HomeMy WebLinkAbout2008-046
THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
BY-LAW 2008 - 046
Being a By-law to authorize a contract between the
Corporation of the Municipality of Clarington and Toronto
Dominion Bank.
THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON HEREBY ENACTS AS
FOLLOWS:
1. THAT the Mayor and Clerk are hereby authorized to execute, on behalf of the
Corporation of the Municipality of Clarington and seal with the Corporation Seal, a
contract between, Toronto Dominion Bank, Oshawa, Ontario, and said
Corporation; and
2. THAT the contract attached hereto as Schedule "A" form part of this By-law.
By-law read a first and second time this 25th day of March, 2008.
By-law read a third time and finally passed this 25th day of March, 2008.
Abo eo> r:Qethy, Mayor ·
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Commercial Banking
P.O.Box 247
South-East Ontario
Commercial Centre
2 King Street East,2nd Fl.
Oshawa,Ontario
L1H 7L3
Telephone:(905)576-0863
April 2,2008
Mr. Jerry Barber,Purchasing Manager
Corporation of the Municipality of Clarington
40 Temperance Street
Bowmanville, Ontario
L1C 3A6
Re: Banking Services for The Corporation of the Municipality of Claringlon,The
Clarindon Museums and Archives &The Clarington Public Library Board
Dear Mr, Barber:
F 6 I e As per the terms of our banking proposal prepared for The Corporation of the Municipality of
Clarington,The Clarington Museums and Archives &The Clarington Public Library Board dated
December 14, 2007,TD Commercial Banking would be pleased to extend your existing general
banking and pricing arrangements for an additional three years expiring May 2011 with an option
to extend for an additional two years.
Effective May 1, 2008
Fees
We will provide banking services for a fixed monthly fee of$0.00.
Interest
Canadian dollar balances will be,paid interest at a rate of TD Composite Prime less 1.70%paid
monthly.
Interest earned on credit balances,with the USD account earning interest at NYP-4.50%paid
monthly,
Cash Management
Fees Waived for the following services.
=:> Account Balance Reporting via IAMB Business Banking
=> TD's US Pay through Service
Fees Discounted for the following services.
Electronic Funds Transfer Service-Debits/Collections-via TD's WEB Business
Banking
Payments and Transfer Service via Web Business Banking
=> TD's Cheque Reconciliation Service -Fraud Prevention Service
Summary
TD Commercial Banking appreciates the opportunity to extend this compensation package to The
Corporation of the Municipality of Clarington, The Clarington Museums and Archives & The
Clarington Public Library Board. We are committed to providing you with quality customer
service and look forward to our continued banking relationship.
Sincerely,
QJ CS `f�
J11Z Ranalli Maggie O'Toole
District Vice President, Commercial Banking Manager, Business Banking Services