City of Columbus - File #: 0211-2006

• File #: 0211-2006
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 1/25/2006
• In control: Administration Committee
• On agenda: 2/13/2006
• Final action: 2/15/2006
• 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).

Date	Ver.	Action By	Action	Result
2/15/2006	1	CITY CLERK	Attest
2/14/2006	1	MAYOR	Signed
2/13/2006	1	Columbus City Council	Approved	Pass
2/13/2006	1	COUNCIL PRESIDENT	Signed
2/1/2006	1	CITY TREASURER	Sent to Clerk's Office for Council	Pass
1/31/2006	1	CITY ATTORNEY	Reviewed and Approved
1/27/2006	1	CITY TREASURER	Reviewed and Approved
1/26/2006	1	CITY TREASURER	Reviewed and Approved
1/26/2006	1	CITY TREASURER	Reviewed and Approved
1/26/2006	1	ODI DIRECTOR	Reviewed and Approved
1/26/2006	1	CITY TREASURER	Reviewed and Approved
1/26/2006	1	CITY AUDITOR	Contingent
1/26/2006	1	CITY AUDITOR	Reviewed and Approved

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 ...