Explanation
On July 11, 1995 a Request for Proposal (RFP) for various banking services was issued by the Columbus City Treasurer's Office. Proposals were received from seven (7) local banks and subsequently reviewed by the Columbus Depository Commission, which recommended the award of banking services to specific banks. Ordinance #24-96 authorized the City Treasurer to enter contracts based upon these recommendations.
The City Treasurer wishes to extend these contracts to February 28, 2006 as follows:
Main Operating Account National City Bank
Investment Safekeeping Account Huntington Trust
Payroll & checking Account Huntington
Credit Card Processing Account Fifth Third Processing Solutions
Water Lock Box Bank One (JP Morgan Chase, NA)
All of these banks have been approved to accept deposits of the City of Columbus for the year 2005 as required in 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 21, 2004. The Commission also approved the extension of these banking contracts at that time.
Title
To authorize the City Treasurer to modify contracts for various banking services: to authorize the expenditure of up to $100,650.00 from the General Fund, $22,000.00 from the Recreation and Parks Operating and Extension Fund, $42,000.00 from the Golf Course Operating Fund, $18,000.00 from the Electric Operating Fund, $170,000.00 from the Water Operating Fund, $70,000.00 from the Development Services Fund, and to declare an emergency ($422,650.00).
Body
Whereas, the City Treasurer wishes to extend various contracts for the provision of banking services as provided for in a Request for Proposal issued on July 11, 1995 and for which approval for extensions of such contracts was approved by the Columbus Depository Commission at a meeting held on December 21, 2004 and
Whereas, as an emergency exists in the usual daily operation of various City divisions, as it is immediately necessary to extend existing contracts 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 modify the existing contract with National City Bank for the provision of the Main Operating Account of the City of Columbus by: (1) increasing fees for services within the guidelines set forth in the original bid document; (2) by extending the ending date of the contract to February 28, 2006, and (3) to authorize the expenditure of up to $55,000.00 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 $55,000.00
Section 2. That the City Treasurer is hereby authorized to modify the existing contract with the Huntington Trust Company for the provision of a Safekeeping Account for investments of the City of Columbus by extending the ending date of the contract to February 28, 2006, and to authorize the expenditure of up to $4,400.00 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 $4,400.00
Section 3. That the City Treasurer is hereby authorized to modify the existing contract with the Huntington National Bank for the provision of a Payroll Account and Checking Account by extending the ending date of the contract to February 28, 2006, and to authorize the expenditure of up to $17,500.00 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 $16,000.00
230227 03 3348 Banking Services $ 1,500.00
Section 4. The City Treasurer is hereby authorized to modify the existing contract with Fifth Third Processing Solutions for the provision of credit card processing services by extending the ending date of the contract to February 28, 2006 and to authorize the expenditure of $225,750.00, or so much thereof as may be necessary as follows:
from the General Fund 010, Parking Violations Bureau 23-03, as follows:
OCA Code Object Level 1 Object Level 3 Purpose Amount
230301 03 3348 Banking Services $23,750.00
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 $ 2,500.00
511139 03 3348 Banking Services $12,000.00
510396 03 3348 Banking Services $ 500.00
511535 03 3348 Banking Services $ 1,000.00
510404 03 3348 Banking Services $ 6,000.00
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 $ 2,000.00
516021 03 3348 Banking Services $ 6,000.00
516062 03 3348 Banking Services $ 8,000.00
516310 03 3348 Banking Services $ 8,000.00
516104 03 3348 Banking Services $ 6,000.00
516187 03 3348 Banking Services $ 8,000.00
516146 03 3348 Banking Services $ 3,000.00
516229 03 3348 Banking Services $ 1,000.00
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 $18,000.00
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 $70,000.00
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 $50,000.00
Section 5. That the City Treasurer is hereby authorized to modify the existing contract with Bank One, NA (JP Morgan Chase) for the provision of water lockbox services by extending the existing date of the contract to February 28, 2006, and to authorize the expenditure of up to $120,000.00 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 $120,000.00
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.