Title
Dept/ Agency: Finance
Action: (X) Ratifying (X) Authorizing ( ) Amending
Purpose: Designating bank depositories/adopting Cash Management Plan
Entity Name/Address:
BANK DEPOSITORIES:
J.P. Morgan Chase, 570 Broad St. Suite 110, Newark, NJ 07102
TD Bank (formerly Commerce Bank), 105 Mulberry St., Newark, NJ 07102
Crown Bank, 174 Ferry St., Newark, NJ 07105
Wells Fargo (formerly Wachovia Bank), 550 Broad ST., Newark, NJ 07102
City National Bank, 900 Broad St., Newark, NJ 07102
Garden State Community Bank (formerly Penn Federal Savings), 36 Pacific St., Newark, NJ 07105
PNC Bank, 1140 Raymond Blvd., Newark, NJ 07102
Bank of America, 790 Broad St., Newark, NJ 07102
Citibank, 721 Broad St., Newark, NJ 07102
Banco Popular, 500 Bloomfield Avenue, Newark, NJ 07107
Investors Savings Bank (formerly Millennium BCP Bank), 184 Ferry Street, Newark, NJ 07105
Valley National Bank, 1455 Valley Road, Wayne, NJ 07470
Santander Bank (formerly Sovereign Bank), 905 Broad Street, Newark, NJ, 07102
N.J. Cash Management Fund, 50 West State Street, 9th Floor, Trenton, NJ 08608-0290
BROKER-DEALERS:
Bank of America Securities, 1633 Broadway, NY, NY, 10019
Wells Fargo Securities, 301 S. College St., Charlotte, NC, 28202
PNC Capital Markets, 249 5th Ave, Pittsburgh, PA, 15222
Merrill Lynch, 250 Vesey Street, New York, NY, 10080
Morgan Stanley Dean Witter, 1585 Broadway, New York, NY, 10036
Period: January 1, 2014 to December 31, 2014
Additional Information:
Deferred 7R5-a 050714
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WHEREAS, N.J.S.A. 40A:5-14 requires that the City of Newark adopt a cash management plan and deposit, or invest, or deposit and invest its funds pursuant to that plan;
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The attached Cash Management Plan is approved for the City of Newark for the period of January 1, 2014 through December 31, 2014.
2. The banks listed below ...
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