HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM
eo i File ID: #6788
v
Date: 11/04/2019 Requesting Department: Department of
Finance
Commission Meeting Date: 12/12/2019 Sponsored By:
District Impacted: All
Type: Resolution
Subject: Accept Assignment - Remitco
Purpose of Item:
A resolution of the Miami City Commission, with attachment(s), authorizing the City
Manager to execute a Consent to Assignment agreement for Lockbox Services in
substantially the attached form with REMITCO LLC
Background of Item:
REMITCO LLC is the current provider of lockbox services, as a subcontractor to Wells
Fargo. Effective December 31, 2019, REMITCO will no longer have a contract with
Wells Fargo; leaving the City the option of continuing services with REMITCO or
transferring services over to Wells Fargo. Due to the technical requirements to transfer
service, as well as the need to ensure services are not interrupted for the customers,
the Consent to Assignment must be signed.
Budqet Impact Analvsis
Item is NOT Related to Revenue
Item is an Expenditure
Item is NOT funded by Bonds
Total Fiscal Impact:
N/A
Reviewed By
Department of Finance Erica T Paschal
Office of Management and Budget Donovan Dawson
Office of Management and Budget Christopher M Rose
Department of Procurement
Annie Perez
City Manager's Office
Sandra Bridgeman
City Manager's Office
Nikolas Pascual
Legislative Division
Valentin J Alvarez
Office of the City Attorney
Valentin J Alvarez
City Commission
Maricarmen Lopez
Office of the City Attorney
Victoria Mendez
Office of the Mayor
Mayor's Office
Office of the City Clerk
City Clerk's Office
Office of the City Clerk
City Clerk's Office
Department Head Review
Completed
11/18/2019 10:55
AM
Budget Analyst Review
Completed
11/27/2019 2:07
PM
Budget Review
Completed
12/02/2019 1:15
PM
Procurement Review
Completed
12/02/2019 6:02
PM
Assistant City Manager Review
Completed
12/03/2019 1:58
PM
City Manager Review
Completed
12/03/2019 2:06
PM
Legislative Division Review
Completed
12/03/2019 3:16
PM
Deputy City Attorney Review
Skipped
12/03/2019 3:19
PM
Meeting
Completed
12/12/2019 9:00
AM
Approved Form and Correctness
Completed
12/20/2019 3:42
PM
Unsigned by the Mayor
Completed
12/23/2019 5:48
PM
Signed and Attested by the City Clerk
Completed
12/23/2019 5:49
PM
Rendered
Completed
12/23/2019 5:49
PM
File Number: 6788
City of Miami
Legislation
Resolution
Enactment Number: R-19-0491
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
Final Action Date:12/12/2019
A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S),
CONSENTING TO, ACCEPTING, AND APPROVING THE ASSIGNMENT BY WELLS
FARGO BANK, N.A. ("WELLS FARGO" AND "ASSIGNOR") TO ITS CURRENT
SUBCONTRACTOR REMITCO LLC ("REMITCO" AND "PROVIDER/ASSIGNEE") FOR
PROCESSING REMITTANCES UNDER THE RETAIL IMAGE LOCKBOX SERVICE
AGREEMENT ("LOCKBOX AGREEMENT") BETWEEN THE CITY OF MIAMI, A
MUNICIPAL CORPORATION OF THE STATE OF FLORIDA ("CITY" AND
"CUSTOMER"), AND WELLS FARGO; AUTHORIZING THE CITY MANAGER TO
NEGOTIATE AND EXECUTE A CONSENT TO ASSIGNMENT AND ASSUMPTION OF
THE LOCKBOX AGREEMENT, IN A FORM ACCEPTABLE TO THE CITY ATTORNEY,
TO INCORPORATE REMTICO AS THE NEW COMPANY TO PROVIDE CONTINUING
RETAIL IMAGE LOCKBOX SERVICE ("SERVICE(S)") TO THE CITY UNDER THE
LOCKBOX AGREEMENT PURSUANT TO SECTION 18-85 OF THE CODE OF THE
CITY OF MIAMI, AS AMENDED ("CITY CODE") AS AUTHORIZED BY CITY
COMMISSION RESOLUTION NO. R-07-0648, ADOPTED NOVEMBER 9, 2007, FOR
MONTH-TO-MONTH SERVICES ON A PER ITEM SCHEDULE BASIS; FURTHER
AUTHORIZING THE CITY MANAGER TO NEGOTIATE AND EXECUTE ALL OTHER
DOCUMENTS, INCLUDING ANY AMENDMENTS, RENEWALS, EXTENSIONS,
WAIVERS OF NOTICE(S), AND MODIFICATIONS TO THE LOCKBOX AGREEMENT,
SUBJECT TO ALLOCATIONS, APPROPRIATIONS, AND BUDGETARY
APPROVAL(S) HAVING BEEN PREVIOUSLY MADE, AND IN COMPLIANCE WITH
APPLICABLE PROVISIONS OF THE CITY CODE, INCLUDING THE CITY'S
PROCUREMENT ORDINANCE, ANTI -DEFICIENCY ACT, AND FINANCIAL
INTEGRITY PRINCIPLES, ALL AS SET FORTH IN CHAPTER 18 OF THE CITY
CODE, ALL IN A FORM ACCEPTABLE TO THE CITY ATTORNEY, AND IN
COMPLIANCE WITH APPLICABLE REGULATIONS, AS MAY BE NECESSARY FOR
SAID PURPOSE.
WHEREAS, the City of Miami ("City") and Wells Fargo Bank, N.A. ("Wells Fargo" and
"Assignor") are parties to a Retail Image Lockbox Service Agreement ("Lockbox Agreement")
pursuant to which Wells Fargo provides its Retail Image Lockbox Service ("Service(s)") to the
City; and
WHEREAS, under the Lockbox Agreement, Wells Fargo processes checks, and other
instruments submitted in payment of obligations to the City ("Remittances"), received at a post
office box maintained on the City's behalf ("Lockbox"), and Remitco, LLC ("Remitco" and
"Provider/Assignee") is currently Wells Fargo's subcontractor for processing Remittances for the
City under the Lockbox Agreement, on each Business Day; and
WHEREAS, Wells Fargo and Remitco entered into an Asset Purchase Agreement,
dated March 19, 2019 ("APA"), pursuant to which Wells Fargo as Assignor has agreed to assign
its customer contracts, including the Lockbox Agreement with the City, to Remitco as
Provider/Assignee for the provision of the continued Retail Image Lockbox Service
("Service(s)"); and
WHEREAS Wells Fargo and Remitco have requested the City's consent to, and
acceptance and approval of the assignment of the Lockbox Agreement from Wells Fargo to
Remitco and the assumption of such obligations by Remitco to continue to provide the Service
to the City; and
WHEREAS, pursuant to Section 18-85 of the City Code, as authorized by City
Commission Resolution No. R-07-0648, adopted November 9, 2007, for month-to-month
Service on a per item schedule basis, by Remitco as Provider under the Lockbox Agreement for
the continuation of Service(s) to the City;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated as if fully set forth in this Section.
Section 2. The City Commission hereby consents to, accepts, and approves the
assignment by Wells Fargo as Assignor to its current subcontractor Remitco as
Provider/Assignee for processing Remittances under the Lockbox Agreement between the City
and Wells Fargo.
Section 3. The City Manager is authorized' to negotiate and execute a consent to
assignment and assumption of the Lockbox Agreement, in a form acceptable to the City
Attorney, to incorporate Remitco as the new company to provide the continuing Service(s) to the
City under the Lockbox Agreement pursuant to Section 18-85 of the City Code, as authorized by
City Commission Resolution No. R-07-0648, adopted November 9, 2007, for month-to-month
Service on a per item schedule basis.
Section 4. The City Manager is further authorized to negotiate and execute all other
documents, including any amendments, renewals, extensions, waivers of notice(s), and
modifications to the Lockbox Agreement, subject to allocations, appropriations, and budgetary
approval(s) having been previously made, and in compliance with applicable provisions of the
City Code, including the City's Procurement Ordinance, Anti -Deficiency Act, and Financial
Integrity Principles, all as set forth in Chapter 18 of the City Code, all in a form acceptable to the
City Attorney, and in compliance with applicable regulations, as may be necessary for said
purpose.
Section 5. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.2
' The herein authorization is further subject to compliance with all requirements that may be imposed by
the City Attorney, including but not limited to, those prescribed by applicable City Charter and City Code
provisions.
2 If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
APPROVED AS TO FORM AND CORRECTNESS:
ria ndez, Cify Attoriey ___) 12/2012019