Explanation
On September 6,2005 a Request for Proposal (RFP) for various banking services was issued by the Columbus City Treasurer's Office. Proposals were received from six (6) local banks and subsequently reviewed by the Columbus Depository Commission, which recommended, subject to the approval of City Council, the award of banking services to specific banks on December 2, 2005. All such banks were approved as eligible depositories of the City of Columbus, pursuant to Chapter 321.04 of the Columbus City Code. Such approval was based upon Applications for the Deposit of Public Funds, which were submitted by each bank and approved at a meeting of the Columbus Depository Commission held on December , 2005. The approval is for a period of seven (7) years starting March 1,2006 through February 28,2013 subject to annual appropriations and approval of contracts by the Columbus City Council
The City Treasurer wishes to enter into contract for banking services for the period of March 1, 2006 through February 28, 2007 as follows:
Main Operating Account JP Morgan Chase Bank $ 40,000
Investment Safekeeping Account Fifth Third Bank $ 6,000
Payroll Account JP Morgan Chase Bank $ 11,000
Credit Card Processing Account Huntington National Bank $ 341,350
In addition, the City Treasurer wishes to extend the existing water lockbox contract with JP Morgan Chase for the same period of time. Bids were received for this contract for the period March 1.2003-February 28, 2008.
Water Lock Box JP Morgan Chase $120,000
Title
To authorize the City Treasurer to award contracts for various banking services: to authorize the expenditure of up to $89,650 from the General Fund, $22,700 from the Recreation and Parks Operating and Extension Fund, $ 42,000 from the Golf Course Operating Fund, $24,000 from the Electric Operating Fund, $70,000 from the Development Services Fund, $270,000 from the Water Operating Fund, to extend the existing contract water lockbox contract, and to declare an emergency ($518,350).
Body
Whereas, the City Treasurer wishes to award various contracts for the provision of banking services as provided for in a Request for Proposal issued on September 6,2005 and for which approval for banking services was approved by the Columbus Depository Commission at a meeting held on December 2, 2005, and
Whereas, the City Treasurer wishes to extend the existing water lockbox contract with JP Morgan Chase for which the Depository Commission approved an extension at a meeting on December 2, 2005 for the provision of banking services, and
Whereas, as an emergency exists in the usual daily operation of various City divisions, as it is immediately necessary to award new contracts and extend an existing contract as cited below, providing banking services necessary for the daily operation of normal business activities of the City of Columbus; now therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS
Section 1. That the City Treasurer is hereby authorized to award contracts with JP Morgan Chase Bank; for the provision of the Main Operating Account of the City of Columbus within the guidelines set forth in the original bid document with a contract ending date of February 28, 2007, and to authorize the expenditure of up to $40,000 or so much thereof as may be necessary from the General Fund 010, City Treasurer's Office 23-01, as follows:
OCA Code Object Level 1 Object Level 3 Purpose Amount
230227 03 3348 Banking Services $40,000
Section 2 That the City Treasurer is hereby authorized to award contracts with; Fifth Third Bank for the provision of the Investment Safekeeping Account of the City of Columbus within the guidelines set forth in the original bid document with a contract ending date of February 28, 2007, and to authorize the expenditure of up to $6,000 or so much thereof as may be necessary from the General Fund 010, City Treasurer's Office 23-01, as follows::
OCA Code Object Level 1 Object Level 3 Purpose Amount
230227 03 3348 Banking Services $ 6,000
Section 3. That the City Treasurer is hereby authorized to award contracts with JP Morgan Chase Bank; for the provision of the Payroll Account of the City of Columbus within the guidelines set forth in the original bid document with a contract ending date of February 28, 2007, and to authorize the expenditure of up to $11,000 or so much thereof as may be necessary from the General Fund 010, City Treasurer's Office 23-01, as follows:
OCA Code Object Level 1 Object Level 3 Purpose Amount
230227 03 3348 Banking Services $11,000
Section 4. The City Treasurer is hereby authorized to award the existing contract with Huntington National Bank for the provision of credit card processing services by extending the ending date of the contract to February 28, 2005 and to authorize the expenditure of $341,350 , or so much thereof as may be necessary as follows:
from the General Fund 010, Parking Violations 23-03, as follows:
OCA Code Object Level 1 Object Level 3 Purpose Amount
230301 03 3348 Banking Services $32,650
from the Recreation and Parks Operating Fund 285, Department 51-01, as follows:
OCA Code Object Level 1 Object Level 3 Purpose Amount
510628 03 3348 Banking Services $ 3,200
511139 03 3348 Banking Services $12,000
510396 03 3348 Banking Services $ 500
511535 03 3348 Banking Services $ 1,000
510404 03 3348 Banking Services $ 6,000
from the Golf Course Operating Fund 284, Department 51-03, as follows:
OCA Code Object Level 1 Object Level 3 Purpose Amount
516013 03 3348 Banking Services $2,000
516021 03 3348 Banking Services $6,000
516062 03 3348 Banking Services $8,000
516310 03 3348 Banking Services $8,000
516104 03 3348 Banking Services $6,000
516187 03 3348 Banking Services $8,000
516146 03 3348 Banking Services $3,000
516229 03 3348 Banking Services $1,000
from the Electricity Operating Fund 550, Department 60-07, as follows:
OCA Code Object Level 1 Object Level 3 Purpose Amount
600742 03 3348 Banking Services $24,000
from the Development Services Fund 240, Department 44-03, as follows:
OCA Code Object Level 1 Object Level 3 Purpose Amount
440377 03 3348 Banking Services $70,000
- from the Water Operating Fund 600, Department 60-09, as follows:
(2) (2) (2) (2)
OCA Code Object Level 1 Object Level 3 Purpose Amount
602318 03 3348 Banking Services $150,000
Section 5. That the City Treasurer is hereby authorized to modify the existing contract with JP Morgan for the provision of water lockbox services by extending the existing date of the contract to February 28, 2007, and to authorize the expenditure of up to $120,000 from the Water Operating Fund 600, Department 60-09
as follows:
OCA Code Object Level 1 Object Level 3 Purpose Amount
602318 03 3348 Banking Services $120,000
Section 6. That for the reasons stated in the preamble hereto, which is hereby made a part hereof, this ordinance is hereby declared to be an emergency measure and shall take effect and be in force from and after its passage and approval by the Mayor or ten days after passage if the Mayor neither approves nor vetoes the same.