Explanation
Ordinance 0150-2007
BACKGROUND:
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 are currently eligible depositories of the City of Columbus, pursuant to Chapter 321.04 of the Columbus City Code. Approval is 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 19, 2006. The contracts are 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 the second year of a seven year contract for banking services for the period of March 1, 2007 through February 28, 2008 as follows:
Investment Safekeeping Account Fifth Third Bank $6,000
Payroll Account JP Morgan Chase Bank Extend time only
Credit Card Processing Account Huntington National Bank $389,350 $208,350
Main Operating Account JP Morgan Chase Bank Extend time only
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 through February 28, 2008.
Water Lock Box JP Morgan Chase $ 130,000
Contract Compliance: JP Morgan Chase Bank, 134994650, expiration 9/14/2008; Fifth Third Bank, 310740333, expiration 10/20/2008 and 310854434, expiration 4/8/2007; Huntington National Bank, 113328074, expiration 4/8/2007
Title
To authorize the City Treasurer to modify and extend contracts for various banking services; to authorize the expenditure of up to $525,350 $344,350 from various funds within the city; and to declare an emergency. ($525,350.00) ($344,350.00)
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 enter into contracts and authorize the expenditures 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 modify and extend the contracts with JP Morgan Chase Bank for the provision of the Main Operating Account and 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, 2008.
Section 2. That the City Treasurer is hereby authorized to modify and extend the 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, 2008 and to authorize the expenditure of up to $6,000 or so much thereof as may be necessary as follows:
Division: 2301 | Fund: 010 | OCA: 230227 | Object level one: 03 | Object level three code: 3348 | Amount: $6,000.00 | City Treasurer
Section 3. 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, 2008 and to authorize the expenditure of $389,350 $208,350, or so much thereof as may be necessary, as follows:
Division: 5906 | Fund: 010 | OCA: 590644 | Object level one: 03 | Object level three code: 3348 | Amount: $32,650.00 | Parking Violations
Division: 2202 | Fund: 010 | OCA: 220542 | Object level one: 03 | Object level three code: 3348 | Amount: $10,000.00 | Income Tax
Division: 5909 | Fund: 240 | OCA: 599148 | Object level one: 03 | Object level three code: 3348 | Amount: $600.00 | Transportation
Division: 5909 | Fund: 265 | OCA: 599079 | Object level one: 03 | Object level three code: 3348 | Amount: $1,400.00 | Transportation
Division: 5101 | Fund: 285 | OCA: 510628 | Object level one: 03 | Object level three code: 3348 | Amount: $3,200.00 | Recreation and Parks
Division: 5101 | Fund: 285 | OCA: 511139 | Object level one: 03 | Object level three code: 3348 | Amount: $14,500.00 | Recreation and Parks
Division: 5101 | Fund: 285 | OCA: 510396 | Object level one: 03 | Object level three code: 3348 | Amount: $500.00 | Recreation and Parks
Division: 5101 | Fund: 285 | OCA: 511535 | Object level one: 03 | Object level three code: 3348 | Amount: $1,000.00 | Recreation and Parks
Division: 5101 | Fund: 285 | OCA: 510404 | Object level one: 03 | Object level three code: 3348 | Amount: $8,500.00 | Recreation and Parks
Division: 5103 | Fund: 284 | OCA: 516013 | Object level one: 03 | Object level three code: 3348 | Amount: $2,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516021 | Object level one: 03 | Object level three code: 3348 | Amount: $6,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516062 | Object level one: 03 | Object level three code: 3348 | Amount: $8,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516310 | Object level one: 03 | Object level three code: 3348 | Amount: $8,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516104 | Object level one: 03 | Object level three code: 3348 | Amount: $6,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516187 | Object level one: 03 | Object level three code: 3348 | Amount: $8,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516146 | Object level one: 03 | Object level three code: 3348 | Amount: $3,000.00 | Golf
Division: 5103 | Fund: 284 | OCA: 516229 | Object level one: 03 | Object level three code: 3348 | Amount: $1,000.00 | Golf
Division: 6002 | Fund: 550 | OCA: 600207 | Object level one: 03 | Object level three code: 3348 | Amount: $4,100.00 $480.00 | Operational Support
Division: 6002 | Fund: 600 | OCA: 600209 | Object level one: 03 | Object level three code: 3348 | Amount: $73,800.00 $8,640.00 | Operational Support
Division: 6002 | Fund: 650 | OCA: 600205 | Object level one: 03 | Object level three code: 3348 | Amount: $73,800.00 $8,640.00 | Operational Support
Division: 6002 | Fund: 675 | OCA: 600215 | Object level one: 03 | Object level three code: 3348 | Amount: $53,300.00 $6,240.00 | Operational Support
Division: 4403 | Fund: 240 | OCA: 440377 | Object level one: 03 | Object level three code: 3348 | Amount: $70,000.00 | Development Services
Section 4. 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, 2008, and to authorize the expenditure of up to $130,000, or so much thereof as may be necessary, as follows:
Division: 6002 | Fund: 550 | OCA: 600207 | Object level one: 03 | Object level three code: 3348 | Amount: $2,600.00 | Operational Support
Division: 6002 | Fund: 600 | OCA: 600209 | Object level one: 03 | Object level three code: 3348 | Amount: $46,800.00 | Operational Support
Division: 6002 | Fund: 650 | OCA: 600205 | Object level one: 03 | Object level three code: 3348 | Amount: $46,800.00 | Operational Support
Division: 6002 | Fund: 675 | OCA: 600215 | Object level one: 03 | Object level three code: 3348 | Amount: $33,800.00 | Operational Support
Section 5. 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.