counsel APPROVED Dept. Mayor