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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 />None <br /> <br />In addition to the normal services and supplies furnished by the depository bank, the following <br />services are standard and common to most depository contracts. They are to be furnished to the <br />City at no charge: <br /> <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 />mon~y 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 />Origination of ACH payments, both debits and credits <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 /> <br />All of the City's DDA (transaction accounts) will be classified as NOW accounts <br />bearing interest at the rate equivalent to the discount rate for the I3-week <br />Treasury Bill minus 50 basis points, adjusted weekly. Using the most recent <br />I3-week Treasury Bill, the current interest rate on this account would be 4.38%. <br />
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