MEMORANDUM

TO: Gary Superman, Assembly President

Members, Kenai Peninsula Borough Assembly

THRU: Dale Bagley, Mayor

FROM: Scott Holt, Finance Director

DATE: April 21, 20205

SUBJECT: Resolution 2005-039, authorizing extension of contract for banking services

In Resolution 2002-032 the assembly approved awarding a contract for banking services to First National Bank of Alaska. The contract is a three-year contract, ending May 31, 2005, and provides for two additional one-year extensions upon approval by both parties. This resolution would authorize the mayor to execute a one-year extension, until May 31, 2006, of the contract for banking services with First National Bank of Alaska.