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Home My WebLink AboutAgenda Report - August 15, 2007 E-09EW9 AGENDA ITEM CITY OF LODI COUNCIL COMMUNICATION im AGENDA TITLE: Authorize the Treasurer to enter into agreement with Farmers and Merchants Bank of Central California for the issuance of a City credit card for Community Center DirectorJames Rodems and Interim Parks and Recreation Director Steve Dutra. MEETING DATE: August 15,2007 PREPARED BY: ManaoementAnalvst RECOMMENDED ACTION: Authorize the Treasurer to enter into agreement with the Farmers and Merchants Bank of Central California for the issuance of a City credit card for Community Center Director James Rodems and Interim Parks and Recreation Director Steve Dutra. BACKGROUND INFORMATION: In October 1995 the City Council authorized the Treasurer and the Revenue Manager to enter into an agreement with Farmers and Merchants Bank of Central California for the issuance of credit cards. This action will allow the issuance of a credit card to Community Center Director James Rodems and Interim Parks and Recreation Director Steve Dutra. These credit cards are for reasons of convenience and cost used in conjunction with attendance by the City Council and staff at conferences, training seminars and other miscellaneous meetings. The limit of $5,000 is the level previously authorized for the Community Center and Parks and Recreation Director positions. vans ud t Manager ud_ t Manager FISCAL IMPACT: NIA FUNDING AVAILABLE: None APPROVED: /�_ Blai g, City Manager AhotsTEN TO SM MMtAAK Where Banking is term e.e a ae,�ea„rr Bank ar eeenai ealirsraia BUSINESS MASTSRCARD® APPLICATION is0 IN ❑ New MasterCad(s) wBh a credit limit of $ ❑ Secures MasterCard BUSINESS APPLICANT INFORMATION [' Credit limit increase to $ For credit Ilnes greater than $5,000.00 please return this application to your local branch with; 1. Business formation documents and current finartir atalemem. 2. Two yean business and personal tax returns. ❑ Sole Proprietorship ❑ General Partnership ❑ Limited Parinershto ❑J Corporation ❑ Non-ProAl Organization' Legal Name of Business Applicant Business Phone Tax ID Number Date Business Fstablished Mo _ Yr DBA (II appiirable) Type of Business Number of Employees Net Income Last Fiscal Year Gross Annual Sales $ Brief Description: Product Sold/5—dear Rendered Business Street Address City State Zip Code Malling Address (If different) City State Zip Code Has Business ever declared bankruptcy? ❑ Yes ❑ No is the Business a parry 10 any claim or Iawwlt? Have PnncipaislOwners ever declared personale bankruptcy) ❑ Yes ❑ No ❑ Yes ❑ No Is the Business an endarser or co -maker for obligahone Act listed on its financial statements? ❑ Yes ❑ No If Yes, indicate tial Contingent liability INFORMATION ON PRINCIPALS" OWNERS Name Title Home Phone Social Security Number %Ownership Home Address City State Zip Code Drivers License Number Name Title Home Phone Social Security Number %Ownership Home Address City State Zip Code Drivers License Number BUSINESS APPLICANT FINANCIAL RELATIONSNIPS Bank Account Number Current Balance Average Balance Account Type ❑ Checking BUSINESS MASTERCARD INFORMATION ❑ Savings ❑ Loan [] Personal ❑ Business ❑ Secured MasterCard" Savings Account to be held as collateral (Account Number) Please print the Business Name as It should appear on your card(s). Limit 21 Characters, including spaces. "'Individual credit limits must be in increments of $100 ($500 minimum) I.—.L_._:-- �__. i and equal to the total amount requested See reverse Idr mare Infdrmalion on cardadadar options. Please print the {ntllvitlual Name as q should appear on each card. Unni characters, Including spaces. if 2 '� ImmTTTT7�f__--lLZ:T- Mivltlual Lretlir bran Drivers LWnss Numeerf Exp. paid 4 Ind'nidwl Credit Limit'-' Ohwers License thmsWiNp-Sate 3 ndwtdlaal Credit Lim'rt"' It— License Npmbwll bate IndHi6Wl Credit I... bimen License Numeerils, pass By signing below. I oertlfy that I am a drimued in submit this application on befol of the dustiness, named above (" Applicanll and mat all mimmation and documents made in connection with this application. including federal and state Income tax retums {t any), are Ime, correct, and complete. I authorize Farmers a Merchants Bank of Central California I"Bank", "Fant Bank") to obtain balance and payon information 06 all accounts requiring pi as a condition of approving this applimben and t0 obtain consumer and business reports from and to report credit information to others, including the Internal Revenue Service and state taxing authorlil&B. about me and my business. I agree to notify Bank promptly of any material change in such information I acknowledge that I this application is subject to final approval of the Applicant and its owners, and that (ii) addhlanal information may he required in other lar the 111 10 make a III credir doeston. I understand that if the Applicant is not approved for the account, Bank may request additional information From the Applicant in order to quality the Applicant Ing another F&M Bank credit account. A facsimile of my signature, in any capacity, may be used as evidence of Applil:anr's acceptance of these agreements, H Applicant is a legal en5ry, all owners must sign below and include their titles and complete the Personal Informal Section of this f1 iI the business owner is roamed, a spbuse'S signature is not required unless he or she is a Co-owner of a business. By signing below, I also, in my individual capacity (even though I may place a title or other designation next to my signature) jointly and severally uncandttionaly guarantee and promise to pay to Bank 211 indebtedness of the Applicant at any dime arising under or rekating to any credit requested through this application accessed by Business MaslarCards issued hereunder as authorized above or as subsequently authertzed by Applicant, as well as any extensions, Increases or renewals of that indebtedness. As guarantor, I waive It) presentment, demand protest, nonce of protest and notice of nonpayment; (lit any defense arising by reason DI any delepse of the Applicant or other guarantor; and (tit) the fight to require Bank to proceed against Applicant or any other guarantor, to pursue any remedy in connection with the guaranteed indehtedness. or to notify guarantor of any additional Indebtedness incurred by the Applicant or of any changes in the Applicant% financial condition. I also alltheriZe Bank, without notice or prior consent, to III extend, modify compromise, accelerate, renew, increase, or otherwise change the terms of the guaranteed indebtedness; Iii) proceed against one or mare guarantors, without proceeding against the Applicant or other guarantor, and (iii) release or substitute any party to the Indebtedness or this guarantee- I agree (i) I will pay Bank's costs and attorneys' fees in enforcing this guarantee. (it) this guarantee will be governed by California law; (ill) this guarantee shall benefit the Bank and its successors and assigns', and pu) an electronic facsimile of my signature, in any capacity, may be used as evidence of my agreement to the terms of this guarantee. By signing below, I agree on behalf of the Applicant to be bound by the terms of the MasterCard Account Agreement and Disclosure that will be sent to Applicant and to pay Bank's casts and aBor"ys' fees in enforcing that MasterCard Account Agreement and Disclosure. I further agree that use of any feature of the BuOneSS MasterCard may be used as evidence of the foregoing authorizahores, acceptances and agreements. If approved, the actual credit granted may be less than The preferred amount. It the actual credit granted is less than the amount requiraled for my Business MasterCard, individual credit limits will he reduced proportionately. I certify that I have read and agree with the terms and conditions. X -. Spnature (Owner 1) Print Name, Title Bale X Signature (Owner 2) Print Name, Tide Date 'NanPerget, Please arbret the Appdeate. maca raFinancial statements— reseemal m eddtion to the Wan applkatWn m V e amI requested if mon man 50%el to nonprofit meme,P""pideil relationship with FSM Bank. ..M en Batts dfineddn ova ant reeds true can alga or crassest (Recons MeeMcM DATE IECb I 111 ii �r) ld M l ❑ PHONE ❑ FA1f ❑ IN PEBBorI I BEPEHNEyAy E�IP/� I 'R-" \'IL II[y II must ae rea«6tl eawncreda vertralldn amore rare'asmanmx OCi ellJ f