HomeMy WebLinkAboutRESPONSE - RFP - P 772 (3)City of Fort Collins
Admirusaative Services
Purchasing Division
CITY OF FORT COLLINS
REQUEST FOR PROPOSAL
BANKING SERVICES
PROPOSAL NO. P-772
PROPOSAL DATE: 3:00 P.M. (our clock) September 20, 2000
256 W. Mountain Avenue • P.O. Box 580 • Fort Collins, CO 80522-0580 • (970) 221-6775 • FAX (970) 221-6707
1. Title Page
2. Table of Contents
3. Executive Summary
4. Responses to the "Minimum Requirements"
5. Responses to the "General Requirements and Specifications"
6. Responses to the Response Items for Accounts and Services
7. Responses to the "Additional or Future Services and Enhancements"
8. Account Analysis Form
9. Signed Copy of the Proposal Certification Form (Attachment A)
10. Completed Service Pricing Schedule
11. Appendices
The City has created a proposal checklist (Attachment C) to guide banks in the proposal
preparation. Failure to include all items listed on the checklist may result in the disqualification
of the proposal.
Implied Requirements
Products and services that are not specifically requested in the RFP, but are necessary to
provide the functional capabilities offered by the bank, shall be included in the proposal
Required Items
Included in the sealed proposal package, but not bound with the proposal, each bank must
include a Transmittal Letter. This letter should briefly state the bank's understanding of the work
to be accomplished, provide a commitment to perform the work, and indicate the proposal is
firm and irrevocable for the period of the contract. It should also identify all materials and
enclosures included in the response to the RFP.
Each bank must submit copies of its three (3) most recent audited financial statements in the
sealed proposal package, but should not bind the statements with the proposal document.
Exceptions to the Prescribed Format
In prescribing the format for proposals, the City desires to make the responses from the banks
consistent and comparable. The City recognizes that banks may vary in their approach and
processes to providing the required services. Proposals that deviate significantly to the required
format may be rejected. All requested information must be submitted, or if not, an explanatory
statement summarizing the bank's reasons for not submitting the requested information must be
provided.
Proposal Term
All proposals must be valid for 180 calendar days from the required submittal date
Pr000sal Evaluation and Selection
General Evaluation Guidelines
Opening Time and Date: Purchasing staff will open proposals on September 20, 2000, at 3:00
p.m. Mountain Daylight Savings Time, at the Purchasing Division Officer located at 256 W.
Mountain Avenue, Fort Collins, Colorado.
Public Record Disclaimer: Under the Colorado Open Records Act, all information in the
proposals is a public record and will be available for inspection upon completion of contract
negotiations and award. Only the names of the banks submitting proposals will be released
prior to the completion of contract negotiations and award.
The City's proposal evaluation team will read and evaluate all proposals submitted. The
evaluation team will include the Director of Purchasing, the Financial Officer, the Assistant
Finance Director, the Finance Department Financial Analyst, and other City staff members.
Use of Pre -determined Criteria: The evaluation team will use the City's standard evaluation
criteria, modified slightly for banking services. The Director of Purchasing and the Financial
Officer may eliminate proposals that are clearly non -responsive to the stated requirements.
Throughout the evaluation and selection process, the Director of Purchasing and Financial
Officer reserve the right, in the best interest of the City, to request additional information or
clarification from the banks, or allow corrections of errors or omissions. At the discretion of the
City, banks may be requested to make oral presentations as part of the evaluation process.
After proposals are opened, banks may not amend or clarify submitted proposals unless the
Director of Purchasing and Financial Officer request such information.
The selection will be made on the basis of the one being the most advantageous to the City,
price and other factors considered. Lowest cost may not indicate the highest ranked candidate.
Cost is only one of several evaluation criteria.
Under the Charter and Code of the City of Fort Collins, the selection by the evaluation team is
not subject to Council approval.
Criteria for Evaluation of Proposals
The evaluation team will use the following criteria to judge and score the written proposals and,
if necessary, for interviews.
The rating scale shall be from 1 to 5, with 1 being the lowest score, 3 being an average rating,
and 5 being an outstanding rating.
WEIGHTIN
QUALIFICATION
STANDARD
G
FACTOR
3.0
Cost
Fees and Compensation The proposal that provides
the banking services at the lowest total cost to the City.
The total cost for the requested banking services will be
determined using the attached Pricing Schedule
(Attachment B)
2.5
Understanding City
Degree to which the proposal and supporting materials
Needs
demonstrate that the bank understands the City's
needs and operational requirements. Quality and
scope of the conversion implementation plan.
1.5
Financial Strength
Evaluation of key financial ratios and financial position
provided by independent rating services.
2.0
Scope of Services
Scope of Banking Services. The availability and quality
of services proposed by the bank. Includes the value
of any new product or service suggestions or other new
ideas and enhancements.
1.0
Experience
The experience, resources, and qualifications of the
bank and individuals assigned to the City's account.
Relevant experience managing similar relationships
with public sector clients..
At the option of the City, interviews and site visits may be conducted with some or all of
the banks responding to this Request for Proposal. The final selection will be based on an
evaluation of all of the information submitted and the City's determinations that the
proposal will best serve the City's needs.
Performance Standard
In their proposals, banks should strive to meet or exceed the standards of performance provided
in this RFP. The evaluation team retains the SOLE responsibility to determine the extent to
which proposals meet or exceed the standards of the City.
10
Acceptance of Proposal Content
Upon selection by the City, the contents of the proposal become contractual obligations. If the
selected bank does not accept these obligations, the City may cancel this award and disqualify
the proposing bank from future solicitations. Should this occur, the City reserves the right to
award this RFP to the bank with the next highest rank.
The City shall have the right to use any ideas contained in any proposal from any bank that has
submitted a proposal in response to the RFP. Selection or rejection shall not affect this right.
Contract Negotiation
If necessary, the City shall have the right to negotiate with one or more of the banks that
respond to this RFP or the successful bank. The content of the RFP and the selected bank,
including the scope of services, will become an integral part of the Contract, but may modified
by the Contract.
By responding to this RFP, the bank acknowledges the willingness to include, in the Contract,
any information provided in response to this RFP.
A proposal in response to this RFP is an offer to contract with the City based on the terms,
conditions, scope of work, and specifications contained in the RFP. The City's Standard
Services Agreement is attached as Attachment G. The City expects that both parties will
execute the contract prior to the commencement of banking services on January 1, 2001.
During the period between the award and the completion of the Contract, this RFP, in
conjunction with the accepted proposal, will constitute, unless otherwise negotiated, a legal
binding contract between the City and the selected bank.
If the selected bank fails to sign and return a contract in substantial comoliance with tho or❑
and proposal within 15 days after completion of the contract docum
negotiating the contract documents, or otherwise fails to complete the tray
have the right to recover all expenses incurred in reliance upon tht
reasonable attorney's fees.
If the selected bank fails to sign and return the contract documents within�4 ;
receipt thereof, the City may annul the award. The City may then alternate,eta
the next highest ranked bank. The City also retains the right not to rr
award.
According to the Contract, the City may terminate the Contract upon 90 c r
notice. C
The selected bank shall waive all rights to security interests and right.
deposits.
The City retains the specific power and authority to require the selected b `�,�„
information the City may request or demand concerning the portion of deposits which are issued
by the Federal Deposit Insurance Corporation, the amounts of the bank's capital funds, and the
11
nature, amount, market value, and location of the eligible collateral maintained or pledged by it
to secure City deposits.
Term of Contract
The City is seeking a contract for a period of one year, with the option to renew four additional
one-year periods. In order to determine the maximum cost of the banking services contract, the
City will evaluate each proposal based on the entire contract cost over five years. Therefore,
specific annual costs must be given for each of the five years. Please note that Attachment A
requires a total dollar cost for each of the five years.
Commencement of Services
The City expects that banking services selected through this RFP process shall commence on
or before January 1, 2001.
12
Section 4. General Requirements and Specifications
Qualifications and Experience
Describe the bank's size and location of primary site and service site, size of staff, staff
designated for the City's account, and staff designated for the transition
Identify key measures of the bank's financial strength, for example, capital ratios, market
capitalization, total assets.
Provide ratings for the bank and bank holding company from two of the following agencies:
Standard & Poor's, Moody's, Thomson Bank Watch, Sheshunoff, VERIBANC, or Lace.
Provide Proof of Compliance with the Colorado Public Depository Act (PDPA).
Provide contact names and addresses from three other public entities with service demands
similar in size and scope as Fort Collins.
Collateralization Provisions
Copy of PDPA designation and Certificate of Eligible Public Depository
Explain how funds over $100,000 will be collateralized
Conversion Considerations
The Bank is to assist the City with conversion and compensate the City for any and all
costs associated with banking services changes. Describe the Bank's proposal for conversion.
Provide a detailed description of any assistance the Bank would provide to the City during the
conversion process.
Banks submitting proposals should describe how they would compensate the City if the
award of this RFP results in a bank change for the City. The description should be specific in
addressing items such as:
• Collection and replacement of all old forms, check stock, deposit slips, bank bags,
endorsements stamps, VISA, MasterCard equipment, etc.
• Coordination of computer and computer system compatibility
• Customer service assistance during the conversion period
• Customer service assistance after the conversion period
• Reimbursement for City staff time or temporary employees required to convert
services to the new bank
• Reprogramming and revisions of the City's financial systems if required
Itemize all estimated costs associated with the issues immediately above. Describe how
the bank would compensate the City for the cost of conversion if selected.
Banking Supplies and Forms
The Bank will provide supplies and forms for services used by the City
Include a List of all supplies and forms to be used to provide the services
Costs to the City must be itemized and included on the Pricing Schedule
13
Report Formats
Samples of current reports in the Attachments
All proposing banks must include sample reports
Additional or Specific Response Items Related to General Requirements and Specifications
How will the bank remain aware of and in compliance with federal and state
requirements
List any known or anticipated banking structure changes for the Corporate, Primary, and
Local offices for the next five years.
List any known or anticipated banking structure changes for the banking industry in
general for the next five years. Please be specific.
List all recent or anticipated merger, acquisition, or charter change to the Bank that could
affect the City in the next five years. Please be specific.
Describe the type of insurance policy the bank carries on held funds and funds in transit.
State the name of the insurance provider.
Describe how the Bank addressed the Y2K situation. Describe how if any of these
issues or other system conversion issues would be able to assist the City of Fort Collins
in reprogramming or improving its internal financial systems.
Please explain how the daily sweep of excess funds are invested. Do you have an agreement
with a Local Government Investment Pool for this purpose?
Emergency Services and Disaster Recovery
Describe the bank's disaster recovery plan in detail.
When was the plan last updated? Tested?
What is the location of the off -site facilities?
How quickly can the off -site facilities be activated in case of an
Has the emergency services and disaster recovery plan bee
disaster? Please provide a narrative describing the situation.
What is the contingency if the regular disaster back-up site is
work from being processed on a same day basis? Does the
event of a loss?
emergency?
n implemented for a real
unavailable and prevents
bank compensate in the
14
Section 5. Description of Current Accounts and Services being provided to the Cl y
Overview of Current Banking Services
First National Bank of Fort Collins is the current provider of banking services for the City. The
current banking relationship includes the following accounts and services (detailed descriptions
provided below):
1. Item processing (credits and debits: including cash/ check clearing, Automated Clearing
House deposits — ACHs and Electronic Funds Transfers — EFTs).
2. Receipt/disbursement accounts and safety deposit boxes.
3. Out -going and incoming wire services.
4. Lock -box processing for utility payments and sales and use tax payments.
5. Daily armored car courier service.
6. Visa/ Mastercard receipt processing.
7. Daily account sweep and transfers via telephone.
8. Account statements, reports and account analysis.
1. Item processing:
a. Receipts
Deposits are collected from several City locations and taken to the bank where they are
credited to the City's checking account. The bank also credits payments received from
customer utility bills and sales tax receipts through a lock -box arrangement with the City.
The bank collects payments on behalf of the City in the form of cash, check, credit card,
account transfer, wire transfer, EFT and ACH.
Average monthly transaction detail:
Number of items processed: 51,971
b. Disbursements
The City processes its general payroll every two weeks and its pension payroll monthly.
City employees have the option of receiving their payroll in the form of a physical
paycheck or a direct deposit. For direct deposit, the City provides the bank with a file
containing all account information, and the bank handles the transfer.
Average monthly transaction detail:
Number of physical paychecks: 1,750
Number of direct deposits 2,750
Tax payments (EFT): 8
The City processes its accounts payable
each week.
Average monthly transaction detail
Number of checks processed:
2. Accounts and Safety Deposit Boxes
Money market interest account
checks regularly on Monday and Thursday of
2,900
15
Primary depository account for utility payment receipts, sales tax receipts and customer
deposits/payments. This account is swept to a zero balance each morning into a local
government investment pool.
b. Payroll account
Disbursement account used for bi-weekly and monthly payroll.
c. Accounts payable account
Disbursement account used for all accounts payable checks, EFT, wires and ACH
withdrawals.
d. Additional special accounts
1. Self insurance account (payment of claims)
2. HOME program account (receipt of federal grant draws)
3. Credit card clearing account (receipt of credit card payments)
4. CDBG account (receipt of program income, grant draws, etc.)
5. Check clearing fund (receipts with insufficient funds, closed accounts, are debited from
this account)
6. Utility Funds' mini -checking account (low balance, low transaction account used by the
City's utility funds for misc. payments)
e. Safety deposit boxes
Three large (3" by 6" by 12") boxes are required for use by the City.
3. Wire services
The City uses the fed wire system as a primary form of payment distribution. Both incoming
and outgoing wires are handled by the City's primary banking relationship.
Average monthly transaction detail:
Outgoing wires: 33
Incoming wires: 10
4. Lock box processing
The City has a lock box arrangement with its current bank. Items are processed centrally at
the primary bank location and credited directly to the City's account.
Average monthly transaction detail:
Utility lock box payments: 36,932
Sales/ Use tax lock box payments: 3,000
5. Armored car courier service
The City's current banking services includes an armored car courier service that picks up
deposits and receipts on a daily basis. The deposits
credited to the City's account. A duplicate copy of the
cashiering department.
Average monthly transaction detail:
Number of City locations requiring service:
Number of courier pickups per month:
are taken directly to the bank and
deposit ticket is taken to the City's
22
320
Visa/Mastercard receipt processing
Currently, all Visa and Mastercard receipts collected by the City are forwarded to the bank
for processing. The bank handles all customer questions and complaints. When a City
16
location requests the ability to accept Visa or Mastercard the bank provides the hardware (at
an agreed upon price) and completes the set up for the location.
Average monthly transaction detail
Number of City locations accepting Visa/MC:
13
Number of monthly EDC transactions:
5,385
Average dollar amount of EDC transactions:
293,512
Number of monthly paper capture trans:
97
Average dollar amount of paper transactions:
5,436
7. Daily account sweep and transfers
Each morning prior to 8:00 a.m. the bank account manager telephones the City and
provides account balances for four primary accounts. The City directs the transfers from its
receipt account to cover outflows from its disbursement accounts. The receipt account is
swept to a zero balance each morning using a local government investment pool.
8. Account statements, reports, and account analysis
The bank provides:
• Detailed account statements (hardcopy reports and data files) - Monthly
• Detailed account analysis - Monthly
• CD-ROM containing images of cleared checks- Weekly
• Credit card merchant statement - Monthly
• Faxed copies of ACH returns — as needed
The bank calculates all costs for services that are off -set by an earnings credit from
compensating accounting balances. The account analysis statement depicts costs that are
directly related to the number of transactions (for example, lock box processing, credit card
processing, etc.
Account Activity and Services
An Example of the Account Analysis Statement is provided in Attachment F.
Please call Purchasing, (970) 221-6775 to request this attachment.
17
Request for Proposals Table of Contents
Description
Page
Cover Page
Table of Contents
1
Request for Proposals Letter
1-2
Section 1. Introduction and Information about the City
and the Finance Department
3-6
Section 2. Proposal Submittal Instructions
7-8
Section 3. Evaluation of Proposals
9 - 12
Section 4. General Requirements and Specifications
13 - 14
Section 5. Description of Current Accounts and Services being
provided to the City
15 - 17
Section 6. Response Items for Accounts and Services
18 - 19
Section 7. Future Services and Enhancements
20 - 21
Attachments
22
A. Certification by Institutions Responding to the Request for Proposals
23
B. Service Pricing Form
25 - 25
C. Proposal Preparation Checklist
26
D. Armored Car Courier Service Stops
28 - 29
E. City of Fort Collins Finance Department Investment Policies
1 - 9
F. Sample Account Analysis -Current Bank Monthly Summary-
1
Please call Purchasing, (970) 221-6775 to request this attachment
G. City of Fort Collins Standard Services Agreement (sample)
1 - 6
Exhibit B
1
1
Describe how the bank will provide check cashing services for City employees with City checks
who do not have an account with the bank.
Indicate the cost of accounts for new City employees using direct deposit or for current
employees who change to direct deposit.
Describe how the bank will use Electronic Data Interchange, Electronic Funds Interchange or
other technological methods to pay City invoices.
Describe the armored car service to the City according to the schedule provided at Attachment
D. Include all costs and describe how this service would operate. If unable to provide this
service, explicitly describe an alternative arrangement.
Please address the following daily cash management and investment issues
Time of daily cash settlement
Time incoming wires must be received by the bank to be included in the daily balance
How the overnight repurchase agreement is calculated
Method and formula for calculating the overnight repurchase agreement interest rate
Amount of minimum balance required for overnight repurchase agreement
Minimum balance for accounts
Method used for handling daylight overdrafts
How and when the bank will notify the City when an account on the direct deposit tape is
closed
Requirements for notification of cancellation of direct deposits, both before and after the
tape is processed by the City and provided to the Bank
Describe the time variance between processing the direct deposit tape by the Bank and
the official release date of funds
uf.7i
The Bank Administration Institute has established quality indicators for services contemplated in
this Request for Proposal. Does your bank measure performance using these indicators? If so,
please indicate the measurements reported for the most recent Annual BAI survey. If not,
please provide other indicators of the quality of services that your bank would provide to the
City.
Implementation
Provide a copy of all documents the bank will require to implement the services that it would
provide to the City.
Provide a detailed description of the implementation process, including testing, and a sample
implementation schedule.
What is the average lead time required for implementation? What are the critical factors that
may impact the lead time?
Describe the training the bank will provide for the implementation, including materials to be
supplied by the bank or required of the City.
W'
KggtVTitAN1T1M -_1T117rT_.=-4=M - u • 1
The following are examples of areas that a bank could provide service enhancements. The list
is intended to be illustrative, not limiting.
Credit Cards and Procurement Cards.
The current bank provides a limited number of credit cards for a limited number of
employees. The City uses LaSalle Bank of Chicago to provide procurement cards to
City employees.
City of Fort Collins Employee Combination Identification and Debit Cards
Some banks provide integrated identification card -debit cards to employees of their
clients. The card could be used for City sponsored training, other events and a limited
set of supplies. The I.D. debit cards could also be used to buy materials from vending
machines. Provide an estimate of costs for such a service. Identify any relevant
expertise in provide all-purpose I.D. cards that include debt card capability. Does the
bank provide such service for other institutions?
Additional Services at City Locations
The City is interested in the bank's ability to provide banking services to specific City
locations that may benefit City customers and employees. For example, a bank may be
willing to set up a limited banking services site at City locations that have high service
demands. Another example would be providing Automated Teller Machines at certain
sites.
Short-term Financing
From time to time, the City may need to have short-term, emergency financing available.
Please indicate the bank's willingness to have such "on -demand" short-term financing
service. Please explain the minimum and maximum amount and term of the financing.
Please indicate the procedure and time frame to arrange such financing.
Small Scale Financing
Occasionally, the City or its component units need to conduct short-term borrowings.
Please indicate the bank's interest in participating in small, short-term borrowings. The
City would like to know how competitive the bank could be in such situations.
Bond Issues and Lease -Purchase Transactions
The City is a regular issuer of long-term bonds and lease -purchase transactions. Please
indicate if the bank has the capability, interest, and competitiveness to bid on such
transactions. Does the bank have the experience and capability to provide financial
advisor for competitive sale bond issues?
F7
Training Programs for City Employees
Many of the City's employees have an interest in investing, economics, finance, and
banking. Please describe any training or educational programs the bank may provide to
employees of their clients. Please indicate the banks level of interest in partnering with
the City to provide such a program for its employees.
Technological Advances
The City is interested in technological advances that the bank has to offer. Please
identify areas of technology in which that the bank is proficient. The City is continuously
seeking methods to use technology to improve productivity and enhance customer
service.
Other Enhancements
The City is continuously striving to keep up with advances in the finance and banking
fields. Please indicate any other services or capabilities that your institution believes
would be beneficial to the City of Fort Collins. The Finance Department is always
interested in suggestions to improve the way it conducts its financial procedures and
affairs. Practical suggestions may or may not be considered in the evaluation of the
proposal.
21
Attachments
A. Certification by Institutions Responding to the Request for Proposals
B. Service Pricing Form
C. Proposal Preparation Checklist
D. Armored Car Courier Service Stops
E. City of Fort Collins Finance Department Investment Policies
F. Sample Account Analysis — Current Bank Monthly Summary
Please call Purchasing, (970) 221-6775 to request this attachment
G. City of Fort Collins Standard Services Agreement
22
ATTACHMENT A
City of Fort Collins
Request for ProposalP-772
Banking Services
Proposal Certification
The undersigned hereby affirms that:
1. He or she is a duly authorized agent of the Bank issuing this proposal and that all
information provided in the proposal is true and accurate;
2. He or she has read the conditions and specifications that have been made available to
the bank in conjunction with this RFP and fully understand and accepts these terms
unless specific variations have been expressly listed in the bank's proposal;
3. The bank will follow and adhere to all terms and conditions and provide, at a minimum,
all services as expressed in the RFP and the bank's proposal responding to the RFP;
4. The bank is qualified as a public depository as required in this RFP or, if not, has
submitted a Justification for Consideration addressing any failure to meet the criteria;
5. The bank's proposal is offered independently of any other proposer and is in full
compliance with the terms specified in the RFP;
6. The bank will accept any awards made to it, contingent on contract negotiation, as a
result of this RFP for a minimum of ninety (90) calendar days following the date and time
of the bid opening; and
7. If awarded a contract, the bank warrants that it will not delegate or subcontract it's
responsibilities without the express prior written permission of the City of Fort Collins.
Signature of Bank
Name of Official (typed):
Title:
Name of Bank:
Date:
Note: Proposals submitted without the manual signature of an authorized agent of the bank
may be considered non -responsive and ineligible for award.
23
PRICING SCHEDULE
Annual Number of Items
Cost per item or
Annual Cost of
Type of Service
or Dollars Processed
Monthly Charges
Service
A. Depository Services
Demand Accounts & Activity
Interest -bearing demand accounts
7
Non -interest bearing demand accts
2
Balance transfers
1,500
Deposits by check (incl. lockbox)
700,000
Payment of vendor checks
45,000
Payment of insurance checks
4,000
Payment of payroll checks
25,000
Check sorting
75,000
Stop payments
400
Returned checks
400
Banking Sunnlies
Visa/MasterCard slips
2,000
Demand account deposit slips
4,000
Currency exchange
120
Cashier's checks
1,000
Traveler's checks
$50,000
Safe deposit boxes (3)
3
Coin wrappers
3,000
Petty cash requests
60
Locking money bags
90
B. Automated Clearing House
Incoming
500
Outgoing (excl. payroll -see below)
120
C. Wire Transfer Services
Incoming domestic
200
Outgoing domestic
500
Incoming international
20
Outgoing international
20
D. Electronic Data Interchange
E. Lock Box Service
Utility payments
500,000
Sale & Use tax payments
40,000
Automated update of payments
540,000
F. Direct Deposit
Payroll (ACH)
40,000
Remittance of FICA & federal tax
120
G. Controlled Disbursement,
Account Reconciliation and
Positive Pay
Account reconciliation
108
Positive pay
75,000
24
PRICING SCHEDULE (cont.)
Annual Number of Items
Cost per item or
Annual Cost of
Type of Service
or Dollars Processed
Monthly Charges
Service
H. Information Reporting
Account statements (hardcopy rpt)
108
Account statements (file)
108
Cleared checks images (CD-ROM)
26
Credit card merchant statements
12
ACH returns (faxed copy)
50
Account analysis
12
I. Banking Treasury
Workstation
2
J. Armored Car Courier
Number of City locations
22
Number of pickups
4,000
K. Credit Card Services
Annual fee for cards issued to City
50
EDC receipts (number / $ amount)
65,000 / $3,500,000
% discount fee on sales of
$1,000,000
Paper receipts (number/ $ amount)
1,200 / $65,000
% discount fee on sales of
$60,000
Equipment costs (EDC/ site)
per site
Equipment costs (manual/ site)
per site
L. Bank Representatives to Work
with City
2
TOTAL ANNUAL COST OF SERVICE for 2001
TOTAL ANNUAL COST OF SERVICE for 2002
TOTAL ANNUAL COST OF SERVICE for 2003
TOTAL ANNUAL COST OF SERVICE for 2004
TOTAL ANNUAL COST OF SERVICE for 2005
TOTAL COST FOR FIVE YEARS
25
ATTACHMENT C
City of Fort Collins Proposal Checklist
Part 1. The Proposal
Title Page
Table of Contents
Executive Summary
Response to Section 4
Response to Section 5
Response to Section 6
Response to Section 7
Account Analysis Form
Samples of Bank Transaction Form, Supplies, and Reports
Executed copy of Proposal Certification Form
Completed copy of Services Pricing Schedule
Appendices
Part 2. Additional Items (not bound with the proposal)
Signed Letter of Transmittal
Justification for Consideration (only for banks that do not meet the minimum
requirements)
Three most recent Financial Statements
Proprietary or confidential information
Please cross-reference such information to the appropriate section of the bound
proposal
The envelope should be clearly marked "confidential' and include the RFP Number
Deliver the six (6) copies of the Proposal so that it will be received by 3 PM on September
20, 2000
26
ATTACHMENT D
City of Fort Collins
Banking Services
Armored Car Courier Service Stops
Facili
Service Frequency
City Finance Department
3 times a week
300 Laporte Avenue
Customer Information Services
10 times a week
330 S. College Avenue
Municipal Court Office
5 times a week
College Avenue
Parks & Recreation Office
5 times a week
214 N. Howes
Library
5 times a week
201 Peterson Street
Museum
1 time a week
200 Mathews Street
Friday
Mulberry Pool
5 times a week
424 W. Mulberry
EPIC
5 times a week
1801 Riverside Avenue
Lincoln Center
5 times a week
417 W. Magnolia
Senior Center
5 times a week
Shields
Cemetery
1 time a week
1900 W. Mountain Avenue
Parks Department
1 time a week
Collindale Golf
7 times a week
1441 E. Horsetooth Road
City Park Nine Golf 7 times a week
27
F
411 S. Bryan Street
Southridge Golf
5750 S. Lemay Street
TransFort
6570 Portner Road
Parking Office
210 Olive
Parking Garage
102 Remington Street
Smart Trips
235 Mathews
Building Inspection
281 N. College
Engineering
281 N. College
Various Drop Boxes
Located in the City
7 times a week
1 time a week
5 times a week
5 times a week
1 time a week
5 times a week
5 times a week
5 times a week
28
REQUEST FOR PROPOSAL
CITY OF FORT COLLINS
BANKING SERVICES
PROPOSAL NO. P-772
The City of Fort Collins is requesting proposals from banks qualified under Colorado Revised
Statutes to provide banking services for municipal governments.
Written proposals, six (6) will be received at the Office of Purchasing & Risk Management, P. O.
Box 580, 256 West Mountain Avenue, Fort Collins, Colorado 80522. Proposals will be received
before 3:00 P.M. (our clock), September 20, 2000, Proposal No. P- 772.
A pre -proposal conference, for all the banks interested in submitting a proposal, will be
held the Council Information Conference Room, 300 Laporte Avenue, Fort Collins, CO. at
11:00 A.M. on September 1, 2000, to discuss objectives and answer questions relating to
the proposal. Attendance is not required but strongly encouraged.
A copy of the Proposal may be obtained as follows:
Call the Purchasing Fax -line, 970-416-2033 and follow the verbal instruction to
request document #30722.
2. Download the Proposal/Bid from the Purchasing Webpage, Current Bids page,
at: www.ci.fort-collins.co.us/CITY—HALL/PURCHASING/INDEX.htm. then via the
Current Bids pushbutton.
3. Come by Purchasing at 256 W. Mountain Ave., Fort Collins, and request a copy
of the Bid.
Questions concerning the scope of the project should be directed to Alan Krcmarik, Financial
Officer, or Julie Depperman, Financial Analyst, (970) 221-6788.
Questions regarding proposal submittal or process should be directed to James B. O'Neill II,
CPPO, Director of Purchasing and Risk Management (970) 221-6775.
Sales Prohibited -Conflict of Interest: No officer, employee, or their dependent or person residing
in and sharing the expenses of their household, shall have a financial interest in the sale to the
City of any real or personal property, equipment, material, supplies, or services. This rule also
applies to subcontracts with the City. This shall not apply to members of any authority, board,
committee or commission of the City, other than the members of the City Council. Soliciting or
accepting any gift, gratuity favor, entertainment, kick -back or any items of monetary value from
any person who has or is seeking to do business with the City of Fort Collins is prohibited. Any
vendor knowing of this type of activity is encouraged to report, in confidence, to the Director of
Purchasing and Risk Management, Financial Officer, City Attorney or City Manager so the matter
can be dealt with.
Attachment E
CITY OF FORT COLLINS, COLORADO
CASH MANAGEMENT AND INVESTMENT POLICY
September 7. 1993
The Financial Officer of the City of Fort Collins, Colorado, is charged with the responsibility to
invest funds of the City. Currently, these funds must be placed in investments appropriately
authorized by the City of Fort Collins Ordinance No. 108, 1988. The following Investment Policy
prescribes the manner in which the program authorized by the ordinance will be administered to
ensure effective and sound fiscal management.
SCOPE
This policy shall apply to the investment of all general and special funds of the City of
Fort Collins (hereinafter referred to as the "the City") over which it exercises financial
control, including the City of Fort Collins Fire Fighters Pension and General Employees
Retirement funds.
OBJECTIVES
The City's principal cash management and investment objectives are:
A. Preservation of capital through the protection of investment principal.
B. To maximize the cash available for investment.
C. Maintenance of sufficient liquidity to meet the City's cash needs.
D. Diversification of investments to avoid incurring unreasonable risk regarding a
specific security, maturity period, or institution.
E. To maximize the rate of return for prevailing market conditions for eligible
securities.
F. Conformance with all Federal, State and other legal requirements.
DELEGATION OF AUTHORITY
Responsibility for the collection and investment of all City funds is assigned to the
Financial Officer by the Charter, subjected to direction of Council by resolution. The
Financial Officer may appoint other members of the Finance Department to assist in the
cash management and investment functions.
The City Manager shall appoint an investment committee, consisting of the Financial
Officer and at least two (2) other employees of the City knowledgeable in the area of
governmental investments. The purpose of the investment committee shall be to
provide advice to the Financial Officer regarding the operation of the cash management
and investment program. The investment committee shall review and discuss the
economic outlook for the ensuing investment period, the diversification and maturity
structure of the portfolio, potential risks to the investment of City funds, and the
conformance of the cash management and investment program to the adopted policies.
The investment committee shall also review the actual rate of return on the portfolio as
compared to the target rate of return.
The Financial Officer shall have the discretion to appoint one or more Investment
Advisors, registered with the Securities and Exchange Commission under the
Investment Advisors Act of 1940, to assist in the management of a portion of the City's
authorized purchasing procedures for selecting professional services. All investments
made through such Investment Advisors shall be within the guidelines of this Investment
Policy with regard to the City's assets.
A list of individuals and institutions who are authorized to purchase, sell and wire
securities or funds on behalf of the City shall be maintained by the Financial Officer.
Such list shall be provided to a financial institution prior to the City conducting any
investment transactions with said institution.
The Financial Officer shall be responsible for all investment decisions and activities, and
shall establish written administrative procedures for the operation of the City's
investment program consistent with the Investment Policy. The Financial Officer and
designees acting within the guidelines of this investment policy shall not be held
personally liable for specific investment transactions.
FINANCIAL OFFICER'S PROGRAM RESPONSIBILITIES
A. Safekeeping
Wireable investment securities purchased by the City will be delivered
by book entry and held in third party safekeeping by a Federal
Reserve member financial institution designated as the City's
depository.
2. The purchase of wireable securities shall be on a deliver -versus -
payment basis. Sale of wireable securities shall be on a payment -
versus -delivery basis.
3. Nonwireable securities may be:
a. Held in safekeeping with a firm recognized as a Primary Dealer of
the Federal Reserve Board of New York, or financial institution
authorized by the City, with the following provisions:
(1) The dollar value of securities held by any firm shall not
exceed the firm's insurance limits for the City's account.
(2) Firms must supply the City with documentation supporting
their insurance limits as well as the name of their insurers.
Such documentation shall be maintained by the Financial
Officer.
(3) City staff shall monitor and update the insurance data
required by this section on a quarterly basis.
b. Physically delivered and held in third party
safekeeping by a Federal Reserve member financial
institution approved by the City.
B. Reporting
On a quarterly basis, a report shall be prepared listing all of the investments held by
the City, transaction summaries and performance results. The quarterly investment
report shall be submitted in a timely manner to the City Manager. A summary
investment report shall be published in a newspaper of local publication, or other
suitable publication of general local circulation on an annual basis.
C. Performance Review
The Financial Officer and designated investment staff shall meet
at least quarterly to review the portfolio's adherence to appropriate
risk levels and to compare the portfolio's total return to the
established investment objectives and goals.
2. Cash and investment performance standards, to be determined
quarterly, shall include:
a. Optimal daily cash balance to be maintained in both the
demand account and savings account.
b. The yield as a measure of net return to be achieved on
investments.
C. The percentage of cash balances to be invested daily.
3. The Financial Officer shall periodically establish a benchmark
yield for the City's investments which shall be equal to the
average yield on the U.S. Treasury security which most closely
corresponds to the portfolio's actual weighted average maturity.
4. The Financial Officer, in order to determine the actual rate of
return to the City on any portion of the portfolio managed by an
investment advisor, shall include all of the advisor's expenses and
fees in the computation of the rate of return.
D. Investment Transactions
All investment transactions initiated by the City must be executed
with brokers -dealers and financial institutions that have been
authorized by the City. Each city -initiated transaction for publicly -
traded funds must be competitively transacted with a least two
authorized broker -dealers or financial institutions.
2. In order to insure that the City receives competitive pricing, a
record shall be maintained by the City for securities transactions.
3. Commercial paper may be bought directly from the issuers and be
held in third party safekeeping.
4. In lieu of taking delivery through the Federal Reserve System or
the Depository Trust Company (DTC), if an investment opportunity
can increase yield but maintain prudent safety requirements, the
charges for transmitting, transacting, or performing third party
safekeeping for securities may be charged against interest income
generated by the transaction.
E. The Financial Officer shall:
Prepare a cash budget in order to determine cash needs time
horizons, and the availability of cash to invest.
2. Analyze market conditions of the various investment securities on
a daily basis to determine the maximum yield obtainable.
3. Prepare investment assumptions as to market conditions, cash
availability and starting mix of investment securities.
4. Prepare investment strategies or actions to be taken based upon
assumptions and actions to be taken in the event of an
unexpected drop in cash flow or unexpected revenues.
5. Whenever possible, pool cash from the various City Funds to
enhance investment capabilities, thus maximizing investment
income. Interest income will be distributed to the participating
funds in proportion to each fund's level of contribution.
Prepare strategies that will maximize amount of cash available for
investment.
F. The Financial Officer shall promulgate administrative procedures as
deemed necessary.
PRUDENCE
The standard of prudence to be used to managing the City's assets is the "prudent
investor" rule, which states, "Investments shall be made with judgment and care, under
circumstances then prevailing, which persons of prudence, discretion and intelligence
exercise in the management of their own affairs, not for speculation, but for investment
considering the probable safety of their capital as well as the probable income to be
derived."
ELIGIBLE INVESTMENT
A. As a home rule City, Fort Collins may adopt a list of acceptable
investment instruments differing from those outlined in CRS 24-75-601.1,
"Legal Investment of Public Funds". The City Council has adopted
Ordinance No. 108, 1988 of the Council of the City of Fort Collins
"Providing for the Investment and Deposit of Public Funds and Moneys of
the City of Fort Collins" (hereinafter referred to as "Ordinance No. 108,
1988").
B. The following is an outline of authorized investments with certain
additional qualifications. It is intended to define the administrative
boundaries within which these investments will be conducted:
Any securities now or hereafter designed as legal investment for
municipalities in any applicable statute of the State of Colorado.
2. Interest -bearing accounts or time certificates of deposit at state or
federally -chartered savings and loan associations in Colorado
which have been designated as depositories for public moneys by
the State of Colorado.
3. Interest -bearing accounts or time certificates of deposit in state or
national banks doing business in Colorado which have been
designated as depositories for public moneys by the State of
Colorado.
4. Obligations of the United States Government, such as treasury
bills, treasury notes and treasury bonds.
5. Obligations issued by any agency, instrumentality or public
corporation of the United States.
6. Obligations issued by or on behalf of the City
7. Obligations issued by or on behalf of any state of the United
States, any political subdivision, agency, instrumentality or public
corporation thereof having an investment grade rating from
Moody's Investors Service or Standard & Poor's Corporation.
Investment Grade means one of the top three highest rating
categories.
Prime -rated bankers acceptances shall have a maturity of six
months or less and be issued on domestic banks or branches of
foreign banks domiciled in the U.S. and operating under U.S.
banking laws.
9. Prime -rated commercial paper shall have a maturity of six months
or less and be issued on U.S. corporations which are rated A-1 by
Moody's, P-1 by Standard and Poor's or 1+ by Duff and Phelps,
Inc.
10. Guaranteed investment contracts of domestically -regulated
insurance companies having a claims -paying ability rating of "AA"
or better from Standard & Poor's Corporation and have a rating of
A+ from Best Rating Services.
11. Repurchase and reverse repurchase agreements of any
marketable security described in Ordinance No. 108, 1988 which
afford the City a perfected security interest in such security.
Repurchase Agreements shall be collateralized at a minimum of
102 percent of the dollar value of the transaction. The transaction
shall be on delivery -versus -payment basis to the City's depository
bank's account at the Federal Reserve Bank.
12. Local government investment pools authorized under the laws of
the State of Colorado.
13. Shares in any money market fund or account, unit investment trust
or open- or closed -end investment company, all of the net assets
of which are invested in securities described in this section, to the
extent not prohibited by Colorado Constitution Article XI, Section 2
or by the Colorado Revised Statutes. City investment in such
funds or trusts shall be limited to funds and trusts which meet the
following conditions:
a. The Money Market Fund shall be a domestic money
market mutual fund registered with the Federal Securities
and Exchange Commission (SEC) and meeting the
requirements of Rule 2a-7 of the Investment Company Act
of 1940. The unit investment trust maximum maturity will
not exceed Section VIII of these policies.
b. The fund or trust shall be "no load" i.e., no commission fee
shall be charged on purchases or sales of shares.
C. The investment advisor or administrator of the fund or trust
must be specifically prohibited from conducting securities
transactions with its sponsoring institution.
d. The net asset value per share of the fund shall be held
constant at a certain amount (usually $1.00 per share).
The market value of a unit investment trust share shall be
compared to market monthly.
14. Mutual funds that include eligible investments found in VI. B. The
funds utilized must have a top rating for at least five years in the
national rating service Morningstar Mutual Funds.
15. For bond reserve funds only, treasury securities with a put option
may be used to control and immunize arbitrage rebates. To
maximize arbitrage the interest income of the security may pay for
the put.
C. In addition to those investments listed in subsection B above, pension
funds may be invested as follows:
Equipment trust certificates;
2. Real property and loans secured by first mortgages or deeds of
trust on real property; participation guarantee agreements with
domestically -regulated life insurance companies;
3. Tax certificates issued by any county treasurer of Colorado upon
any real property located within the state of Colorado; and
4. Common or preferred stock or debt obligations, convertible or
otherwise, of private corporations organized under the laws of any
state in the United States.
5. International mutual funds that have a five star rating for at least
five years from a national rating agency service Morningstar
Mutual Funds.
VII. INVESTMENT DIVERSIFICATION
It is the intent of the City to diversify the investment instruments within the portfolio to
avoid incurring unreasonable risks inherent in over -investing in specific instruments,
individual financial institutions or maturities. The asset allocation in the portfolio should
be flexible, depending upon the outlook for the economy and the securities markets.
VIII. INVESTMENT MATURITY AND LIQUIDITY
Eighty percent of the City's investments, excluding pension funds, shall be limited to
maturities not exceeding five years. In addition, the weighted average maturity life of the
total portfolio, excluding pension funds and long-term reserve funds, at no time shall
exceed two years. The City shall at all times maintain five percent of its total investment
portfolio in instruments maturing in 120 days or less.
IX. Before any repurchase agreements shall be executed with an authorized broker -
dealer or financial institution, a Master Repurchase Agreement, approved as to
form and content by the City Attorney, must be signed between the City and that
broker -dealer or financial institution. The Financial Officer shall maintain a file of
all Master Repurchase Agreements. The purchase and sale of all deliverable
securities shall be on a delivery -versus -payment basis or in case of a sale on a
payment -versus -delivery basis.
X. SALE OF INVESTMENT AT A LOSS
The City seeks an active, rather than passive, management of its portfolio assets.
Assets may be sold at a loss only if the Financial Officer or designee decides, based
upon sufficient analysis, that the sale of the security is in the best long-term interest of
the City. Sufficient analysis shall be provided to support each investment decision in
which a loss is realized. This documentation shall be kept at least two (2) years from the
date of sale.
XI. SELECTION OF BANKS AND SAVINGS AND LOANS
A. As outlined in Section 2 of Ordinance No. 108, 1988: "The City may
deposit public funds and moneys in any bank or savings and loan
association located in the State of Colorado as now or hereafter provided
in any applicable statute of the State of Colorado or in a bank or savings
and loan association located outside the State of Colorado, provided that
such deposit is insured by the Federal Deposit Insurance Corporation or
collateralized as provided under the laws governing deposit of public
funds of the state in which such institution is located."
B. In addition, the City shall maintain a list of authorized banks and savings
and loans which meet the following criteria and are eligible to provide
banking services to the City. To be eligible for authorization, a bank or
savings and loan must meet the minimum credit criteria (described below)
of a credit analysis provided by a commercially available bank rating
service. Banks or savings and loans failing to meet the minimum criteria,
or in the judgment of the Financial Officer no longer offering adequate
safety to the City, will be removed from the list. Although a bank or
savings and loan is on the qualified list, it will still be required to pledge
collateral on all deposits and investments, pursuant to State Law.
C. The City shall utilize a commercially available bank rating service to
perform a credit analysis on banks and savings and loans. The bank
rating guidelines will be calculated using publicly available financial
information obtained from the release of the preliminary reports of
condition and reports on income from the Federal Reserve. Data
obtained from the bank rating service will include factors covering the
following: overall rating, liquidity policy, credit risk policy, interest rate
policy, profitability and capital policy.
D. The following are the minimum credit criteria for a bank or savings and
loan:
The overall credit rating must be average or above according to
nationally -recognized rating firms.
2. The credit risk and capital policy rating must be average or above,
its equivalent, regardless of the overall credit rating, and
3. The institution must qualify as a depository of public funds in
Colorado as defined in CRS 24-75-603.
E. The Financial Officer shall maintain a file of all credit rating analysis
reports performed for the City.
XII. ETHICS AND CONFLICTS OF INTEREST
City officers and employees involved in the investment process shall adhere to the rules
of conduct concerning conflicts of interest as stated in Art. IV, Section 9(b) of the Charter
of the City of Fort Collins, Colorado.
XIII. POLICY REVISIONS
This Investment Policy will be reviewed periodically by the City Manager and the
Financial Officer and may be amended by City Council as conditions warrant.
Prepared by:
Alan James Krcmarik
Financial Officer
Effective Date:October 1. 1993
Date:
EXHIBIT F
ATTACIfNMNT FOR TREASURY LINK SERVICES
This Attachment for Treasury Link Services is made with reference to the General
Agreement for Cash Management Services (Reference Number "0100 ) between First
National Bank and the undersigned customer. (In this Attachment, "we" and "us" refer to First
National Bank and "you" refers to the customer.)
1. We agree to provide the services indicated below. Services are provided subject to the
provisions of the General Agreement.
2. If using terminal services, you understand that you are responsible for obtaining the
necessary terminal, modem and communications link to our system and for the expense of
maintaining the same. We will provide any necessary PC software. You agree not to copy or
distribute that software, to use it only to receive the above services from us, and to return it to
us on termination of this Attachment.
3. We will issue Company and User IDs to you that may be necessary to use the services.
You are responsible for maintaining adequate security and control over your IDs. You should
request your IDs to be changed whenever any person with access thereto transfers to a new
assignment, leaves your employ or is otherwise no longer authorized to use the services on your
behalf or if you otherwise believe that security of your IDs has been compromised. We are
authorized to provide the services and to release your account information to any person who has
entered the proper ID.
-- 4. If using terminal services and you have selected wire transfer initiation services, you
must have a Wire Transfer Agreement in force with us. Use of your IDs, as contemplated above
will constitute the agreed security procedure for wire transfers, and your Wire Transfer
Agreement with us will be considered amended accordingly.
Account Name:
Account Number:
Account Name:
Account Number:
Account Name:
Account Number:
Access Authorization
Name BR Wire Mail
BR — Balance Reporting
Wire = Wire Transfer
Mail = Electronic Mail
Date:
The City of Fort Collins reserves the right to reject any and all proposals and to waive any
irregularities or informalities.
rely
,
0 1n ^ n
a es B. O'Neill II, CPPO
D' ector of Purchasing & Risk Management
Attachment G
(Sample)
SERVICES AGREEMENT
THIS AGREEMENT made and entered into the day and year set forth below by and
between THE CITY OF FORT COLLINS, COLORADO, a Municipal Corporation, hereinafter
referred to as the "City" and
"Service Provider".
WITNESSETH:
hereinafter referred to as
In consideration of the mutual covenants and obligations herein expressed, it is agreed
by and between the parties hereto as follows:
1. Scope of Services. The Service Provider agrees to provide services in
accordance with the scope of services attached hereto as Exhibit "A", consisting of _ (_)
page[s], and incorporated herein by this reference.
2. The Work Schedule [Optional] The services to be performed pursuant to this
Agreement shall be performed in accordance with the Work Schedule attached hereto as
Exhibit "B", consisting of _ (_) page[s], and incorporated herein by this reference.
3. Time of Commencement and Completion of Services. The services to be
performed pursuant to this Agreement shall be initiated within
(_) days
following execution of this Agreement. Services shall be completed no later than
Time is of the essence. Any extensions of the time limit set forth above
must be agreed upon in a writing signed by the parties.
4. Contract Period. [Option 1] This Agreement shall commence upon the date of
execution shown on the signature page of this Agreement and shall continue in full force and
effect for one (1) year, unless sooner terminated as herein provided. In addition, at the option of
the City, the Agreement may be extended for an additional period of one (1) year at the rates
provided with written notice to the Professional mailed no later than ninety (90) days prior to
contract end.
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4. Contract Period. [Option 2] This Agreement shall commence , 2000,
and shall continue in full force and effect until , 2000, unless sooner terminated as
herein provided. In addition, at the option of the City, the Agreement may be extended for
additional one year periods not to exceed _ (_) additional one year periods. Pricing changes
shall be negotiated by and agreed to by both parties and may not exceed the Denver - Boulder
CPI-U as published by the Colorado State Planning and Budget Office. Written notice of
renewal shall be provided to the Service Provider and mailed no later than ninety (90) days prior
to contract end.
5. Delay. If either party is prevented in whole or in part from performing its
obligations by unforeseeable causes beyond its reasonable control and without its fault or
negligence, then the party so prevented shall be excused from whatever performance is
prevented by such cause. To the extent that the performance is actually prevented, the Service
Provider must provide written notice to the City of such condition within fifteen (15) days from
the onset of such condition.
[Early Termination clause here as an option.
6. Early Termination by City/Notice. Notwithstanding the time periods contained
herein, the City may terminate this Agreement at any time without cause by providing written
notice of termination to the Service Provider. Such notice shall be delivered at least fifteen (15)
days prior to the termination date contained in said notice unless otherwise agreed in writing by
the parties. All notices provided under this Agreement shall be effective when mailed, postage
prepaid and sent to the following addresses:
City: Service Provider:
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In the event of early termination by the City, the Service Provider shall be paid for services
rendered to the date of termination, subject only to the satisfactory performance of the Service
Provider's obligations under this Agreement. Such payment shall be the Service Provider's sole
right and remedy for such termination.
7. Contract Sum. The City shall pay the Service provider for the performance of this
Contract, subject to additions and deletions provided herein, the sum of Dollars
($ ) [Option Cost Breakdown is attached Exhibit "C"]
8. City Representative. The City will designate, prior to commencement of the
work, its representative who shall make, within the scope of his or her authority, all necessary
and proper decisions with reference to the services provided under this agreement. All requests
concerning this agreement shall be directed to the City Representative.
9. Independent Service provider. The services to be performed by Service Provider
are those of an independent service provider and not of an employee of the City of Fort Collins.
The City shall not be responsible for withholding any portion of Service Provider's
compensation hereunder for the payment of FICA, Workmen's Compensation or other taxes or
benefits or for any other purpose.
10. Personal Services. It is understood that the City enters into the Agreement
based on the special abilities of the Service Provider and that this Agreement shall be
considered as an agreement for personal services. Accordingly, the Service Provider shall
neither assign any responsibilities nor delegate any duties arising under the Agreement without
the prior written consent of the City.
11. Acceptance Not Waiver. The City's approval or acceptance of, or payment for
any of the services shall not be construed to operate as a waiver of any rights or benefits
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provided to the City under this Agreement or cause of action arising out of performance of this
Agreement.
12. Warr .
(a) Service Provider warrants that all work performed hereunder shall be
performed with the highest degree of competence and care in accordance
with accepted standards for work of a similar nature.
(b) Unless otherwise provided in the Agreement, all materials and equipment
incorporated into any work shall be new and, where not specified, of the
most suitable grade of their respective kinds for their intended use, and all
workmanship shall be acceptable to City.
(c) Service Provider warrants all equipment, materials, labor and other work,
provided under this Agreement, except City -furnished materials,
equipment and labor, against defects and nonconformances in design,
materials and workmanship/workwomanship for a period beginning with
the start of the work and ending twelve (12) months from and after final
acceptance under the Agreement, regardless whether the same were
furnished or performed by Service Provider or by any of its subcontractors
of any tier. Upon receipt of written notice from City of any such defect or
nonconformances, the affected item or part thereof shall be redesigned,
repaired or replaced by Service Provider in a manner and at a time
acceptable to City.
13. Default. Each and every term and condition hereof shall be deemed to be a
material element of this Agreement. In the event either party should fail or refuse to perform
according to the terms of this agreement, such party may be declared in default thereof.
14. Remedies. In the event a party has been declared in default, such defaulting
party shall be allowed a period of ten (10) days within which to cure said default. In the event
the default remains uncorrected, the party declaring default may elect to (a) terminate the
Agreement and seek damages; (b) treat the Agreement as continuing and require specific
performance; or (c) avail himself of any other remedy at law or equity. If the non -defaulting party
commences legal or equitable actions against the defaulting party, the defaulting party shall be
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liable to the non -defaulting party for the non -defaulting party's reasonable attorney fees and
costs incurred because of the default.
15. Binding Effect. This writing, together with the exhibits hereto, constitutes the
entire agreement between the parties and shall be binding upon said parties, their officers,
employees, agents and assigns and shall inure to the benefit of the respective survivors, heirs,
personal representatives, successors and assigns of said parties.
16. Indemnity/Insurance. a. The Service Provider agrees to indemnify and save
harmless the City, its officers, agents and employees against and from any and all actions,
suits, claims, demands or liability of any character whatsoever brought or asserted for injuries to
or death of any person or persons, or damages to property arising out of, result from or
occurring in connection with the performance of any service hereunder.
b. The Service Provider shall take all necessary precautions in performing the work
hereunder to prevent injury to persons and property.
c. Without limiting any of the Service Provider's obligations hereunder, the Service
Provider shall provide and maintain insurance coverage naming the City as an additional
insured under this Agreement of the type and with the limits specified within Exhibit _,
consisting of (_) pages[s], attached hereto and incorporated herein by this reference.
The Service Provider before commencing services hereunder, shall deliver to the City's Director
of Purchasing and Risk Management, 256 West Mountain Avenue, Fort Collins, Colorado 80521
one copy of a certificate evidencing the insurance coverage required from an insurance
company acceptable to the City.
17. Entire Agreement This Agreement, along with all Exhibits and other documents
incorporated herein, shall constitute the entire Agreement of the parties. Covenants or
representations not contained in this Agreement shall not be binding on the parties.
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18. LawLaw/Severability. The laws of the State of Colorado shall govern the construction
interpretation, execution and enforcement of this Agreement. In the event any provision of this
Agreement shall be held invalid or unenforceable by any court of competent jurisdiction, such
holding shall not invalidate or render unenforceable any other provision of this Agreement.
19. Special Provisions [Optional] Special provisions or conditions relating to the
services to be performed pursuant to this Agreement are set forth in Exhibit _, consisting of
(_) page[s], attached hereto and incorporated herein by this reference.
ATTEST:
City Clerk
APPROVED AS TO FORM:
Assistant City Attorney
CITY OF FORT COLLINS, COLORADO
a municipal corporation
0
John F. Fischbach
City Manager
By:
James B. O'Neill II, CPPO
Director of Purchasing and Risk Management
Date:
[Insert Corporation's name] or
[Insert Partnership name] or
[Insert individual's name]
Doing business as [insert name of business]
By:
PRINT NAME
CORPORATE PRESIDENT OR VICE PRESIDENT
Date:
ATTEST: (Corporate Seal)
CORPORATE SECRETARY
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INSURANCE REQUIREMENTS
The Service Provider will provide, from insurance companies acceptable to the City, the insurance
coverage designated hereinafter and pay all costs. Before commencing work under this bid, the
Service Provider shall furnish the City with certificates of insurance showing the type, amount, class of
operations covered, effective dates and date of expiration of policies, and containing substantially the
following statement"
"The insurance evidenced by this Certificate will not be cancelled or materially altered, except after ten
(10) days written notice has been received by the City of Fort Collins."
In case of the breach of any provision of the Insurance Requirements, the City, at its option, may take
out and maintain, at the expense of the Service Provider, such insurance as the City may deem proper
and may deduct the cost of such insurance from any monies which may be due or become due the
Service Provider under this Agreement. The City, its officers, agents and employees shall be named as
additional insureds on the Service Provider's general liability and automobile liability insurance policies
for any claims arising out of work performed under this Agreement.
Insurance coverages shall be as follows
A. Workers' Compensation & Employer's Liability. The Service Provider shall maintain during the
life of this Agreement for all of the Service Provider's employees engaged in work performed
under this agreement:
1. Workers' Compensation insurance with statutory limits as required by Colorado law.
2. Employer's Liability insurance with limits of $100,000 per accident, $500,000 disease
aggregate, and $100,000 disease each employee.
B. Commercial General & Vehicle Liability. The Service Provider shall maintain during the life of
this Agreement such commercial general liability and automobile liability insurance as will
provide coverage for damage claims of personal injury, including accidental death, as well as for
claims for property damage, which may arise directly or indirectly from the performance of work
under this Agreement. Coverage for property damage shall be on a "broad form" basis. The
amount of insurance for each coverage, Commercial General and Vehicle, shall not be less than
$500,000 combined single limits for bodily injury and property damage.
In the event any work is performed by a subcontractor, the Service Provider shall be responsible
for any liability directly or indirectly arising out of the work performed under this Agreement by a
subcontractor, which liability is not covered by the subcontractor's insurance.
SA 10/97
Section 1 Introduction and Information about the City and the Finance Department
Purpose and Objectives
The City of Fort Collins and its Finance Department (hereafter referred to as the City) is seeking
proposals from qualified banks interested in providing banking and direct deposit payroll
processing services to the City and its employees. These services are to meet the City's
banking services needs as described in this Request for Proposal (RFP) and shall include:
Depository Services
Automated Clearing House (ACH)
Wire Transfer Services
Electronic Data Interchange (EDI)
Lock Box Service
Direct Deposit Payroll
Controlled Disbursements, Account Reconciliation, and Positive Pay
Information Reporting
Banking -Treasury Workstations
Armored Car Courier
Credit Card Services (Procurement Cards currently provided by LaSalle)
Additional Future Services or Enhancements
This RFP contains the instructions governing the proposals to be submitted, the material to be
included within the RFP, minimum requirements that must be met to be eligible for
consideration, and other requirements.
Background Information
The City is a municipal corporation organized under Article XX of the Constitution of the State of
Colorado. The City derives its powers from the State Constitution, applicable Colorado Revised
Statues, and the home rule charter.
In 2000, the City's population is estimated to be between 115,000 and 120,000. The City
employs up to 2,250 employees and makes payroll distributions every two weeks. The adopted
2000 Budget was $379 million. The City operates four utility enterprises with approximately
56,000 distinct customers.
The City's current banking services are provided by the First National Bank of Fort Collins. First
National (and its predecessors) has provided banking services to the City for over 20 years.
According to a separate agreement and not subject to this RFP, the Bank of New York Western
Trust Company provides the City with security safe -keeping services. Also subject to a
separate agreement and not subject to this RFP, the LaSalle Bank of Chicago, Illinois provides
purchasing card services for the City.
During the term of this banking services contract (2001-2005), the City will plan and implement
various electronic commerce procedures, including, but not limited to, bill presentment and
payments acceptance. The City expects that the bank will provide support for innovations by
working with Finance Department and other staff to identify and set up required procedures,
processes, and services for accepting payments through various electronic media.
3
Currently, the City accepts credit card payments over the telephone and in -person at its
performing arts center and at some of its recreational facilities. Within the next five years, the
City will probably be accepting credit card payments for many other types of services, including
utility service charges. The City now has a payment program for customers that pay their
monthly utility bills via electronic funds transfer from their checking or savings accounts. The
City expects that this service will grow with increased promotional efforts.
Invitation to Propose
By this Request for Proposal, the City is contacting prospective banks that have an interest or
are known to meet the "Requirements to Propose" as specified below. All interested institutions
that were not contacted are invited to submit a proposal in accordance with the policies,
procedures, and dates set forth herein. NOTE: In the event of a "no proposal," please sign the
RFP, indicate "No Proposal," and return.
The City has no expressed or implied obligation to reimburse responding banks for any
expenses incurred in preparing proposals in response to this request.
All material submitted to the City of Fort Collins in response to or regarding this RFP becomes
the property of the City and will be returned to the bank only at the City's option.
The City reserves the right to withdraw this RFP at any time and for any reason. The City may
issue any combination of clarifications, modifications, or amendments it may deem appropriate.
Minimum Requirements to Propose
The City's minimum requirements for banks responding to this RFP include:
a. A Green VERIBANC, Inc. rating
b. Total assets of at least $2 Billion
c. Approval as an Eligible Public Fund Depository by the Colorado State Banking Board
d. Capital ratios indicating the bank is at least adequately capitalized
The City cannot enter into a contract with a bank that does not meet the minimum criteria
outlined above. Bids from banks that do not meet the minimum criteria may not be considered.
Banks that do not currently meet the minimum criteria but desire to submit a proposal must
include a written Justification for Consideration. A written Justification for Consideration does
not obligate the selection committee to consider the proposal of a bank that does not meet the
minimum criteria. Designation as an eligible public depository by the State Banking Board
cannot be waived.
The City's Investment Policies are included as Attachment E of this RFP.
Additional requirements and criteria for selection are included in sections 2 through 6 of this
RFP.
Proposal Calendar
The following calendar outlines the critical dates for the City of Fort Collins Banking Services
RFP process. The City reserves the right to adjust this timetable as required and will provide
written notice of any changes to all banks that may desire to submit a proposal.
August 16, 2000
August 30
September 1
September 20
October 20
October 20-
December 31
January 1, 2001
Event
RFP Mailed
Written Proposal Inquiries Due by 3:00 p.m.
Pre-RFP response meeting (11:00 a.m.)
Proposals due. Sealed proposals with seven (7) copies.
Evaluations completed. Contract sent to selected bank
Preparation and revisions to contract; Implementation
Contract begins
Pre -proposal Meeting
The City will hold a pre -proposal meeting for all banks interested in submitting a proposal to
answer questions about the engagement. The meeting will be held at 11:00 a.m. on September
1, 2000. Members of the Finance Department staff will be present. All banks planning to
submit a proposal should be represented at the meeting.
Inquiries about the Request for Proposal and the Subject
Any questions or clarification regarding this RFP and the subjects contained therein must be
made in writing prior to the pre -proposal conference. If there is any perceived ambiguity,
conflict, discrepancy, omission, or other error in the RFP, the Bank should immediately notify
the City in writing and request modification or clarification of the document. Written responses
to all submitted inquiries will be available at the pre -proposal meeting. Required modifications
to the RFP or answers not provided in writing at the pre -proposal meeting will be given by
written notice to all potential firms on or before September 15.
The bank desiring to submit a proposal is responsible for clarifying any ambiguity, conflict,
discrepancy, omission, or other error in the RFP prior to submitting the proposal.
Please direct all written inquiries to:
James B. O'Neill, Director of Purchasing
City of Fort Collins
256 W. Mountain Avenue
Fort Collins, CO 80521
By facsimile: 970/221-6707
Via e-mail: joneill@ci.fort-collins.co.us
Such inquiries will be accepted until 2:00 p.m., August 30, 2000. All inquiries regarding content
or banking services issues received by the Purchasing Department will be forwarded to the
appropriate staff person for review and will receive a response.
Contact with City personnel, other than written inquiries to Jim O'Neill, Alan Krcmarik, or Julie
Depperman, regarding this RFP may be grounds for elimination from the selection process.
News Release
News releases pertaining to this selection process or any part of the subject shall not be made
without prior written approval by the Financial Officer. Direct all information regarding news
releases to:
Alan Krcmarik, Financial Officer
City of Fort Collins Finance Department
P.O. Box 580
Fort Collins, CO 80522-0580
Facsimile: 970/221-67888
E-mail: akrcmarik<cilci.fort-collins.co.us
Section 2 Proposal Submittal Instructions
Submittal
All proposals must be in a single sealed package and clearly marked on the outside with the
RFP number (RFP-772)
Mail or deliver all proposals to the following address:
James B. O'Neill II, CPPO,
Director of Purchasing and Risk Management
City of Fort Collins Purchasing Division
256 W. Mountain Avenue
Fort Collins, CO 80521
All proposals must be received by 3:00 p.m. (according to the City's bid clock) on September
20, 2000. Any proposals received after this time will not be considered and will be returned.
Faxed proposals will not be accepted.
The City reserves the right to reject any or all proposals submitted, to waive informalities, and
minor irregularities in proposals received, and to accept any portion of a proposal or all items of
a proposal if deemed in the best interest of the City to do so.
The City reserves the right to retain all proposals submitted and to use any ideas or information
provided in a proposal regardless of whether that proposal is selected. Submittal of a proposal
indicates acceptance by the bank of the conditions contained in the RFP unless clearly and
specifically noted in the proposal submitted and confirmed in the contract between the City and
the Bank.
According to the Colorado Open Records Act, all information submitted in response to this RFP
is a public record. Such information will be available for inspection upon completion of contract
negotiations and award. The bidder should not include as a part of the response to this RFP
any information that the bank believes to be a trade secret or other privileged or confidential
data. If the bank wishes to include such information in the proposal, then the material must be
placed in a separate envelope and labeled with the proposal number and clearly marked
confidential. The City will endeavor to keep that information confidential, separate and apart
from the proposal, subject to the provisions of the Colorado Open Records Act (CRS 23-72-201
et.seq.) or order court.
Format
All banks should organize their proposals according to the format described below. Failure to
comply with all provisions of this RFP may result in the proposal being disqualified. Significant
deviation from the format prescribed below may also result in the proposal being disqualified.
Banks must submit proposals that are substantially complete, thorough, and accurate.
Brochures and other similar background material may be attached to the proposal but will not be
used by the City evaluation team in determining the extent to which the proposal is responsive
or complete.
Proposal should be bound and include the following items (in order):