Explanation
The purpose of this legislation is to authorize the Director of Public Utilities to modify and extend the current contract for e-lockbox banking services with US Bank to provide additional resources and to extend the term of contract EL014009 through July 31, 2014. The e-lockbox service was included in the 2013 City Treasurer’s Office bid for banking services and was awarded to JP Morgan Chase Bank however there is a need to maintain the current account at US Bank during the transition between banks.
This extension will provide for the continued receipt of electronic utility payments to the City of Columbus,
It is requested that this ordinance be handled in an emergency manner, as the current e-lockbox services contract will expire March 31, 2014 and the division wishes to have a contract extension in place so that payments will not be interrupted.
The maximum obligation of the City for services described in this agreement for the period April 1, 2014 through July 31, 2014 is limited to Thirty Thousand Dollars. ($30,000.00).
SUPPLIER: U. S. Bank National Association: (31-0841368) Expires: 2/20/2015
The company is not debarred according to the Excluded Party Listing System of the Federal Government or prohibited from being awarded a contract according to the Auditor of State Unresolved Findings for Recovery Certified Search.
1. Amount of additional funds: Total amount of additional funds needed for this contract modification is ADD $30,000.00. Total contract amount including this modification is $145,000.00.
2. Reason additional funds were not foreseen: The need for additional funds was unknown at the time of the initial contract. A new e-lockbox contract with JP Morgan Chase Bank is in process and will be effective on August 1, 2014, as the service was bid with the 2013 City Treasurer Banking Services bids.
3. Reason other procurement processes not used: Work under this modification is a continuation of services included in the sco...
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