O-15-01 02/26/2001VILLAGE OF LEMONT
ORDINANCE NO. o - /5-01
ORDINANCE AUTHORIZING EXECUTION OF A
CONTRACT FOR BANKING SERVICES
ADOPTED BY THE
PRESIDENT AND BOARD OF TRUSTEES
OF THE VILLAGE OF LEMONT
This 26th day of February , 2001
Published in pamphlet form by
authority of the President and
Board of Trustees of the Village of
Lemont, Counties of Cook, Will, and
DuPage, Illinois this 26th
day of February , 2001
ORDINANCE - /-Q/
ORDINANCE AUTHORIZING EXECUTION OF A
CONTRACT FOR BANKING SERVICES
WHEREAS, the Village of Lemont seeks to enter into a contract for banking services; and
WHEREAS, South Holland Trust & Savings Bank has provided the banking products and
services as requested by the Village of Lemont.
NOW, THEREFORE, BE IT ORDAINED that the attached contract for banking services
is hereby passed and approved.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL AND DU PAGE, ILLINOIS
ON THIS 26th day of February , 2001
John Benik
Debby Blatzer
Keith Latz
Connie Markiewicz
Richard Rimbo
Mary Studebaker
AYES NAYS PASSED ABSENT
Approved by me this 26th day of February
CHARLENE SMOLLEN, Village Clerk
Approved as to form:
Village Attorney
Date:
HARLENE SMOLLEN, Village Clerk
, 2001.
beSipt
RICHA A,
WASNESKI, Mayor
a0
Holland
Bank
Lemont Banking Center 1151 State Street Lemont, Illinois 60439 -4200 630/257 -2281 Fax: 630/257 -2421 www.shbank.com
February 20, 2001
Village of Lemont
418 Main Street
Lemont, IL 60439 -3788
Subject: Contract for Banking Services
The purpose of this contract is to identify the terms and conditions relating to banking services to
be provided by the South Holland Trust & Savings Bank (Bank) for the Village of Lemont
(Village).
This contract represents the Bank's intention to provide all services and products as outlined in
its' "Proposal of Banking Services for Village of Lemont" dated September 14, 2000. The
proposal is in response to the Village's "Banking Services Request for Proposal for the Village of
Lemont" dated August 22, 2000.
This contract is for a three -year (3) period commencing March 1, 2001 and expiring on February
28, 2004. There is an option to extend the contract for an additional three -year (3) period. The
extension will be subject to an additional contract, to be executed by both parties before February
28, 2004.
The Bank agrees to freeze all fees and costs at the levels indicated in our proposal. This contract
covers all current Bank products including lockbox services. It is understood that the Village may
or may not enter in to a contract for lockbox services at this time. Any new Banking products and
services offered by the Bank will be negotiated separately if the Village decides to use them.
Fees and costs will be negotiable items before the signing of any optional contract extension prior
to February 28, 2004.
The contract may be terminated by either party, by giving written notice to the other party no later
than ninety (90) calendar days before the proposed termination date. This provision may be
exercised only after the contract has been in effect for three (3) calendar months. The Bank shall
be entitled to just and equitable compensation for any work completed to the termination date.
Please confirm that the foregoing correctly sets forth the terms of our contract by executing this
copy and returning to Bonnie L. Houdek, at the Lemont Banking Center branch.
Confirmed as of the date written be w:
Villag'of L
By:
Name: Richar
Ti iI ' Village
i
Sincerely,
South H
nd Trust & Savings B -nk
ii
Name: =onnie L. Houdek
Title: Vice President
ated:
6 if
Established 1911