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, 2005 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
All of these banks have been approved to accept deposits of the City of Columbus for the year 2004 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 30, 2003. 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 $91,500 from the General Fund, $19,500 from the Recreation and Parks Operating and Extension Fund, $42,000 from the Golf Course Operating Fund, $12,500 from the Electric Operating Fund, $170,000 from the Water Operating Fund, $55,000 from the Development Services Fund, and to declare an emergency ($390,500).
Body
Whereas, the City Treasurer wishes to extend various contracts for the provision...
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