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HomeMy WebLinkAbout117 - 10/18/2005 - AUTHORIZING THE EXTENSION OF THE BANKING AND DEPOSITORY SERVICES AGREEMENT WITH FIRST NATIONAL BANK ORDINANCE NO. 117, 2005 OF THE COUNCIL OF THE CITY OF FORT COLLINS AUTHORIZING THE EXTENSION OF THE BANKING AND DEPOSITORY SERVICES AGREEMENT WITH FIRST NATIONAL BANK FOR THE YEAR 2006 WHEREAS, the First National Bank of Fort Collins was selected by a competitive process in 2000 to provide depository and banking services; and WHEREAS, the City has contracted with the First National Bank of Fort Collins for the last five years; and WHEREAS, recent changes in the Finance Department have made it extremely difficult to complete another competitive process for depository and banking services prior to the expiration of the current contract on December 31, 2005; and WHEREAS, the City desires to extend the term of the agreement for an additional year to allow sufficient time and resources to complete a competitive process in 2006; and WHEREAS, First National Bank of Fort Collins has agreed to provide services for 2006 at the same cost for service as 2005 with the exception of processing lockbox services which will increase from $0.14 to $0.145 per item, an annual increase of approximately $3,000; and WHEREAS, the cost of this contract for 2006 will be approximately $250,000, depending on the number of transactions processed; and WHEREAS, pursuant to Section 8-161(d)(1)(b) of the City Code, the Purchasing Agent has determined that, because of the time and resources required to complete a competitive process before the end of 2005, a competitive process cannot reasonably be used and, if used, would result in substantially higher cost to the city and may result in the impairment of the city's delivery of services to the public, and the Purchasing Agent has submitted the requisite justification for this determination to the City Manager for approval; and WHEREAS, the City Manager has reviewed and approved the justification for this contract extension; and WHEREAS, Section 8-161(d)(3) requires approval of this purchasing method by the City Council for purchases over$100,000; and WHEREAS, Section 8-186(a) requires all contracts in excess of five years be approved by ordinance; NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS that the Purchasing Agent is hereby authorized to enter into an extension of the banking services contract with the First National Bank of Fort Collins for the year 2006, as an exception to the competitive purchasing process. Introduced, considered favorably on first reading, and ordered published this 4th day of October, A.D., 2005, and to be presented for final passage on the 18th day of October, A.D. 2005. Mayo ATTEST: L" City Clerk Passed and adopted on final reading this 18th day of Octo D. 2005. Mayo ATTEST: City Clerk