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09-E City Depository - Award Bid
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09-E City Depository - Award Bid
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Last modified
1/4/2007 2:46:40 PM
Creation date
1/4/2007 2:46:38 PM
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Template:
AGENDA
Item Number
09-E
AGENDA - Type
RESOLUTION
Description
Awarding the bid for City Depository for 3-1-07 through 2-28-09
AGENDA - Date
1/8/2007
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<br />CHARGES <br /> <br />List any service charges that will be levied against the City: <br /> <br />NO CHARGES <br /> <br />In addition to tIll": llnrmal1 Qprvie.f':S ~nrl "llnnlies fllI"nisIle>rl h)1 the> de>pos1ton1 hal-IT tl,,,, 1"011,.."";",,. <br />- -- --~......-.... .....-..... ...-- -............... ..J......t-'l""....... ........... ........... .........'-'" V ~.L.L"'-' ~ .l. J.J U .il'\.., l-.1..l.v J.. .LV YY.1115 <br /> <br />services are standard and common to most depository contracts. They are to be furnished to the <br />City at no charge: <br /> <br />deposit slips <br />one large safe deposit box <br />com wrappers <br />night depository service including bags and keys <br />traveler=s and cashier=s checks <br />daily balance on each account <br />money orders <br />stop payment orders <br />. . <br />WIre serVIces <br />checking and savings accounts <br />all bank accounts will be interest bearing accounts <br />on line banking <br />checking and savings accounts <br />overdraft protection <br /> <br />Bidders are requested to submit any further concessions or services in the space provided below <br />which they may want to offer to the City of Paris and make any comment as further consideration <br />in selecting the City=s depository. <br />Bank will pay interest on City's Consolidated Cash Account at a rate equivalent to <br />the discount rate for I3-week Treasury bills plus 12 basis points. The rate will be <br />changed each calendar quarter and calculated using the most recent Treasury Bill auction. <br /> <br />Using the Treasury Bill auction of December 26. 2006. a rate of 5.00% would result. <br /> <br />Upon notification to Bank. City w?uld have the option to bring other City transaction <br />accounts under a rate plan paying the discount rate for I3-week Treasury bills. <br /> <br />Using the Treasury Bill auction of December 26. 2006. a rate of 4.88% would result. <br /> <br />Bank will originate City's ACH payments. both debits and credits without charge. Bank <br />will furnish to City without charge at the end of each year CD's containing a summary <br />of each transaction account activity. <br />
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