City of Columbus - File #: 0147-2011

• File #: 0147-2011
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 1/20/2011
• In control: Administration Committee
• On agenda: 2/28/2011
• Final action: 3/2/2011
• Title: To authorize the City Treasurer to modify and extend contracts for various banking services; to authorize the expenditure of up to $1,190,500.00 from various funds within the city; and to declare an emergency. ($1,190,500.00)

Date	Ver.	Action By	Action	Result
3/2/2011	1	MAYOR	Signed
3/2/2011	1	CITY CLERK	Attest
2/28/2011	1	Columbus City Council	Approved	Pass
2/28/2011	1	COUNCIL PRESIDENT	Signed
2/11/2011	1	Treasurer Drafter	Sent to Clerk's Office for Council
2/10/2011	1	FINANCE DIRECTOR	Reviewed and Approved
2/10/2011	1	Treasurer Drafter	Sent for Approval
2/10/2011	1	CITY ATTORNEY	Reviewed and Approved
2/9/2011	1	Finance Reviewer	Reviewed and Approved
2/7/2011	1	Treasurer Drafter	Sent for Approval
2/7/2011	1	Auditor Reviewer	Reviewed and Approved
2/7/2011	1	CITY AUDITOR	Reviewed and Approved
2/7/2011	1	Treasurer Drafter	Sent for Approval
2/7/2011	1	Finance Reviewer	Reviewed and Approved
2/7/2011	1	Finance Reviewer	Reviewed and Approved
2/7/2011	1	Finance Reviewer	Reviewed and Approved
2/7/2011	1	Finance Reviewer	Reviewed and Approved
2/4/2011	1	Treasurer Drafter	Sent for Approval
2/4/2011	1	Treasurer Drafter	Sent for Approval
2/4/2011	1	CITY TREASURER	Reviewed and Approved
2/4/2011	1	Treasurer Drafter	Sent for Approval
2/4/2011	1	EBOCO Reviewer	Sent for Approval
2/4/2011	1	ODI DIRECTOR	Reviewed and Approved

Explanation

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 29, 2010. 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 sixth year of a seven year contract for banking services for the period of March 1, 2011 through February 29, 2012 as follows:

Fifth Third Bank -- Investment Safekeeping Account -- $5,000
JP Morgan Chase Bank -- Payroll Account and Main Operating Account - $3,000
Huntington National Bank -- Credit Card Processing Account -- $1,063,500
Huntington National Bank - Operating Account - $5,000

In addition, the City Treasurer issued an RFP on October 26, 2007 for water lockbox services. Ten companies were solicited via the city's vendor services website. A proposal was received from one (1) local bank, the Huntington National Bank. The contract was for a five (5) year period beginning February 29, 2008 through February 28, 2013, subject to annual appropriations and approval of the contract by the Columbus City Council. The City Treasurer's Office wishes to enter into the fourth year of the five year contract for water lockbox services with the Huntington National Bank for the period March 1, 2011 throu...