HomeMy WebLinkAboutCity of Tamarac Resolution R-87-1281
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Introduced by (��j�% Temp. Reso. #4583
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R--87- /v2 S
A RESOLUTION AWARDING A BID FOR THE CITY'S
DEPOSITORY TO CITIZENS & SOUTHERN NATIONAL
BANK;_ AND _PRQVIDING AN EFFECTIVE DATE.
WHEREAS, the City Council authorized the administration
to go to bid at its meeting on February 11, 1987; and
WHEREAS, bids were advertised in the Fort Lauderdale
News/Sun Sentinel, a newspaper of general circulation in
Broward County on February 18, 1987 and February 25, 1987;
and
WHEREAS, bids were opened on March 19, 1987; and
WHEREAS, Citizens & Southern National Bank is the lowest
fully responsive and responsible bidder.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
SECTION 1: That the bid of Citizens & Southern
National Bank in the amount of $7,744.00, with a compensating
cash balance of $143,256.80, is HEREBY APPROVED.
PASSED, ADOPTED AND APPROVED thisaZ,-z day of ,
1987.
Bernard hart
MAYOR -
ATTEST:
Carol E. Barbuto
CITY CLERK
I HEREBY CERTIFY that I have
approved the form and correctness
of his 13eso.1LO;1
A. B gate
CITY TO
MAYOR: HART
1: C/M ROHR
DST. 2: C/M STELZER
GIST. 3: C/M HOFFMAN
❑IST. 4: V/M STEIN --
7� leg
EXHIBIT 2
CITY OF TAMARAC BANKING SERVICES
2MSPLIkATED BID EM
BANK SUBMITTING The Citizens and Southern National Bank
BANK DEPOSITORY ESTIMATED BID CHARGE
ANNUAL SERVICE
SERVICES ANNUAL VOLUME PER ITEM
CHARGES
Account Maintenance
5
10.00
600.UO
Checks Paid:
Accounts Payable
16,300
0.06
978.00
Items Deposited:
other (non lock -box)
10,000
0.05
500.00
Returned Checks
400
1.25
500.00
Stop Payments
10
12.00
120.00
Wire Transfers:
- Incoming
40
6.00
240.00
Outgoing
40
6.p0
240.00
Bank Transfers Between
- Accounts
1,100
0.00
0.00
Daily Telephone Call
252 (12x)
30.00
360.00
Daily Report on
Concentration Account
252
0.00
0.00
Zero Balance & 4 subs
(12x)
46.00
552.00
OTHER BANKING SERVICES.
Computer Tape - Paid
Checks (provided
monthly)
16,500 (12x)
100.00
1200.00
Checks Sorted by Number
16,200
0.p2
324.00
Repuchase Agreements:
Safekeeping receipts
252 .
0.00
0.00
Investments
252 (124
100.00
1200.00
Armored Car Service in
days
252
NO BID
_ Account Direct Deposit
payroll and other
91000
0.06
540.00
ACH Direct Deposit Tape
26
15.00
39u.uu
_ ACH Direct Deposit Tape
26
Total
Bid 7744.00
Average Monthly Amount (Total Bid _ 12)
$ 645.33
Balance Required to Support $1.00 of
Services (Exhibit 2-A)
S 221.99
Required Monthly Compensating Balance
$143,256.80
Minimum amounts required
for repurchase
agreement:
' Initial
Increment
Open 100,000.00
$1,000.00
Variance ( + or --)
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