City Council

13. 24-52660 Recommendation to adopt Specifications No. RFP FM-23-317 and award contract to Northern Trust Company, of Chicago, IL, for trust and custody services, in an annual contract amount of $61,799, authorize a 20 percent contingency in the amount of $12,360 for a total annual contract amount not to exceed $74,159, for a period of two years, with the option to renew for three additional one-year periods, at the discretion of the City Manager; and authorize City Manager, or designee, to execute all documents necessary to enter into the contract, including any necessary subsequent amendments. (Citywide) Office or Department: Financial Management Suggested Action: Approve recommendation.