Explanation
Background: In June of 2002 the Franklin County Municipal Clerk entered into a three a year agreement with National City Bank, expiring on June 30, 2005. On June 14, 2005 the Clerk signed a letter agreeing to month-to-month services with National City Bank, along with a Memorandum of Agreement for Deposit of Public Funds. On September 16, 2005 an Addendum BA Merchant Services agreement and Merchant Certification agreement was signed by the Clerk for monthly services.
The Franklin County Municipal Clerk seeks authorization to enter into one year agreements with National City Bank to pay for banking services through November 30, 2006. The documents that formed the agreements were: a Memorandum of Agreement for the Deposit of Public Funds, Master Treasury Services Agreement, Certified Treasury Management Agreement, a Merchant Service Agreement with National Processing Company, LLC (NCP) for a Card Processing Agreement, Debit Card Agreement, and an Equipment Agreement.
The Ohio Revised Code, section 1901.31 (G), empowers the Franklin County Municipal Court Clerk to select the depository of its funds without engaging in competitive bidding. Nonetheless, an informal bidding process was used, soliciting eight banks. Although National City Bank was not the lowest bidder, the Clerk awarded the contract to the current bank, National City Bank, due to the hardship it would place on the court to change banks in the midst of difficult computer advancements. It is estimated that the difference between the two contracts will be approximately $2,397 per month. (.07% in earnings credit and $297.00 in monthly bank fees)
Supplier: National City Bank's compliance number 314270685
Fiscal Impact: $95,000.00 is and available within the Municipal Court Clerk's 2005 general fund appropriations.
Emergency: To maintain uninterrupted bank services to the Franklin County Municipal Court.
Title
To authorize Franklin County Municipal Co...
Click here for full text