HomeMy WebLinkAboutM-89-0815:DM
Honorable Mayor and Members
of the City Commission
Cesar H. Odio
City Manager
RECOMMENDATION:
BACKGROUND:
I
CITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
DATE:
SUBJECT:
REFERENCES:
ENCLOSURES:
September 30, 1989
Agenda Item -
City Banking Services
CA -14
FILE:
It is respectfully recommended that the attached resolution
accepting the proposal of Sunbank /Miami, N.A. for the provision
of banking services for a three year period such compensation for
services to be paid by the City maintaining uninvested moneys on
deposit during the contract term in amounts derived from the
actual volume of services performed and the interest rate of
newly issued treasury bills; further authorizing the City Manager
to execute a contract with said bank in accordance with the terms
and conditions of the submitted proposal.
City Code 18 -2 authorizes the Finance Director to advertise and
distribute a Request for Proposals for Banking Services. This
was done on September 8, 1989. A selection committee was
appointed as follows:
Tim Murphy representing Dann Lynn appointed by Mayor Suarez (1)
Manuel Alonso Poch appointed by Vice -Mayor De Yurre
Father Kenneth Majors appointed by Commissioner Dawkins (2)
Julius Jackson appointed by Commissioner Range
Howard Gary appointed by Commissioner Plummer
(1) Resigned due to a conflict of interest related to Barnett
Bank.
(2) Unable to contact him and notify of meeting.
Agenda Item -- City Banking Services
Page 2
I. Proposing banks were required to comply with the following:
1. Qualified by State of Florida as a Certified
' Depository.
2. Located in the City of Miami limits.
3. Member of the Federal Reserve system.
4. Authorized by the Federal Reserve to originate direct
deposit.
II. Information requested of responding bank, in addition to
the price quotation for services to be provided, included
the following:
1. Provisions for compliance with the City's minority
procurement ordinance, including the bank's affirmative
action plan and employment statistics.
2. Evidence of compliance with the Federal Community
Reinvestment Act, including documentation of type of
investments in low income areas.
3. Evidence of participation in City sponsored projects,
such as Southeast Overtown /,Parkwest Redevelopment
Project and the Bayside Minority Business Program.
4. Willingness and capability to meet the City's service
requirements.
III. Proposals were received from the following banks:
Southeast Bank
Barnett Bank
SunBank /Miami, N.A.
Agenda Item — City Banking Services
Page 3
VI. The following recommendation was made by the Selection
Committee:
SunBank /Miami, N.A. was selected as the first choice of the
committee for servicing of all four accounts. (Main Depository
Account, Main Operating Account, Payroll Account and Workers'
Compensation Account) and all other requested services. This
recommendation was based upon having the best overall proposal
that met all the criteria as defined in the Request for Proposal.
The final ranking of the proposals was as follows:
/mc
BANK
1. SunBank /Miami, N.A.
2. Barnett Bank
3. Southeast Bank