HomeMy WebLinkAbout08/18/2010 5K DATE SUBMITTED: 07/20/2010
AGENDA BILL ,
CITY OF BREMERTON
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CITY COUNCIL
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SUBJECT: Contract Extension with Bank Committee Meeting Date: August 11, 2010
of America for Primary Banking Services COLJNCIL MEETING Date: August 18, 2010
Department: Financial Services
Presenter: Cathy Johnson
Phone: 473-5296
SUMMARY: The city entered into a three year contract with Bank of America for primary banking
services effective July 1, 2006. The city exercised an optional one year extension per the terms of the
original contract in 2009. The Bank has offered a second one year extension under the same terms
and conditions as the original contract. The Bank has provided excellent service to the City over the
course of the existing contract. Due to reduced resources in the Financial Services Department it is
currently not feasible to advertise a request for proposals. It is the recommendation of Financial
Services that the City enter into a one year contract extension with Bank of America for banking
services as proposed by the bank. �
ATTACHMENTS: Agreement for Banking Services
FISCAL IMPACTS (Include Budgeted Amount): Fee-based contract with funding included in the
FY2010 Financial Services budget.
APPROVALS:
DEPARTMENT DIRECTOR:
CITY ATTORNEY:
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FINANCE DIRECTOR:
MAYOR:
COMMITTEE CHAIR �, �'_
COUNCIL PRESIDENT: CONSENT AGENDA
GENERAL BUSINESS ❑
PUBLIC HEARING ❑
RECOMMENDED MOTION:
Move to approve the contract extension to Bank of America for primary banking services for a term of
one year and authorize the Mayor to finalize and execute the agreement with substantially the same
terms and conditions as presented.
COUNCIL ACTION: Approve ❑ Deny ❑ Table ❑ Continue ❑ No Action