HomeMy WebLinkAboutRES.1597.08-07-2000 ,' �'
BILL NO. 20�0-210 RESOLUTION NO. I �9 7
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
ENTER INTO A CONTRACT FOR BASIC BANKING
SERVICES WITH COMMERCE BANK, N.A.
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CAPE GIRARDEAU,
MISSOURI , AS FOLLOWS:
SECTION 1. The City Manager, for and on behalf of the City of
Cape Girardeau, Missouri, is hereby authorized to enter into a
Contract for Banking Services with Commerce Bank, N.A. A copy of
said Contract is attached to this Resolution and made a part
hereof.
PASSED AND ADOPTED THIS �h DAY OF �, 2000.
A. M. Spradling, III, Ma
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Gayle L. Conrad, City Clerk �' � "'��, • ; ��.
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CONTRACT FOR BANKING SERVICES
This Contract entered into on the �.� day of ,
2000, by and between COMMERCE BANK, N.A. , hereinafter re erred to
as "Commerce" and the CITY OF CAPE GIRARDEAU, MISSOURI, hereinafter
referred to as "City" . � �Y`1��, ,
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1 . The parties hereto agree that ���ts will provide
basic banking services to the City in accordance with the
requirements of the "City of Cape Girardeau Banking Services
Request for Proposal" , marked Exhibit B and attached hereto and
incorporated herein by reference as though fully set out and in
accordance with the document marked "Exhibit A Proposal Form" also
attached hereto and made part hereof by reference as though fully
set out herein.
2 . The parties hereto agree that the attached documents
marked Exhibits A and B shall constitute the agreement between the
parties with respect to the provision of basic banking services to
the City of Cape Girardeau. ���
3 . The pa ties �gree that the City shall provide
compensation to ��-for the services as provided in the
Request for Proposal and the Proposal Form.
4 . The obligations of the parties pursuant to this Contract
shall begin September 1, 2000 and shall continue until June 30,
2002. The City may renew this Contract for three (3) additional one
(1) year terms, at the option of the City.
THIS AGREEMENT shall be binding upon the successors and
assigns of the parties.
COMMERCE BANK, N.A.
.
Rog Tolliver
Community Bank President
ATTEST:
[Typed Name & Title of igner]
CITY F CAPE GIRARDEAU, MISSOURI
Michael G. Miller, City Manager
ATTEST:
Gayle . Conrad, City Clerk
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Eb;�c�d;`.<.'�
r5���r Commerce Bank
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July 7,2000
City of Cape Girardeau
Attn: John Richbourgh
City Finance Department
City Hall
401 Independence Street
Cape Girardeau,MO 63703
Dear Mr.Richbourgh:
Commerce Bank is pleased to submit the enclosed proposal to provide banking
services for City of Cape Girardeau for the next two years.
Banking is a service business,just as is Govemment, and the value in each lies
in the quality of the service, the dedication of the employees to that quality of
service,and in the case of banking, the competitive pricing of those services.
At Commerce Bank we truly strive not just to meet those goals but to exceed
them. Whether it be basic banking at the local branch, investments and cash
management, or the accessibility of our employees for problem solving, we
believe that the City will not find another financial institufion that truly is as
committed to serving the Public Entity market.
We have done our best to respond to the needs of the City, and to be competitive
in pricing our services. Should you have any questions about our proposal
however, please do not hesitate to call me at 573-986-7001 or Marg Mack at
800-442-1083. We will be happy to answer your questions or clarify any part of
our proposal.
Sincerely,
/��' �
Roger Tolliver
Community Bank President
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� PROPOSAL TO PROVIDE
INVESTMENT BANKING SERVICES
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CITY OF CAPE GIRARDEAU
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COMP�RCE BANK, N.A.
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TABLE OF CONTENTS
City of Cape Girardeau
Commerce Bank Profile
ACCOUNTSTRUCTURE
SweepAccount.....................................................................................................................01
Collateral................................................................................................................02
FDICInsurance......................................................................................................03
INVESTMENTS AND ADVISORY
Investments.............................................................................................................03
Certificateof Deposit.............................................................................................03
FinancialAdvisory.................................................................................................03
DEPOSITORY SERVICFS
FundsAvailability..................................................................................................04
Deposit of Coin and Currency................................................................................04
Checksand Deposit Slips.......................................................................................04
NightDeposit.........................................................................................................04
CASH MANAGEMENT SERVICES
Commerce Connections for Windows....................................................................OS
Business Connections for Windows.......................................................................OS
FederalTax Payments............................................................................................OS
D'uect Deposit.........................................................................................................05
WireTransfer.........................................................................................................06
ZeroBalance Account............................................................................................06
AccountReconciliation..........................................................................................06
CheckImaging........................................................................................................06
BankStatements.....................................................................................................07
AccountAnalysis....................................................................................................07
SafeDeposit Box....................................................................................................07
FinancialStatement................................................................................................07
OfficialChecks.......................................................................................................07
ADDITIONAL SERVICES
PositivePay............................................................................................................07
PurchasingCard......................................................................................................08
Master CardNisa/American Express/Discover......................................................08
CreditCards............................................................................................................08
Controlled Disbursements......................................................................................08-09
StopPayments........................................................................................................09
Electronic Data Interchange...................................................................................09
Insurance................................................................................................................09
EmployeeAccounts................................................................................................09-10
SampleAccount Analysis.......................................................................................l l
BankcardProcessing..............................................................................................12
Cash Management Price Schedule..........................................................................13
Bid Form................................................................................................................14-19
Commerce Bank City of Cape Girardeau
Public Services Division RFP
COMMERCE BANK PROFILE
For over 90 years,Commerce has served the Midwest as a leader in providing quality financial services. As
Missouri's first public bank holding company, Commerce has grown to over$11.1 billion in assets and has
327 offices throughout Missouri,Illinois,and Kansas.
Repeatedly named "one of America's safest and best banks for top financial performance and consistent
quality growth",Commerce Bank has been successful throughout the years because it has followed the basic
rules of good banking while responding to the competitive demands of a changing environment. It has been
more successful than others because it has fine-tuned these basics and developed a long-term strategy for
profitable growth.
The Commerce commitment to sound management and financial strength combined with experienced
professionals dedicated to superior customer service makes Commerce a premier provider of high quality
fmancial services.
SWEEP ACCOUNT
The optimum account structure for the General Account is a non-interest bearing sweep account with a
required balance that fluctuates based on the amount of services used per month and interest rates in
general.
A "peg" balance is established based on estimates of the services required for the first month. Collected
funds in all the accounts accumulate "Earnings Credits" monthly, which are used to offset charges
applicable to services required for the month. Earnings credits are accumulated based on 98%of the current
4 week average of the 91 day Treasury Bill Yield rate for average collected balances in excess of$100,000
less a 10°k reserve requirement (5.576% as of 6/16/00), 90% of the current 4 week average of the 91 day
Treasury Bill yield rate for average collected balances of $25,000 to $100,000 less a 10°Io reserve
requirement(5.164%as of 6/16/00,and 75°l0 of the current 4 week average of the 91 day Treasury Bill yield
rate for average collected balances under $25,000 less a 10% reserve requirement(4.268% as of 6/16/00).
The City is provided a monthly, combined, itemized account analysis statement for all of its accounts,
indicating services provided,credits applied,and balances maintained, as well as the hard�iollar cost of the
services provided. Excess credits are carried forwazd to the following month and the peg balance for that
month is reduced based on these credits. If credits for the month aze insufficient,the following month's peg
balance is raised accordingly. At year�nd excess credits are forfeited or net charges become payable. As
of 7/03/00 we estimate that the City's peg balance would be$508,130.00.
As interest rates in general fall, necessary balances rise since required services tend to remain constant,but
the rate at which credits aze earned fall. Likewise, as rates in general rise, the rate at which credits are
earned increases, and necessary balances fall. We believe that it would be in the best interest of the City to
consider the value of the Variable Balance. We are not aware of any other local institution that offers this
Variable Balance Method.
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J Commerce Bank Cit of Ca e Gir
Y p ardeau
Public Services Division �p
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; All collected funds in the General account on a daily basis, over and above the necessary "peg" balance for
the month, are swept into an over-night investment in either U.S. Treasury Repurchase Agreements or
Federal Agency purchases. Interest earned on these investments is "hard-dollar" and is credited to the
account the next day after 2:00 p.m. There is no charge for sweeping accounts.
The minimum investment for Repurchase Agreements is$100,000 with increments of$1,000 thereafter. U.S.
Treasuries and Federal Agencies with final maturities of less than 10 years are used to secure these
agreements at 102% of current market value, repriced to current market daily. Confirmations of all
transactions listing CUSIP number, par value, market value, issue and maturities are sent daily. Periodic
transaction recaps are available if necessary. All securities are held at the Federal Reserve Bank in Kansas
City through Commerce Bank of Kansas City. The over-night rate is set daily and is generally based on a
percentage of opening Fed Funds as indicated by Reuters Systems. As of 7/3/00, Fed Funds was 7.00%.
We would agree to pay the City Fed Funds less 35 basis points.
If the City chooses to use a zero balance General Account and pay hard dollar fees for services, interest
would accrue daily at our posted repo rate, and an adjustment credit would be given at month-end to
compensate for the rate differential.
We aze also prepared to offer instead, over-night purchases of Federal Agencies. In this instance, the City
outright purchases Federal Agency Discount Notes which mature the following day. The minimum
denomination is$50,000 with increments as low as$1,000 thereafter depending upon the Agency purchased,
and securities are held at the Federal Reserve Bank in Kansas City. The over-night rate is set daily based on
the market.
COLLATERAL
Collateral for all deposits in excess of$100,000.00 which are not swept out of the account will be held in
joint custody at the Federal Reserve Bank in Kansas City Missouri. Securities used as collateral will be
U.S. Treasuries, Federal Agencies or other securities per Missouri Statute. Monthly reports indicating the
issue, CLTSIP number, par and market value are available. Collateral positions are checked weekly and
collateral is either added or releases are sought based upon those balances. We assume that the City
periodically verifies collateral for su�ciency.
The Federal Reserve assesses a$15 per month charge for joint custody accounts. This charge can be added
to the City's Monthly Account Analysis.
We reserve the right to assess a charge of.25%per diem on the par value of the collateral which remains in
excess of 150%of the average monthly ledger balance once we have requested release of same.
July 7, 2000 Page
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Commerce Bank City of Cape Girardeau
Public Services Division g�p
FDIC INSURANCE
Deposits are insured up to $100,000 by Federal Deposit Insurance Corporation (FDIC). Effective January
1997, the FDIC began imposing a new assessment on all U.S. banks and savings and loan associations to
pay the debt service on outstanding Financing Corporation (FICO) bonds. These bonds were issued to
cover the depositors of failed savings and loan associations. These FDIC Insurance assessments are
included in the monthly account analysis at a rate of$.009 per $1,000.00 based on the month end ledger
balance on checking accounts and$.Ol 1 per$1,000.00 on interest bearing accounts.
INVESTMENT&ADVISORY SERVICES
INVESTMENTS
The Public Services Division is prepared to service the City's investment needs. This group currently
handles investments for over 300 Publicly Funded Entities throughout Missouri, Illinois and Kansas. The
Co-Managers of this group have combined experience in dealing with Public Entities in excess of 39 years.
They maintain active memberships in a number of Public Fund Associations including The Government
Finance Officers Association of Missouri, the Missouri Municipal League, Missouri Association of Fire
Protection Districts etc. They are frequently speakers for these organizations.
There is no charge for investment council, securities purchases, or for safekeeping of securities purchased
through the Public Services Division. Please refer to the Safekeeping Fee Schedule enclosed for the fees
associated with securities purchased elsewhere.
CERTIFICATE OF DEPOSIT
Certificates of Deposit will be available to the City for funds that the City wishes to place for periods
longer than one week, with a maximum of 1 year. The rate will be established on the day of the
investment, based on local market rates. We would suggest however that the City consider investing in
U.S. Treasury and Federal Agency securities in lieu of Certificates of Deposit. The City benefits by
increasing the safety,flexibility and return on its investments.
FINANCIAL ADVISORY
The Public Services Group also offers Financial Advisory services. Please refer to the information included
with this bid for a description of the services offered.
July 7, 2000 page
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' Commerce Bank City of Cape Girardeau
Public Services Division RFP
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, DEPOSITORY SERVICES
� DEPOSITS-FUNDS AVAILABILITY
Generally deposits made prior to 2:00 p.m and processed prior to 3:00 p.m. will receive same�lay ledger
� credit. Validated deposit slips will be returned by mail to the City. Please refer to our Funds Availability
policy,which is enclosed.
� DEPOSIT OF COIN AND CURRENCY
� If bulk coin and currency is deposited, the City need only separate the bills and coins into separate bags by
type and include a deposit slip,there is no need to roll the coin. The first$20,000.00 deposited is free,than
a chazge of$.15 per$100.00 deposited will be included in the Monthly Account Analysis.
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CHECKS AND DEPOSIT SLIPS
� Manufacturer's cost is passed through for checks and deposit slips. We can arrange for the City to receive
at an estimate of $20.00 per 200 duplicate deposit slips (3 part@$23.50 per 200) and at an estimate of
$144.00 per 1000 checks or can allow the City to order from the supplier they currently utilize. Charges can
� be included in the Monthly Account Analysis Statement. If the City provides samples of checks currently
utilized for each account, similar checks with consecutive numbers can be ordered for the City. Reorder of
checks is accomplished by a phone call to your Bank Account Officer.
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1vIGHT DEPOSIT DROP
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A Night Deposit Drop is available to the City at the Main Banking Center,located at 160 S. Broadview and
� various other Banking Centers throughout the City. The City need only inform us as to the number of
Locking Deposit Bags necessary. The cost of$20.00 per bag will be added to the City's Account Analysis
Statement. Validated deposit slips and empty bags may be picked up by the City the following day.
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CASH MANAGEMENT SERVICES
� Commerce Bank provides two types of PC-based banking systems: Commerce Connections and Business
Connections for Windows. Both systems provide daily balance and transaction reporting, including float
analysis on deposits,identifications of deposits by type,detail listings of daily check clearings with amounts
� and check numbers, and historical inforn�ation including average ledger and collected balances. With
timely and accurate information on your cash position,investment opportunities are enhanced.
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� Commerce Bank City of Cape Girardeau
Public Services Division �p
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COMMERCE CONNECTIONS FOR WINDOWS
� Detailed reports on lockbox and controlled disbursement transactions aze available through this system. It
also features an automated means to initiate transactions such as wire transfers, stop payments, and ACH
� transactions including corporate direct debits and credits. These services aze modular, allowing you to
select the functions that meet your needs. Transaction modules include AutoWire, AutoStop, AutoACH,
and ACHieve. Convenient dial-up access through a toll-free number is available using almost any personal
computer with a modem. Commerce Connections provides a dependable and secure resource for making
� daily cash management decisions and initiating electronic funds transfers.
AutoStop provides the capability to inquire on the status of a check,place stop payments and even request a
� copy of paid items. AutoWire will enable you to initiate outgoing wires and confirm incoming wires.
AutoACH and ACHieve provide a convenient way to establish ACH credits and debits. In addition,current
day account information can be added to this system Further information on the Commerce Connections
� modules is included.
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� BUSINESS CONNECTIONS FOR WINDOWS
This system has the ability to store up to 250 days of transaction detail and provides a convenient means to
view the previous day's sweep account balance. Business Connections can be used to initiate Direct
� Deposit of Payroll and for internal transfers between your Commerce accounts. In addition, Business
Connections provides a simple method for electronically transmitting tax payments. It also features
� convenient dial-up access through any IBM compatible computer with a modem
Business Connections for Windows Plus gives you the added capabilities of accessing current day account
� information, retrieving a checking account statement, an electronic data interchange statement and ACH
detail reporting. You are also able to create consumer direct debits and credits and issue stop payments.
� FEDERAL TAX PAYMENTS
� Federal Payroll Withholding Tax remittances can be transmitted by the City by using either Commerce or
Business Connections. Commerce dces not transmit this information for you.
� DIRECT DEPOSIT
Commerce Bank has the capability to originate and receive ACH transactions and can, therefore, handle all
� aspects of processing your payroll. For your convenience, Commerce Bank has multiple input methods
available, including Business Connections, ACHieve, AutoACH, PC or Mainframe transmission, or third
party payroll processor. Payroll data can be provided to Commerce Bank in the manner most convenient for
� you. We will be happy to work with you to select the method best suited to your particular situation. A
more complete description of Direct Deposit of Payroll is included with this bid.
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� Commerce Bank City of Cape Girardeau
Public Services Division RFP
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� WIRE TRANSFER
Through the Wire Transfer system, funds can be sent to or collected from bank accounts on a nationwide
� basis. A Wire Transfer is the fastest way to move funds and provides immediate availability on a same day
basis.
� Due to the relative cost, wire transfers are best suited for large dollar transactions. They are particularly
useful in transferring funds to a concentration account, sending and receiving large payments, or managing
shoft-term investments.
� Our full time Wire Transfer department is prepared to move your funds promptly and efficiently. Specific
authorization and confirmation procedures are established with each user. These procedures include
convenient telephone authorization while maintaining complete control over access to your funds. Wire
� Transfers can be made automatically based on standing instructions or can be initiated at your discretion.
ZERO BALANCE ACCOUNT
� To maintain better control and centralize funds, the Zero Balance Account allows special purpose accounts
to maintain a zero balance through automatic transfers to and from a designated "parent" account. It is
especially convenient for payroll accounts. As checks clear the ZBA account, transfers would be made
� automatically from your operating account, eliminating idle funds and manual transfers. A complete
description of zero balance account is included with this proposal. A sample Main Account Statement and
Zero Balance Account statement are included with this bid.
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ACCOUNT RECONCILIATION
� To reduce the clerical effort in reconciling bank accounts, Commerce Bank offers comprehensive Account
Reconciliation Services. We offer a wide range of reconciliation services to meet the unique needs of our
customers. Reconciliation services available range from a paid item file to a full reconciliation. Canceled
� checks can be sorted ($40.00 per month minimum) or list posted or their images captured on CD-ROM.
Data files can be formatted to your specifications and can be provided on diskette or via computer
� transmission. Further infornzation on Account Reconciliation services in included with this bid. Fees for
these services are included in the City's Monthly Account Analysis.
� CHECK IMAGING
Check Imaging is available to provide more efficient azchival of canceled checks. Up to 25,000 checks can
be stored on one CD-ROM. Both the front and back of each check is pern�anently captured. Items can be
� researched quickly and easily with your PC, and imaging provides dramatically better quality. Windows
based softwaze is provided. More infom�ation on Check Imaging is included.
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� Commerce Bank City of Cape Girardeau
Public Services Division RFP
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I BANK STATEMENTS
Bank Statements for each account will be provided to the City, generally within 7-10 business days.
IThrough Commerce or Business Connections,statements can be accessed daily,for the previous day.
I ACCOUNT ANALYSIS
The City is provided a monthly combined itemized account analysis statement indicating services provided,
credits applied, and balances maintained, as well as the hard-dollaz cost of the services provided. Monthly
[ Combined Account Analysis Statements are provided to the City, generally by the second week of the
month. A sample monthly Account Analysis is included with this bid.
� SAFE DEPOSIT BOX
r Safe Deposit Boxes which are subject to availability at the time of request,range in size from 3 x 5 x 21
6 at$20.00 per year to 10 x 10 x 21 at$105.00 per year. Charges can be included in the Monthly Account
Analysis Statement.
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FINANCIAL STATEMENT
� Annual Statement Enclosed.
� OFFICIAL CHECKS
Off'icial checks will be available to the City at $3.00 each. This cost can be included in the Monthly
�' Account Analysis.
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ADDITIONAL SERVICES
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POSITIVE PAY
� Cocrunerce Bank's Positive Pay Service reduces your fraud risk by paying only those checks authorized by
the City. A file listing all issued checks is transmitted to Commerce Bank. Any unauthorized check
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� Commerce Bank City of Cape Girardeau
Public Services Division RFP
� presented for payment will be manually inspected and the City will be notified via fax. The City has the
right to review all exceptions prior to payment. More information on Positive Pay is included with this bid.
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PURCHASING CARD
� The Commerce Bank Purchasing Card is a cost-effective replacement for labor intensive paper-based
systems for purchasing small dollar services and goods. The electronic,card-based system gives purchasing
� depattments the ability to maximize control, minimize costs and reduce delivery and payment cycle times.
Fees for this service are "hard dollar" and cannot be included in the monthly account analysis. These are
based on the annual dollar volume of transactions,the number of transactions and the frequency of payment
� by the City.
� MASTER CARD/VISA/AMERICAN EXPRESS/DISCOVER
Our Commerce BankCard Center provides experienced and efficient credit cazd processing. Our services
� include:equip�nt installation and training,varied processing options,direct telephone access to individual
account teams,a fully staffed,highly trained Help Desk,flexible reporting options,separate departments for
managing chazge-backs and reconciliation and a variety of point-of-sale applications to meet your individual
� need.
Although our equipment can be set-up to accept Discover Card,the discount rate for these transactions is set
and charged by the Discover organization.
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� CREDIT CARDS
� Credit Cards will be available to the City with an annual fee of$30.00 each. This is a hard-dollar chazge
and cannot be included in the City's Account Analysis.
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� CONTROLLED DISBURSEMENTS
� Controlled Disbursement is a cash management service, which allows you to maximize utilization of cash
resources by providing daily notification of the checks that will be presented against your account. Through
use of Commerce Connections, you can access your disbursement amounts as early as 9:00 a.m., and get a
� daily total by 10:00 a.m With Controlled Disbursement, your disbursement account will be maintained at
Commerce Bank of Hannibal with your primary account at Commerce Bank serving as your "funding"
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� Commerce Bank City of Cape Girardeau
Public Services Division RFP
� account. Funds will be automatically transferred from your main account at Commerce Bank to cover the
checks, which have been presented. Your Controlled Disbursement account begins and ends each day at a
� zero balance. Please see enclosed Corporate Analysis Pricing Schedule for fees associated with this service.
� STOP PAYMENTS
� Stop payments may be accomplished with a phone call from the City. Fees for stop payments are$20.00
each or $15.00 with Commerce Connections. Please see Commerce Connection paragraph. Stop
payment fees can be mcluded in the City's Monthly Account Analysis.
� ELECTRO1vIC DATA INTERCHANGE
� Commerce Bank has invested in the hazdware, software and people to provide you with a broad range of
EDI services. We can accept and deliver electronic files via PC's, mainframe or third party VAN's. We
�' can also receive transmissions for you and translate those files into forn�ats specified by you. Unlike value
'� added networks (VANs), Commerce Bank can transfer and receive funds to and from your suppliers with
the EDI infom�ation intact. This allows for a better automation of accounts payables and receivables. Our
� pricing for this service is customized for each customer and will be addressed in a separate proposal when
we fully understand your needs.
� INSURANCE
� Commerce Bank, N.A. is a member of the FDIC and as such is covered by insurance for deposits up to
$100,000.00 according to the FDIC Insurance Act of 1933 and subsequent amendments. In addition all
� Commerce Bank Officers and Employees are covered by a Comprehensive Corporate Fidelity Bond and
must adhere to a strictly enforced Code of Ethics.
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� EMPLOYEE ACCOUNTS
� Commerce would be pleased to offer the City's Employees a complete menu of banking services including
checking accounts and money market accounts (many of which require no minimum balances), safe deposit,
� consumer loans and On-Line PC Banking. Information about these services is included with this bid.
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� Commerce Bank City of Cape Girardeau
Public ServiCes Division RFP
� Commerce offers a variety of services that may be of interest to the City such as:
� *Employee Benefits Management
*Municipal Lease/Purchase Services
* Short/Long-Term Financing
ETC.
� Descriptions of these services are included.
� Additional services that the City ma choose would be sub'ect to our then current Cash Mana ement Price
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, Schedule(copy enclosed)and required balances or charges would reflect these additional services. Fees for
� all services are subject to periodic change,however the City will be given sufficient notice of such changes.
. All requests for services to the City not herein specifically addressed will be subject to negotiation at the
time of the request.
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� City of Cape Glrardeau
Proforma Account Analysis
Jun-00
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BALANCE SUMMARY
� Average Ledger Balance $508,130
Less: Average Float $0
Average Collected Balance 508,130
� Less: Reserve Requi�ement of 10% $50,813
Net Coilected Balance 457,317
Eamings Ailowance(1)' � 5.576°/a $2,096
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� Balance
Services Perfonned Volume Unit Price Total Price Required
Acoount Maintenance 6 7.5000 45.00 10,910
� ZBA Maintenance 1 10.0000 10.00 2,424
FDIC Insurance $M (2)` 508 0.0090 4.57 1,108
Debits Posted 1,000 0.1200 120.00 29,093
� Debits Posted 433 0.1100 47.63 11,547
Credits Posted 208 0.1500 31.20 7,564
� �t�sit-�.�5:
items Deposited 14,375 0.0900 1293.75 313,658
Redear Deposfted Items 17 1.5000 25.50 6,182
mm.r.e .nnnectic�nc Mod�I.a:
Business Connections 1 40.0000 40.00 9,698
�. Current Day Reporting 1 25.0000 25.00 6,061
Wire Transfer 6 6.0000 36.00 8,728
� Acco�nt Reconcitiation�
Chedc Sort Maintenance 4 40.0000 160.00 38,791
. Additional Statements 3 4.0000 12.00 2,909
A�H:
� ACH Monthly Mai�tenance 1 25.0000 25.00 6,061
ACH Items Originated 350 0.1000 35.00 8,485
ACH Credits 2 0.1200 0.24 58
ACH PC Transmission 2 2.5000 5.00 1,212
� E01 Report 1 15.0000 15.00 3,637
Controlled Disbursement 1 150.0000 150.00 36,366
Collateral Charge 1 15.0000 15.00 3,637
� TOTAL COST OF SERVICES $2,095.89 $508,130
ADDITIONAL BALANCES REQUIREO ($0.00) ($0)
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(1) Eamings Allowance is based on a four week average of the 91 day Treasury Bill rate.
(2) FDIC is calculated as$.009 per$1,000 of ledger balance.
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City Of Cape Girardeau
� BANKCARD PROCESSING WITH COMMERCE BANK
METHOD OF PROCESSING ETC-Retail
� DISCOUNT RATE on VISA/MasterCard sales 3.52%
(Minimum: $20.00/Mo)
� BASIS FOR PRICING:
Annual Sales $68,000.00
Average Ticket $ 25.00
� This price quote is valid for 60 days only. Once a signed agreement is reached for processing,
fhe price is guaranteed fo�one year. However, the Bank shal!raise the discount rate to olfset changes in
Nafiona! System Fees, made by V/SA U.S.A., Inc. and/or MasterCard Intemafiona! Incorporated.
� Charges will be assessed at the discount rate on Gross Vo/ume. Transactions must qualify for VISA
CPS/Retai! and MasterCarrl Merit lll lnterchange. This means fhat all transactions must be swiped,
aufhorized and deposited wifhin two ca/endar days. This prrcing is not final and is subject to further
review upon receipt of company's financial statements.
�
OTHER ITEMS:
� • AMEX Auth/Capture (if appiicable) $0.16/item
• Discover Auth/Capture(if applicable) $0.16rtem
• Amex/Uiscover-Split Dial (If applicable) $0.09rtem
� Chargeback Fee(if applicable) $18.00rtem
Monthly Maintenance Fee $7.50/location
� Non Commerce Bank Depository Fee $ 10.00/month
Account Set Up Fee $50.00
� EQUIPMENT COST:
Purchase
Verifone Tranz 380 Terminal $425��
Verifone Printer 250 $260.00 3
Imprinter $ 17.00
� Omni 3200 $500.00
' The applicable sales lax will be added fo the price of the equipment.
� 2 lncludes one year warranty. $60.00 repair charge applies after warranty.
3 Lease options on a Tranz 380, 24 months. $34.00, 36 months$24.00 and 48 months$20.00.
Lease options on a Printer 250, 24 months$20.00, 36 months$17.00 and 48 months$94.00.
� Merchant may purchase supplies from Commerce Bank. Merchant will be charged fhrough a
debit of the checking account for supplies.
�
ADDITIONAL FEATURES:
� • Local and 800#Support NO CHARGE
• Monthly Summary Reports NO CHARGE
� AVAILABILITY OF FUNDS:
MasterCardNisa funds will normally posf as co!lected funds into a business account at
� Commerice Bank the day following settlement. If a batch is closed after 6:00 pm C.S.T., the
funds will normally be in your checking account in iwo business days after seltlement.
Shaune Zander June 30, 2000
� Sr.Account Representative Commerce Bankcard Department
� ,
� Commerce Bank, NA
Cash Management Price Schedule
� September, 1999
� Comme�cial Checkinq Accounts lnformation Repo�fing
Account Maintenance $7.50 Business Conneclions $25.00
Zero Balance Account(add!) $10.00 Commerce Connectio�s
Controlled Disburseme�t $150.00 Monthly Base Charge y40.00
� •FDIC Insurance(per$100) $0.009 Balance RepoRi�g/Tra�sadio�Detail y25.00
Current Day $10.00
Deposit Activity Baiance History g20.00
Credit Transactions-Deposits $0.15 Cash Concentration(per bcation) $12.00
� Items Oeposited $0.09 DDA Statements s3.00
Proof Corredion 53.50 E01 Statement $15.00
Connections ACH $10.00
Wire Moduie No Charge
Disbursement Activify-Checks outyoin9 �6.00
1st 1,000 $0.12 Intemal s1.50
� Over 1,000 $0.11
Return/tems
� Retum Deposited Items 53.00
ReGears bi.5o Electronic Banking Services
Telephone NoGficaGon $4.00 Pre-Aufhorized OebitsM.�edits
Mo�thly Maintenance $25.00
� Other Depository Services Per ACH Item go.10
Ledger Overdrafts
Per Day a11-00 ACH'�eve PC Origination
Per Item y20.00 Monthly Maintena�ce a25.00
� Negative CoUected Balance Prime+3°k Transmission Fee a2.50
Retum NSF-Per Item $20.00
Stop Payments-Manual $20.00 Electronic Oata Interchange(EDI) Custom
Stop Payments-Automated 515.00
Additional StatemeMs $4.00 ACH Tape Handfing $20.00
� Custom Statement Schedule(addl) 512.00 ACH Tra�missio� $5.00
Hold Stateme�ts �7.50 ACH Retum Items �2.50
Audit Confirtnations 512-50 ACH Automatic Redears 51.50
Cash Oeposit Processing(per 5100) 50.15 ACH Retum Item NotificaGon $4.00
� Coin(per roll) 50.08
CuRencey(per strap) $025
�re Transfer-Telephone
Account Recor�,^,Ilafion Incoming $6.00
� Image ARP putgoing Repetitive �10.00
Monthly Maintenance a25.00 Outgoing Non-RepetiGve �12.00
Per CD-ROM 515.00 Intemal Transfer Repetitive $3.00
Per Item 50.03 Intemal Transfer Non-Repetitive $4.00
Partial Reconcilation NoGficaGon $4.00
� Monthly Minimum E40.00
Per item So.oa Lockbox-Wholesale/Retai/
Full Reconcilation Monthly Minimum $175.00
Monthly Minimum $60.00 Addl Boxes g100.00
� Per Item $0.06 Per Item Custom
Positive Pay
Monthty Minimum $so.00 Earninqs Credit Rate
Pe�Item 50.07 Balances over 5100,000 98°k of T-Bill Rate
Check Sorting Balances between 525,000 8�$100,000 90%of T-Bill Rate
� Monthly Minimum g40.00 Balances under 525,000 75%of T-Bill Rate
Per Item $0.04
� 'Subjed to charge wittwut nol�cation
�
�
CITY OF CAPE GIRARDEAU
RFP FEE PROPOSAL
PART TWO
1. Stanciard Scrvices
Average
Unit Yearly Annual
Cost Activi Cost
7.50 6 540.00 Monthly account maintenance fee
0 1 0 Monthly Overnight Repurchase Agreement maintenance fee
0 0 0 Weekly statements for the operating account with
monthly statements for the other accounts listing daily
deposits,withdrawals, and balances
0 0 0 Daily Repurchase Agreement statements
Numeric sorting of cancelled checks for the operating
account enclosed with the weekly statements
15.00 5 75.00 Stop payment servicelAutomated
_ 1.50 200 300.00 Returned checks/Recleared
6.00 75 450.00 Wire transfer service/Automated
Cost 273.00 Imprinted deposit slips/Estimated
Cost Imprinted checks for the municipal court bond appearance
account and community development accounts (approximately
5 accounts)
100.00 12 1200.00 payroll ACH direct deposit monthly maintenance fee*
.10 26 455.00 payroll ACH direct deposit processing (average activity is 175
items per payroll)+$2.50 per payroll transmission
*1 A/C using Business Connections for Windows+
;
9
Average
Unit Yearly Annual
Cost Activitv Cost
0 12 0 Monthly account analysis report showing overall activity
0 12 � Monthly report summarizing the market value of all pledged
securities
See MCNisa proposal enclosed
� 335 Cost for processing Master Card/Visa transactions
.15 2.500 375.00 Credit entries
17.200 2,012.00 Debit entries, 1S` 1000 per month .12 ea. over 1000 .11 ea.
.09 65.175 5.865.75 Deposited items -on us
.09 107.317 9.658.53 Deposited items -other
Cost Deposit bags Locking$20 ea. Zippered$2.50 ea.
3:00 Occasional bank money orders and cashiers checks
cost Travelers checks for City employees for trips relating to
official business only
� 0 0 0 Night depository service
2. Overnight Repurchase Agreement
The interest will be calculated on an actual over 360-day basis.The rate will be indexed to
the average Federal Funds rate as published in the Federal Reserve Bank, U.S.Financial Data, of
the preceding week plus or minus -35 basis points.
i 3. Pledged Collateral Agreement
�!
�' Attach to the RFP a copy of a Pledged Collateral Agreement that will be entered into by the
City of Cape Girardeau and the proposing financial institution.
i
� 10
� .
�
�
� �
� 4. Repurchase A eements
�
� Repurchase agreements will be collateralized at 102 %
The following is a description of the securities that will be used for repurchase agreements and
� how and where they will be held.
U,S Treasuries, Federal Agencies or any securities currently allowable under state statute
�
�
�
�, 5. Daily Deposits
rThe proposer agrees to accept and give same day credit as "good ledger funds" for all
� " deposits made by the following times at the following branches:
�
Name of Branch Address Time
Semo Bankin Center 388 North Henderson 2:00 PM processed by 3:00
�• Main Bankin Center
160 So. Broadview "
North Bankin�Center 1800 Cape Lacroix Rd. "
Jackson Bankin Center 2025 East Jackson "
�, 6. Safekeeping
�' The following is a description of the proposer's safekeeping services and ttie related fees
to be charged for this service.
� No charge for securities purchased through Commerce's Public Services Division
See enclosed safekeeping fee schedule for securities purchased elsewhere
�
�
� 11
�
� .
� 7. 0 tional
p Services
� The following is a description of the proposer's ability to originate ACH direct deposit for
utility customers to pay monthly utility bills to the City and the related fees to be charged for this
� service.
See "Account Structure" under business Connections for Windows Plus
� &Electronic Data Interchan�e
Estimated cost includes Connections Maintenance$65.00, EDI Report$15.00, $2.50 per PC
Transmission and$.10 per ACH item
Actual costs can be determined with a better understanding of the City's needs.
�
8. Depository Schedule
� The level of available funds will be deternuned on the followin schedule:
g
� a. Items on the depository, wire transfers, ����, will be cash SAME DAY
b. Items on local institutions will be cash NEXT DAY, ACH items Next Day
c. Other items FEDERAL RESERVE AVAILABII.TTY
� The following is an outline of the availability schedule offered by the proposer's institution
(only provide schedule if the schedule above is not offered or faster clearing services are
available.)
�
See Availability Schedule Enclosed
�
�
9. Monthly Billing
�- Payment for all services will be billed to the City monthly either by invoice or by using the
monthly account analysis. If this is not feasible, the attached billing method is proposed.
� . 10. Contact Personnel
� The following two people will be designated as contact persons for any questions the City
may have regarding its accounts:
� Name Telephone Number
Roger Tolliver 573-986-7001
�.
MarQ Mack 800-442-1083
� 12
� .
�
� 11. Additional Services
� The following explains any additional or alternative services offered by the proposer and all
charges associated with these services.
� See "Account Structure" and Cash Management Price Schedule enclosed.
�
�
�
�
�
�
�
�
�
�
�
�
�
� 13
�
r
� We have read the City of Cape Girardeau's Banking Services Request for Proposal and fully
understand its intent. We certify that we have adequate personnel, equipment, and facilities to
� fulfill the requirements thereto. We understand that our ability to meet the criteria and provide
the required services shall be judged solely by the Finance Department. It is understood that all
� information included in, attached to, or required by this RFP shall become public record upon
its delivery to the City Finance Department.
We have included the following with our proposal
� �-Call re orts for the ast two ears.
P P Y
� 2. Audited annual financial reports for the past two years.
3. Current copy of a(CRA)Community Reinvestment Act evaluation.
4. Completed Part Two -RFP Fee Proposal Fon-n with required attachments.
rSubmitted by: Commerce Bank N.A. 7-7-00
Financial Institution
� Date
Community Bank President
� Authorized Signature Title
� i Authorized Signature Title
r
� 573-986-7001
Telephone Number
�
�
�
�
�
� 14
�
', �
CITY OF CAPE GIRARDEAU
BANKING SERVICES REQUEST FOR PROPOSAL
PART ONE
The City of Cape Girardeau invites qualified local financial institutions to submit
proposals for the providing of basic banking services as described in the attached
specifications. This contract is for the period of August 1, 2000 through June 30, 2002.
Banking services may begin after August 1, 2000 due to possible conversion issues.
Biddin�Instructions
1. Sealed Proposals
A proposal must be submitted in a sealed envelope bearing the title "City of Cape
Girardeau Banking Services"along with the proposer's name and address. The proposer
shall return the completed Proposal Forms along with the other requested information no
later than 11:30 a.m. on July 7, 2000 at the City Finance Department, City Hall, 401
Independence Street, Cape Girardeau, Missouri 63703. It is the proposer's responsibility
to ensure that the proposal arrives on time at the right place. Any proposals received
after the above time will be disqualified.
2. Proposal Form
A proposer shall use the attached RFP Fee Proposal Form, or copies thereof in
submitting a proposal. It is required that the proposal be completed in its entirety. If a
service requirement cannot be met by a proposer, then the term "No Proposal" should be
entered on the Proposal Form for that specific requirement. In the case of a"No
Proposal"remark, the proposer may offer an alternative equivalent service. A proposer
may submit multiple and alternative equivalent proposals for any and all of the banking
services.
3. Public Information
All submitted proposals and information included with the request for proposal shall
become public record upon their delivery to the City Finance Department.
4. City's Contact
The City's Finance Director shall be the contact person with any or all aspects of this
request for proposal.
1
���LJ� f �
Terms and Conditions
1. Location
A proposer must be a federally or State of Missouri chartered financial institution with
branch facilities located within the city limits of the City of Cape Girardeau. If the
headquarters of the proposer is not located within the city limits, a branch facility of the
proposer located within the City must be able to offer the full range of banking services
required by this request for proposal. Any question as to whether a proposer meets this
qualifying condition may be submitted to the Finance Director in writing prior to submission
of a proposal.
2. Contract Period
The selected institution shall be designated as the City's legal depository for an initial
23 month term beginning on August 1, 2000. The depository contract shall contain three (3)
automatic renewal options for a one-year term each which may be exercised by the City. Fees
for services during these periods may be adjusted by the financial institution but in no event will
fees be allowed to increase by a greater percentage than the change in the consumer price index
for the year ending in the month of March before the renewal term or be allowed to amount to
more than the institution's cunent commercial customer fee scale.
3. New Accounts or Services
If the City develops a need for additional accounts or services during the life of the
depository agreement, those new accounts or services shall be provided with the same conditions
as apply to existing accounts at the time.
4. Cancel(ation of Contract
Either party may terminate the depository agreement by giving ninety (90) calendar days
written notice to the other party of its intention to terminate the agreement. A decision to
terminate the depository contract may not be as a result of an offering of a lower price from
another bank during the contract period. Any changes, modifications, or amendments to this
agreement must be in writing and signed by both parties and made a part thereof. In the event
the banking institution fails to carry out and comply with any of the terms of this agreement, the
City may notify the banking institution of such default and demand that the same be remedied
within ten(10) calendar days, and in the event of failure of the banking institution to do so
within the said period, the City shall have the right to cancel the agreement without further
notice.
2
5. Execution of Agreement
If a financial institution does not execute an agreement within twenty (20) days after being
notified of selection, the City may give notice to the financial institution of the City's intent to �
select the next most qualified proposing bank or call for new proposals, whichever the City
deems most appropriate.
6. Award of Contract
The City of Cape Girardeau Banking Services Contract is expected to be awarded at
the July 17, 2000 City Council meeting.
Desired Banking Service Structure
1. Account Structure
a. Operating Account
All city revenues except grant funds and protested taxes would be deposited into this
account. All city check disbursements for accounts payable and payroll would clear through this
account. The City issues approximately 350 payroll checks on Friday on a biweekly basis.
During the summer months this could range to 450. The City currently issues approximately 650
accounts payable checks per month. The operating account would be a zero balance account
with any collected funds being used to purchase overnight repurchase agreements.
b. Overnight Repurchase Agreement
The following will be required of the Overnight Repurchase Agreement that will be made
available to the City as part of this proposal:
1. Interest Rate- The rate will be indexed to the average Federal Funds rate as published
in the Federal Reserve Bank, U.S. Financial Data, of the preceding week. The minimum
acceptable rate will be the Federal Funds Rate minus 35 basis points. The interest basis will be
calculated on an actual over 360 day basis. Interest will be deposited daily to the City's
operating account.
2. Minimum Balance- It is the City's intent to maintain the repurchase agreement at
a balance of at least$1 million. The balance of this agreement has ranged from approximately
$11,140 in August 1999 to $4.3 million in February 2000.
3. Repurchase Advice- A Repurchase Agreement Customer Advice for each transaction
will be provided daily to the City with the following information:
3
a. Date.
b. Amount of purchase or sale.
c. Beginning and ending amount of Repurchase Agreement.
d. Interest rate earned that day.
e. Account interest was deposited to.
f. Collateral list comprised of a description of the securities, market price, and
market value.
4. Master Repurchase Agreement- The City will require the depository to enter into a
Master Repurchase Agreement as developed by the Public Securities Association for the
Overnight Repurchase Agreement.
c. Protested Tax Account
This account would be an interest bearing account. All receipts from protested taxes
would be deposited into this account until the issue on which the taxes are protested are settled.
The funds would then be transferred to the operating account.
d. Community Development Accounts
These accounts would be used to receive those grant funds for which the State or U.S.
Government regulations prohibit the City from earning interest income. Therefore,these
accounts would be non-interest bearing accounts.
e. Municipal Court Appearance Bond Account
This account would be a non-interest bearing account consisting of an average of 20
deposits and 60 check disbursements per month.
2. Investments
The City will continue the practice of bidding and investing part or all of its surplus or excess
funds outside the depository agreement which arises from this request for proposal. From time
to time, the City may desire to purchase government securities through the depository, therefore
the request for proposal should state if there will be any service or safekeeping charges for these
purchases or securities purchased elsewhere.
4
In addition, the City expects to enter into Term Repurchase Agreements for certain funds
with the City's depository institution. Rates for these agreements will be negotiated. All
requirements that apply to the Overnight Repurchase Agreement will apply to the Term
Repurchase Agreement.
3. Depository Schedule
The level of available funds will be determined on the following schedule:
a. Items on the depository, wire transfers, ACH deposits, will be cash SAME DAY
b. Items on local institutions will be cash NEXT DAY
c. Other items FEDERAL RESERVE AVAILABILITY
The above schedule shall be the maximum clearing schedule. If the bank can offer faster
clearing services, they should be outlined in the proposal. If a proposer is using an availability
schedule other than the Federal Reserve Schedule, a copy must be attached to the proposal.
The available collected funds balance in the operating account will be available by 9:00
a.m. if needed by the Finance Director's staff. When this information is not available for the
staff at the specified time,the staff will make investments according to their estimates of the
account balance. The City shall not be charged or penalized over the rate of compensation if an
overdraft results because of account balance information not being available at the specified
time.
All funds held on deposit shall be secured by collateral according to rules and procedures
established by Sections 110.010 and 110.020 of the Revised Statutes of Missouri. Please include
a copy of a pledged collateral agreement that you would propose to enter into with the City.
4. Banking Services
a. Reconciliation
A weekly statement for the operating account must be provided to the City with
documentation supporting all entries on the statement including cancelled checks within three
(3) business days after the last working day of the preceding week. All other accounts may be on
a monthly basis with statements provided to the City within five (5) business days after the last
calendar day of the month. Cancelled checks shall be sorted in numerical order for the operating
account only. Sorting is not required for the other accounts.
A Repurchase Agreement Customer Advice for the overnight repurchase agreement must
be provided to the City on a daily basis.
5
b. Return Items
Return items should be presented twice and if returned a second time, promptly charged
against the operating account and delivered to the City.
c. Printing
The City will provide checks for payroll and accounts payable with the proposer
providing checks for the municipal court appearance bond account and the community
development accounts. Deposit slips will be provided by the proposer.
d. Wire Transfers
The financial institution shall maintain wire transfer facilities to the Federal Reserve
Bank for investment purchases or sales and other transactions with commercial banks. Wire
service credit or debit notices must be included with the account statements.
e. Deposit Services
The financial institution shall identify all branch(es) and time(s) at which deposits will
receive credit as good ledger balance funds for the same day.
f. ACH Direct Deposit
The financial institution will act as the originator for the City's payroll direct deposit
through the ACH direct deposit system. Transactions can be transmitted directly to the financial
institution on a bi-weekly basis or can be provided on a floppy disk.
g. Credit Card Processing
The City currently utilizes two credit card processing accounts, one at the Jaycee
Municipal Golf Course and the other combines two locations the Arena Building and the Osage
Community Center. The Master CarcWisa charge slips are transmitted to the financial
institution for processing via electronic transfer. The average yearly volume is $68,000 with
2,200 average transactions. The City requires next day credit for credit card transactions.
h. Safekeeping
The selected financial institution may be used as the City's custodial agent in charge of
safekeeping its investment securities. The agent institution shall control the securities through its
own safekeeping department, through any corresponding bank with which it deals regularly, or
through the Federal Reserve Bank of St. Louis system. All proposals should identify where
safekeeping facilities will be located and what banks are used as correspondent banks. Proposals
shall clearly specify services to be performed and the cost of the service.
6
i. Account Analysis
A monthly account analysis report showing overall activity in all City accounts shall also
be provided to the Finance Director within eight (8) business days after the end of each calendar
month. This report shall include a monthly analysis of the service fees charged for handling the
City's accounts.
j. Resource Personnel
The financial institution shall identify personnel in its operations department who are
available to answer questions pertaining to transactions which require more detailed explanation.
Optional Banking Services
The City requests the proposing financial institution to describe fully its ability to originate
ACH transactions for the City's utility customers. The City currently has a customer base of
14,500 billed according to weekly cycles each month. The City currently does not offer this
service to utility customers. Proposals shall specify the origination costs and monthly
maintenance fees for the optional service.
Compensation
Compensation shall be provided on a direct fee basis only. Fees should be calculated on a
monthly basis and charged to the City by invoice. The monthly account analysis may be used as
the invoice.
Evaluation Process
1. Criteria
Criteria for the evaluation of qualified proposals will be based on the following:
- Completeness of proposal
- Financial strength and capacity of the financial institution
- Quality of services
- Greatest financial benefit to the City
2. Right to Reject
The City reserves the right to reject any or all proposals, waive any non-material
7
irregularities in the request for proposal, and to accept or reject any item or combination of items
3. Advisory Committee
The Finance Director and staff will judge the proposals and make a recommendation to the
City Council. The City Council will make the final selection decision.
8
CITY OF CAPE GIRARDEAU
RFP FEE PROPOSAL
PART TWO
1. Standard Services
Average
Unit Yearly Annual
Cost Activity Cost
6 Monthly account maintenance fee
1 Monthly Overnight Repurchase Agreement maintenance fee
Weekly statements for the operating account with monthly
statements for the other accounts listing daily deposits,
withdrawals, and balances
Daily Repurchase Agreement statements
Numeric sorting of cancelled checks for the operating account
enclosed with the weekly statements
5 Stop payment service
200 Returned checks
75 Wire transfer service
Imprinted deposit slips
Imprinted checks for the municipal court bond appearance
account and community development accounts (approximately
5 accounts)
12 Payroll ACH direct deposit monthly maintenance fee
26 Payroll ACH direct deposit processing (average activity is 175
items per payroll)
9
Average
Unit Yearly Annual
Cost Activity Cost
12 Monthly account analysis report showing overall activity
12 Monthly report summarizing the market value of all pledged
securities
335 Cost for processing Master Card/Visa transactions
2,500 Credit entries
17,200 Debit entries
65,175 Deposited items—on us
107,317 Deposited items—other
Deposit bags
Occasional bank money orders and cashiers checks
Travelers checks for City employees for trips relating to
official business only
Night depository service
2. Overnight Repurchase Agreement
The interest will be calculated on an actual over 360 day basis. The rate will be indexed to
the average Federal Funds rate as published in the Federal Reserve Bank, U.S. Financial Data, of
the preceding week plus or minus basis points.
3. Pledged Collateral Agreement
Attach to the RFP a copy of a Pledged Collateral Agreement that will be entered into by the
City of Cape Girardeau and the proposing financial institution.
10
4. Repurchase Agreements
Repurchase agreements will be collateralized at %.
The following is a description of the securities that will be used for repurchase agreements
and how and where they will be held.
5. Daily Deposits
The proposer agrees to accept and give same day credit as "good ledger funds" for all
deposits made by the following times at the following branches:
Name of Branch Address Time
6. Safekeeping
The following is a description of the proposer's safekeeping services and the related fees
to be charged for this service.
11
7. Optional Services
The following is a description of the proposer's ability to originate ACH direct deposit for
utility customers to pay monthly utility bills to the City and the related fees to be charged for this
service.
8. Depository Schedule
The level of available funds will be determined on the following schedule:
a. Items on the depository, wire transfers, ACH deposits, will be cash SAME DAY
b. Items on local institutions will be cash NEXT DAY
c. Other items FEDERAL RESERVE AVAILABILITY
The following is an outline of the availability schedule offered by the proposer's institution
(only provide schedule if the schedule above is not offered or faster clearing services are
available.)
9. Monthly Billing
Payment for all services will be billed to the City monthly either by invoice or by using the
monthly account analysis. If this is not feasible, the attached billing method is proposed.
10. Contact Personnel
The following two people will be designated as contact persons for any questions the City
may have regarding its accounts:
Name Telephone Number
12
11. Additional Services
The following explains any additional or alternative services offered by the proposer and all
charges associated with these services.
13
We have read the City of Cape Girardeau's Banking Services Request for Proposal and fully
understand its intent. We certify that we have adequate personnel, equipment, and facilitities to
fulfill the requirements thereto. We understand that our ability to meet the criteria and provide
the required services shall be judged solely by the Finance Department. It is understood that all
information included in, attached to, or required by this RFP shall become public record upon its
delivery to the City Finance Department.
We have included the following with our proposal:
1. Call reports for the past two years.
2. Audited annual financial reports for the past two years.
3. Current copy of a(CRA) Community Reinvestment Act evaluation.
4. Completed Part Two—RFP Fee Proposal Form with required attachments.
Submitted by:
Financial Institution Date
Authorized Signature Title
Authorized Signature Title
Telephone Number
14