HomeMy WebLinkAboutFIRST NATIONAL BANK - CONTRACT - RFP - 7266 BANKING SERVICESSERVICES 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 First National Bank, hereinafter referred to as "Service Provider".
WITNESSETH:
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 two (2)
pages and incorporated herein by this reference.
4. Contract Period. This Agreement shall commence January 1, 2012 and shall
continue In full force and effect until December 31, 2012 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 four (4) additional one year periods. Renewals and pricing
changes shall be negotiated by and agreed to by both parties. The Denver Boulder Greeley
CPIU published by the Colorado State Planning and Budget Office will be used as a guide.
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 parry 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.
Services Agreement
RFP 7266 Banking Services Page 1 of 13
2. HOME program account (receipt of federal grant draws)
3. CDBG account (receipt of program income, grant draws, etc.)
4. Check clearing fund (receipts with insufficient funds, closed accounts, are
debited from this account)
5. Utility Funds' mini -checking account (low balance, low transaction account
used by the City's utility funds for misc. payments)
6. Three checking accounts used for credit card receipts
7. Municipal Court checking account
5. Safety deposit boxes
One large (Y by 6" by 12") box is required for use by the City.
6. Wire and ACH services
The City uses the fed wire system and ACH as forms of payment distribution. Both
incoming and outgoing wires are handled by the City's primary banking relationship.
7. Lock box processing
The Lock box must have a Fort Collins postal address.
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.
8. 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 are taken directly to
the bank and credited to the City's account,
9. 'On -Line Services
On-line services will include the ability to review balance reporting for all accounts
(prior day, current position, and lockbox availability), view disbursement account
activity and initiate stop -payments, generate wire and ACH and book and drawdown
transfers, and allow the setup of repetitive transfer templates.
10. 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 will calculate all costs for services that are off -set .by an earnings credit from
compensating accounting balances. The earning credit of .45% will be a floor for the contract
period and any renewals. The account analysis statement will depict costs that are directly
related to the number of transactions (for example, lock box processing, credit card processing,
etc. The City will have no reserve requirement during the term of the contract and any
renewals.
Services Agreement
RFP 7266 Banking Services Page 10 of 13
EXHIBIT B
CONTRACT SUM
PRICING SCHEDULE
Type of Service
Annual Number of
Items Processed
I
Cost per item or
monthly charges
Annual Cost of
Service
A. Depository Services
Demand Accounts & Activity
Interest -bearing demand accounts
4 $
1.000
$
48.00
Non -interest bearing demand accts
8 $
1.000
$
96.00
Balance transfers
1,500
$
0.100
$
150.00
Deposits by check (local)
446,000
$
0.043
$
19,178.00
Payment of checks (clearing)
32,052
$
0.060
$
1,923.12
Check redeposit
70
$
0.500
$
350.00
Stop payments
20
$
2.500
$
500.00
Returned checks
70
$
1.000
$
700.00
Banking Supplies
Checks
1,00
$
0.080
$
80.00
Demand account deposit sli si
4,00
$
0,050
$
200.00
Currency exchange
12
$
$
Cashiers checks
1,00
$
Safe deposit box
1
$
$
Coin wrappers
3,00
$
$
Petty cash requests
6
$
$
Locking money bags
9
$
$
B. Automated Clearing House
Originated — DebiUCredit
182,00
$
0.050
$
9,100.00
Return Items
22
$
0.500
1 $
112.50
Batch Items
18
$
0.500
1 $
90.00
C. Wire Transfer Services
$
-
Incoming domestic
12
$
2.000
1 $
250.00
Outgoing domestic
75
$
5.000
$
3,750.00
Incoming international
1
$
2.000
$
20.00
Outgoing international
1
$
5.000
1 $
50.00
D. Lock Box Service
Utility payments
1 258,00
$
0.167
$
43,086.00
Sale & Use tax payments
40,001
$
0.250
1 $
10,000.00
Pages Shredded
- 300,00
$
-
is
-
E. Controlled Disbursement, Account Recon and Positive
Pay
Item Recon & Positive Pay
32,05
$
0.030
$
961.56
Reconciliation Reports
1
$
- 1
$
F. Information Reporting
Acct statements (hardcopy rpt)
14
$
$
-
Account statements (file)
14
$
$
Cleared checks images (CD-ROM)
2
$
10.000
$
3,120.00
Account analysis
1
$
$
G. On -Line Banking Service Access
Online Services I
Is
60.000 is
2,160.00
Services Agreement
RFP 7266 Banking Services
H. Armored Car Courierz
Number of City locations
2
$ 366.000
$ 87,840.00
Number of pickups
3,0001
I. Bank Representatives to Work with City
TOTAL ANNUAL COST OF SERVICE for 2012
TOTAL ANNUAL COST OF SERVICE for 2013
TOTAL ANNUAL COST OF SERVICE for 2014
TOTAL ANNUAL COST OF SERVICE for 2015
TOTAL ANNUAL COST OF SERVICE for 2016
TOTAL COST FOR FIVE YEARS
$186,643.00
$189,607.00
$192,660.00
$195,805.00
$199,044.00
$963,759.00
Earnings Credit Rate o_,._______.,__e_,_____r_.T_.....w...............:::..,.., .�:.,:..,.._..r ecoc r,..,...::e...e,, .,�:�....e.....e�.e.
than $1 million.
For purposes of the Ea
Comments
'Applies to credits, not
Armored services will I
Services Agreemer
RFP 7266 Banking
EXHIBIT C
INSURANCE REQUIREMENTS
1. 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:
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.
Services Agreement
RFP 7266 Banking Services Page 13 of 13
ACQRV CERTIFICATE OF LIABILITY INSURANCE
DATE (MMIDO/YVYY)
I 2 2011
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES
BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED
REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
IMPORTANT: if the certificate holder is an ADDITIONAL INSURED, the pollcy(les) must be endorsed. If SUBROGATION IS WAIVED, subject to
the terms and conditions of the policy, certain policies may require an endorsement A statement on this certificate does not confer rights to the
certificate holder In lieu of such endorsement(s).
PRODUCER
CONTACT
NAME:
PHONE FAX
NC No : - -71 11
The Harry A. Koch Co.
P.O. Bor. 95279
EE-MAIL-
Omaha NE 68145-0279
ADDRESS:
INSURERIS) AFFORDING COVERAGE
NAICA
INSURER A:
INSURED
INSURER B:
INSURER C:
First National of Nebraska, Inc.
Attention: Patrick Mahoney
1620 Dodge St Stop Code 1155
INSURER D:
Omaha HE 68197-1155
INSURER E:
INSURER F:
COVERAGES CERTIFICATE NUMBER: 1608170751 REVISION NUMBER:
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD
INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS,
EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
INSR
LTq
TYPE OF INSUflANCE
INSR
WVD
POUCYNUMBER
POUCYEFF
mm/00IYYYY
POLICY EXP
MMIDOIYYYY
LIMITS
GENERAL UABILITY
35757477
/18/2011
/18/2012
EACH OCCURRENCE
$1,000,000
PREMISES Eaocurronro
$1,000 000
X COMMERCIAL GENERALLABILITY
CLAIMS MADE F.00CUR
MEDEXP(Ahyore Peron)
$10,000
PERSONAL B ADV INJURY
$L, 000 000
GENERAL AGGREGATE
$2,000 000
GENt AGGREGATE
GAATTE LIMIT APPLIES PER.
PROD UCTS -CDMPO AGG
tint Luded
POLICY PRO LOC
$
Is
AUTOMOBILE
UASIUTY
73560467
/LB/2011
1/18/2OL2
LIMIT"JINNED SINGLE
Ea accmn
1 000 000
E
GODLY INJURY(Per Peron)
$
ANY AUTO
AI I.OWNED SCHEDULED
AUTOS AUTOS
GODLY INJURY(PerawUM10
$
X
PROPERTY DAMAGE
Per accdenl
S
NON OWNED
HUED AUTOS X AUTOS
$
UMBRELLA UAB
OCCUR
EACHOCCURRENCE
$
AGGREGATE
$
EXCESS LAB
CLAMS -MADE
DED RETENTIONS
$
WORKERS COMP ENSATION
71701763
/18/2011
1/19/2012
X WC STATU- OTU
TORY LIMITS FIT
AND EMPLOYERS' UABIUTY Y/N
ANY PROPRIETORPARTNEREXECUTIVE
OFFICER,MF.MBE.R EXCLUDED?
NI 4
ELEACH ACCIDENT
5500, 000
E.L. DISEASE EA EMPLOYE
S500 000
(Mandatory In NH)
a yes, ocanim uncler
DESC RIPTIOIIOFOPERATONSb
EL DISEASE-PULICYLMIT
S500 000
OESCRIPTI ON OF OPERATIONS I LOCATIONS I VEHICLES (Attach ACO RD 101, Addl llonal Revvrke Schedule, I more Vace a required)
RE: Banking Services Agreement. The City of Ft. Collins, its officers, agents and employees are named as
additional insured for general liability and auto liability as required by written contract executed prior
to a loss, but only insofar as loss or damage was the result of negligence of First National Bank, a
division of First National Bank of Omaha. First National Bank, a division of First National Bank of Omaha
is a named insured under the policies.
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE
THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN
City of Fort Collins ACCORDANCE WITH THE POLICY PROVISIONS
Attn James B. O'Neill
215 N Mason AUTHORIZED REPRESENTATIVE
Ft Collins CO 80524 �
® 1988.2010 ACORD CORPORATION. All rights reserved
ACORD 25 (2010105) The ACORD name and logo are registered marks of ACORD
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 of Fort Collins
Attn: Purchasing
PO Box 580
Fort Collins, CO 80522
First National Bank
Attn: Judy Dedrick
205 W. Oak Street
PO Box 578
Fort Collins, CO 80
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, per the attached Exhibit "B",
consisting of two (2) pages, and incorporated herein by this reference.
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.
Services Agreement
RFP 7266 Banking Services Page 2 of 13
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
provided to the City under this Agreement or cause of action arising out of performance of this
Agreement.
12. Warran .
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-fumished 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.
Services Agreement
RFP 7266 Banking Services Page 3 of 13
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
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 B,
Services Agreement
RFP 7266 Banking Services Page 4 of 13
consisting of one (1) page, 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, P. O. Box 580 Fort Collins, Colorado 80522 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.
18. Law/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. Prohibition Against Emoloving Illegal Aliens. Pursuant to Section 8-17.5-101,
C.R.S., et. seq., Service Provider represents and agrees that:
a. As of the date of this Agreement:
1. Service Provider does not knowingly employ or contract with an illegal
alien who will perform work under this Agreement; and
2. Service Provider will participate in either the e-Verify program created
in Public Law 208, 104th Congress, as amended, and expanded in Public Law 156, 108th
Congress, as amended, administered by the United States Department of Homeland Security
(the "e-Verify Program") or the Department Program (the "Department Program"), an
employment verification program established pursuant to Section 8-17.5-102(5)(c) C.R.S. in
order to confine the employment eligibility of all newly hired employees to perform work under
this Agreement.
Services Agreement
RFP 7266 Banking Services Page 5 of 13
b. Service Provider shall not knowingly employ or contract with an illegal alien to
I
perform work under this Agreement or knowingly enter into a contract with a subcontractor that
knowingly employs or contracts with an illegal alien to perform work under this Agreement.
c. Service Provider is prohibited from using the e-Verify Program or Department
Program procedures to undertake pre -employment screening of job applicants while this
Agreement is being performed.
d. If Service Provider obtains actual knowledge that a subcontractor performing
work under this Agreement knowingly employs or contracts with an illegal alien, Service
Provider shall:
1. Notify such subcontractor and the City within three days that Service Provider
has actual knowledge that the subcontractor is employing or contracting with an illegal alien;
and
2. Terminate the subcontract with the subcontractor if within three days of
receiving the notice required pursuant to this section the subcontractor does not cease
employing or contracting with the illegal alien; except that Service Provider shall not terminate
the contract with the subcontractor if during such three days the subcontractor provides
information to establish that the subcontractor has not knowingly employed or contracted with
an illegal alien.
e. Service Provider shall comply with any reasonable request by the Colorado
Department of Labor and Employment (the "Department') made in the course of an
investigation that the Department undertakes or is undertaking pursuant to the authority
established in Subsection 8-17.5-102 (5), C.R.S.
f. If Service Provider violates any provision of this Agreement pertaining to the
duties imposed by Subsection 8-17.5-102, C.R.S. the City may terminate this Agreement. If this
Agreement is so terminated, Service Provider shall be liable for actual and consequential
damages to the City arising out of Service Provider's violation of Subsection 8-17.5-102, C.R.S.
Services Agreement
RFP 7266 Banking Services Page 6 of 13
g. The City will notify the Office of the Secretary of State if Service Provider
violates this provision of this Agreement and the City terminates the Agreement for such breach.
Services Agreement
RFP 7266 Banking Services Page 7 of 13
CITY OF FORT COLLINS, COLORADO
a municipal corporation
By:
James�B. PI'Neill II, CPPO, FNIGP
Directoc,df Purchasing and Risk Management
Date: iI t /
I I
First National Bark l
By:
G- is ee
PRINT NAME -
CORPORATE PRESIDENT OR VICE PRESIDENT
Date: l 0.2810 I 1
ATTEST"
(Corporate Seal)
CORPORATE SECRETARY
Services Agreement
RFP 7266 Banking Services Page 8 of 13
EXHIBIT A
SCOPE OF SERVICES
DESCRIPTION OF ACCOUNTS AND SERVICES TO BE PROVIDED TO THE CITY
a. Overview of Current Banking Services
The 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. Daily transfers via online cash management system.
7. Account statements, reports and account analysis.
b. Accounts and Services
I. Item processing
1. 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,.account transfer, wire transfer, EFT and ACH.
2. 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 paycard 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. The
City processes its accounts payable checks regularly on Thursday of each week.
ii. Accounts and Safety Deposit Boxes
1. Operating account
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.
2. Payroll account
Disbursement account used for bi-weekly and monthly payroll.
3. Accounts payable account
Disbursement account used for all accounts payable checks, EFT, wires and
ACH withdrawals.
4. Additional special accounts
1. Self insurance account (payment of claims)
Services Agreement
RFP 7266 Banking Services Page 9 of 13