HomeMy WebLinkAbout06-114
DATE SUBMITTED: 5-17-06
BILL
AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
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SUBJECT: Contract Award to Bank of
America for Primary Banking Services
Committee Meeting Date: 5-17-06
COUNCIL MEETING Date: 5-24-06
Department: Financial Services
Presenter: Cathy Johnson
Phone: 473-5296
SUMMARY: The current banking services contract expires on June 30, 2006. A request for
proposals was advertised, inviting all banks with a presence in the City of Bremerton to respond.
There were a total of five responses to the request. Each response was scored on weighted scale. The
criteria and weighting factors used are as follows: (a) responsiveness to the request (10%), (b) ability
and history of successfully completing contracts of this type and capability of providing internet based
services (40%) and (c) price (50%). At the conclusion of the review and compilation ofthe scores
Bank of America scored the highest. It is the recommendation of Financial Services that the City
enter into a three year contract with Bank of America for banking services per the terms and
conditions as specified in their proposal.
ATTACHMENTS: Bid Tabulation Sheet
FISCAL IMPACTS (Include Budgeted Amount): Fee-based contract with funding included in
FY2006 budget.
APPROVALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
FINANCE DIRECTOR:
MAYOR:
CONSENT AGENDA ~
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FISCAL/BUDGET:
OPERATIONS:
COUNCIL PRESIDENT:
RECOMMENDED MOTION:
Move to approve the contract award to Bank of America for primary banking services for a
term of three years and authorize the Mayor to finalize and execute the contract in substantially
the same form as presented.
COUNCIL ACTION: Lrove
D Deny D Table
D Continue D No Action