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Ordinance No. 5,998910912 -16 ORDINANCE N0. 5998 AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS, SELECTING A CITY DEPOSITORY; AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE AND ATTEST TO A CONTRACT WITH THE SELECTED DEPOSITORY; AND PROVIDING FOR THE EFFECTIVE DATE HEREOF. WHEREAS, pursuant to the provisions of TEX.L.GOV'T.CODE ANN. S 105.002, the City of Baytown is authorized to receive applications for the custody of City funds from any banking corporation, association, or individual banker doing business within the City that may desire to be selected as depository of the City; and WHEREAS, notice that such applications would be received on the 2nd day of September, 1991, was published pursuant to TEX.L.GOV'T.CODE ANN. S 105.002, on the 19th and 26th day of August, 1991, which is not less than one week nor more than four weeks before such date and notice was personally given to each banking corporation in the City of Baytown; and WHEREAS, pursuant to TEX. L.GOV'T.CODE ANN. S 105.014, the governing body is to select as depository the banking corporation, association, or individual banker offering the most favorable terms and conditions for the handling of the City's funds; and WHEREAS, the City of Baytown did receive applications from banking corporation, associations, and /or individual bankers doing business within the City to serve as the depository of the City funds; and WHEREAS, the City Council deems that Baytown State Bank has offered the most favorable terms and conditions for the handling of such funds; NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF BAYTOWN, TEXAS: Section 1: That the City Council hereby finds that Baytown State Bank has offered the most favorable terms and conditions for the handling of the City's funds. Section 2: That Baytown State Bank is selected as the Depository of the City of Baytown, Texas, consistent with the terms and provisions of its application. Section 3: That the Mayor and City Clerk are hereby authorized to execute and attest to a contract with Baytown State Bank, said contract setting forth terms and conditions consistent with the application that was submitted. The contract is attached as Exhibit ffA," and made a part hereof. 910912 --16a Section 4: This ordinance shall take effect from and after its passage. INTRODUCED, READ and PASSED by the affirmative vote of the City Council of the City of Baytown, this the 12th day of September, 1991. MAR LG DO, 7or Pro Tempore ATTEST: EILEEN P. HALL, City Clerk —d e " 'O. p I, SR., y Attorney C:1:72:1.7 BANKING SERVICES CONTRACT CITY OF BAYTOWN THE STATE OF TEXAS . COUNTY OF HARRIS . This Contract and agreement is made and entered unto by and between the City of Baytown, a municipal corporation, hereinafter sometimes referred to as "City," located in the County of Harris, State of Texas, and Baytown State Bank, Harris County, Texas, hereinafter called "Bank" or "Service Bank." WITNESSETH: WHEREAS, bids were received in response to an Invitation to Bid for Banking Services for the City of Baytown; and Whereas, Baytown State Bank was duly selected, qualified, and designated as the Service Bank for the City, to serve in such capacity for the term commencing on the 1st day of October, 1991, and ending on the 30th day of September, 1993. NOW THEREFORE, it is agreed by the parties hereto, as follows: 1. That pursuant to the action taken by City on the 12th day of September, 1991, Baytown State Bank is selected and designated Service Bank for the period from the 1st day of October, 1991, to the 30th day of September, 1993, and thereafter until the successor Service Bank shall have been duly selected and qualified according to law. 2. That in consideration of said election as Service Bank, and the further consideration as stated in the "Bid 1 � � Form" attached hereto as exhibit "A" the said Service Bank covenants and agrees to faithfully perform all of the duties thereof, as provided by the laws of the State of Texas and the United States and all regulations of Commissions and Agencies established thereunder and will safely keep and faithfully disperse all funds coming into it as Service Bank, and faithfully pay over to the successor, all funds remaining in the depository, and does guarantee and indemnify City against all loss, cost or expense, including a reasonable attorney's fee, arising out of or related to the failure to perform duties imposed by law or this Contract. The term "funds" shall be considered to mean all cash, securities and investments, sinking funds, trust funds, and other funds or assets that may come into the possession of said Bank. 3. The Bank states that it is a banking institution chartered under the laws of the United States or of the State of Texas. 4. The Bank shall operate the four City accounts as follows: (a) Concentration Account: (1) All City receipts, except those for the insurance account, will be deposited into this account. The Bank shall transfer on a daily basis an amount necessary to cover the checks presented in the zero balance accounts. At the end of each day the Bank will 2 automatically invest the collected cash balance in the concentration account at the "Overnight Investment Rate." (2) The Bank shall give same day credit on collectible funds the Bank receives before 2:00 P.M. The Bank shall credit the concentration account in accordance with the Bank's availability schedule (a copy of which is attached to this contract as exhibit "B "). (3) The Bank shall provide printed bank statements for the concentration account on a monthly basis within five business days from the end of each month. The monthly statement shall include return of all canceled checks, debit and credit memos, and deposit tickets. (4) The Bank shall automatically redeposit the first time returned items of seventy -five ($75.00) dollars or less. (5) The Bank shall wire funds out of the concentration account to various vendors, paying agents, and brokers upon telephone instructions from authorized City personnel. The Bank shall assign "personal identification numbers " (PIN) to each City employee authorized to initiate wire transfers. The list of authorized employees will be provided by the City Finance Director. The City will 3 notify a designated person at the Bank by 11:00 A.M. The Bank shall trace from origin to destination all wire transfers ordered by 11:00 A.M. and not received by the destination party by the close of business. if necessary, the Bank shall make adjustments for any lost interest or charges resulting from a "fail" to consummate a transfer. All transfers shall be made using the Federal Reserve System unless otherwise instructed by the City. (6) The Bank shall accept incoming wire transfer of funds for sale of securities, interest payments and receipts from various governmental agencies. The funds from these incoming wire transfers shall be "available for investment" either by the City or by the Bank through the overnight investment agreement. (7) The City will telephone the Bank as needed to inquire about the ledger and collected balance in the concentration account. (b) Vendor Zero Balance Account: (1) All vendor disbursements will be paid from this zero balance account. (2) The Bank shall provide the necessary check stock for this account. Vendor checks shall be two part (NCR Copy) continuous forms on protective safety stock; all checks to be 4 prenumbered. (3) The Bank shall provide printed bank statements for the vendor zero balance account on a monthly basis within five days business from the end of each month. The monthly statement will include return of all canceled checks, debit and credit memos, and deposit tickets. (4) The Bank shall return all paid checks to the City with their respective bank statements and these checks shall be fine sorted in ascending numerical order. (5) The Bank shall accept stop payment orders upon telephone communication from authorized City personnel (to be furnished by the Finance Director). The City will provide written confirmation of the telephone transaction and the Bank shall provide confirmation of the stop payment. (c) Payroll Zero Balance Account (1) All semi - monthly City payroll checks will be paid from this account. (2) The Bank shall provide the necessary check stock for this account. Vendor checks shall be one part continuous forms on protective safety stock; all checks to be prenumbered. 5 (3) The Bank shall provide printed bank statements for the payroll zero balance account on a monthly basis within five business from the end of each month. The monthly statement will include return of all canceled checks, debit and credit memos, and deposit tickets. (4) The Bank shall return all paid checks to the City with their respective bank statements and these checks shall be fine sorted in ascending numerical order. (5) The Bank shall accept stop payment orders upon telephone communication from authorized city personnel. The City will provide written confirmation of the telephone transaction and the Bank shall provide confirmation of the stop payment. (d) Health Insurance Account (1) All employee health insurance claims, administrative fees, and stop loss insurance premium disbursements will be paid from this account. (2) Check stock for this account will be provided by the administrator of our self insurance program. (3) The Bank shall provide printed bank statements for the health insurance account on a monthly R basis within five business from the end of each month. The monthly statement will include return of all canceled checks, debit and credit memos, and deposit tickets. (4) The Bank shall return all paid checks to the City with their respective bank statements and these checks shall be fine sorted in ascending numerical order. (5) The Bank shall accept stop payment orders upon telephone communication from authorized City personnel. The City will provide written confirmation of the telephone transaction and the Bank shall provide confirmation of the stop payment. 5. The Bank shall provide the following investment services: (a) The Bank shall safekeep all securities purchased by the City (U.S. Treasury Bills and Notes). The Bank shall issue and deliver to the City a safekeeping receipt within two business days after receipt of the securities. (b) The City will be bidding its surplus funds for investments in various bank certificates of deposits and the Bank shall handle the third -party safekeeping of pledged collateral. The Bank shall safekeep all collateral pledged to the City by 6 local banks to cover the City's deposits in these banks via certificates of deposit. The Bank shall price this collateral to market on a quarterly basis and furnish the City a report within fourteen (14) business days following the end of each quarter showing the following information: (1) The bank pledging the collateral. (2) The security pledged (face amount, issuer, coupon, maturity date) (3) The market value of the pledged security. (c) The Bank shall credit the concentration account with earnings at the "Overnight Investment Rate" for all collected funds remaining in the concentration account at the end of each day. The Bank shall credit the health insurance account with earnings at the "Overnight Investment Rate" for all collected funds remaining in the health insurance account at the end of each day. Interest at the "Overnight Investment Rate" may be credited monthly. 6. The Bank shall perform all necessary procedures for the City's E -Bond Issuance Program. The City will furnish a list of employees and amount deducted along with a check and the Bank shall administer the program. 7. The Bank shall provide a monthly account analysis for each account to the City within fifteen (15) day of the end of the month. The account analysis must show at a minimum the following information: 0 (a) Account number. (b) Period covered. (c) Average ledger balance. (d) Average collection balance. (e) Service rendered (including type of service and quantity). (f) Per unit cost of each service. (g) Total cost per service. (h) Total cost of all services rendered. 8. The Bank shall debit the concentration account for services rendered for all accounts, except those services rendered for the health insurance account. The Bank shall debit the health insurance account for all services rendered for the health insurance account. The service cost to be deducted shall be taken directly from the required monthly analysis. 01 IN WITNESS WHEREOF, witness the signature of the President of Baytown State Bank as attested to by its Secretary, and the Mayor of the City of Baytown as attested to by its City Clerk, in duplicate, on this, the 12th day of September, 1991. ATTEST: Secretary ATTEST: EILEEN P. HALL, City Clerk 10 Baytown State Bank By President CITY OF BAYTOWN By EMMETT 0. HUTTO, Mayor EXHIBIT A CITY OF BAYTOWN, TEXAS BID FOR BANKING SERVICES BID FORM BAYTQ F N STATE BANK P. 0. GIOX 7351 BAY PEA STATION BAYTOWN, TEXAS 77520 ITEM (A) CONCENTRATION ACCOUNT 1. Deposits Credited 2. Items Deposited Unencoded 3. Returned Items 4. incoming Wires 5. Outgoing Wires 6. Night Depository Bags 7. Account Inquiry S. Account Maintenance 9. Cost of Deposit Slip Stock TOTAL FOR ITEM (A) ITEM - ( B).. VENDOR ZERO BALANCE ACCOUNT 1. Checks Paid 2. Cost of Check Stock 3. Check Sorting 4. Stop Payments 5. Account Maintenance 6. Zero Balance Transactions TOTAL FOR ITEM (B) 12 ESTIMATED ANNUAL PER UNIT ANNUAL COS COST 2,880 170,040 480 36 60 55 12 12 2,880 .20 576.00 .05 8,502.00 16i � �' 15.00 15.00 2.00 20.00 360.00 900.00 1 J f• l U 1.2,544.10 12,000 .15 1,800.00 12,000 108.00/M 1,296.00 12,000 .05 600.00 12 15.00 180.00 12 20.00 240.00 300 2.50 750.00 Initials 4,856.00 q9 ESTIMATED ANNUAL PER UNIT ANNUAL QUANTITY- -COST- ---COST- ITEM- f C )C ) PAYROLL ZERO BALANCE ACCOUNT 1. Checks Paid 15,600 .15 2,340.00 2. Cost of Check Stock 15,600 60.00 /M 936.00 3. Check Sorting 15,600 .05 780.00 4. Stop Payments 12 15.00 180.00 5. Account Maintenance 12 20.00 240.00 6. Zero Balance Transactions 300 2.50 750.00 7. TOTAL FOR ITEM (C) 10 2.00 5,226.00 ITEM (0) HEALTH INSURANCE ACCOUNT 1. Checks Paid 4,020 .15 603.00 2. Check Sorting 15,600 .05 780.00 3. Stop Payments 12 15.00 180.00 4. Account Maintenance 12 20.00 240.00 5. Deposits Credited 60 .20 12.00 6. Items Deposited Unencoded 1,240 .05 60.00 7. Returned Items 10 2.00 20.00 8. outgoing Wires 24 15.00 360.00 TOTAL FOR ITEM (D) 2,255.00 Initials 0 13 ESTIMATED ANNUAL PER UNIT ANNUAL QUANTITY- COST COST, ITEM, (E) INVES'T'MENT SERVICES i. Securities Safekeeping Approximately: T -Notes $10,000,000 T -Bills $45,000,000 a. Cost Per Receipt 130 25.00 3,250.00 b. Collection Charge for Interest Payments 32 2.50 80.00 C. Annual Maintenance Fees: 1. Per Receipt 20 42.00 840.00 2. Per $10,000 of Treasuries 12 -0- -0- d. Other Charges: Account Maintenance 12 20.00 240.00 2. Collateral Safekeeping: Approximately: $5,000,000 at market value of governments, agencies, municipals a. Cost per Receipt 10 25.00 250.00 b. Annual Maintenance Fee (Per $10,000) 5 42.00 210.00 c. Other Charges: Account Maintenance Fee 12 20.00 :40.00 3. Quarterly Collateral Pricing Report - per issue, per year. 14 10 AVG. 17.00 170.00 Initials ESTIMATED ANNUAL PER UNIT ANNUAL QUANTITY! COST COST 4. Charges for the Overnight Investment of Excess Funds a. Assumed Federal Funds Rate 5.75 b. Percentage of Federal Funds Rate Bid 65.78% c. overnight Investment Rate (a X b) 3.78% d. Per Unit Cost (a - c) 1.97% TOTAL ITEM (E) 5,280.00 OTHER SERVICES 1. Monthly E -Bond Issuance 36 2.50 90.00 2. Other Charges: 0.18975 /Month FDIC Assessment (Will always be Actual Per 1,000 Ledger/ FDIC Assessment Rate. 0.18975 is Current Rate) Est. 1,500,000Avge Bal 3,415.50 Baytown State Bank will offer any service, now in effect, or developed in the future, that is not listed above, to the City of Baytown, under terms which are mutually agreeable. TOTAL FOR ITEM (F) 3,505.50 TOTAL ANNUAL COST (SUM OF ITEMS (A) (B) (C) (D) (E) (F))33,676.60 Initials 15 FINANCIAL DATA In order to establish the financial strength of the depository institution, provide the following ratios. Please include a copy of the Bank's Consolidated Reports of Condition (Call Report). As of 6- 30 -91. LIQUIDITY: 1. Bank loans to deposits. 33.20% 2. Loans to assets minus plant and 3. Nonperforming loans to total loans. equipment. PROFITABILITY: 30.97% 3. Cash and equivalents to total assets. 23.90% 4. Percentage of assets maturing in one year. Capital to deposits. 58.06% 5. Cash and equivalents to deposits 26.12% ASSET QUALITY: 1. Current loan losses to total loans. 0.54% 2. Loan loss reserves to total loans. 1.03% 3. Nonperforming loans to total loans. 0.06% PROFITABILITY: 1. Return on earning assets. 1.16% 2. Return on equity. 12.72% STRENGTH: 1. Capital to deposits. 8.77% 2. Capital to loans. 26.41 3. Capital to assets. 8.02% i$ANAGEMENT : 1. Net charge -offs to loans. 0.43% 2. Income before security transactions to loans. 3.36, Initials `U 16 BID SUB BY • NAME (Printed) : E. Reginald Brewer TITLE: President and Chief Executive Officer ADDRESS: SIGNATURE PHONE: 713/427 -5841 PERSON DESIGNATED AS CITY LIAISON: NAME: Reagan Cartwright, Jr. TITLE: Vice President and Cashier NOTE: Attach a copy of availability schedule. 17 6TQQ ER's CER7lF1CA7TQN 7h 1985 Texas Legislature Gassea H B 620 reiating to bids by nonresicent Contractors. The pertinent portion of the Act has Caen extracted and is as Follows: (a.) (2) "Nonresident bidder" means a bidder whose principai place or business is not in this state, but excludes a contractor whose ultimate parent company or, majority owner has its principal place of business in this state. (3) "Texas resident bidder" means a Kidder whose principal place Of business is in this state, ana inCiudes a contraCtzr wnose ulti&mate parent company or majority owner has its principal place of business in this state. (b) The state or a governmental agency of the state may not award a contract For general construction, improvements, services, or public works projects or purchases of supplies, materials, or eouipment to a nonresident bidder unless the nonresident's bid is lower than the lowest bid submittec by a responsible Texas resicent bidder oy the same amount that a Texas resident bidder -.4ould be required to uncerbid a nonresident bitter to obtain a comcaraole contract in ne slate in wnicn t ~e nonresicent's principai place or" business is locatee. BAYTOWN STATE BANK I s a (COmcany N4 e) :�°c , aen Z _ i C =eT f: -exas cS der i net i rt H Cusi ess ;S 3iCnatur Fr i nt Name E. Reginald Brewer President and Chief Executive Officer i's a ( C;:M0anV 'Name) arc: cur , nc i pa i i ace (City and state) 5 l ona zur e -.,nt dame CITY OF BAYTOWN, TEXAS BID FOR BANKING SERVICES BID NUMBER 9108 -122 I. INTRODUCTION A. Background The City of Baytown, based on as examination of its cash management policies, practices and procedures, is evaluating its baking needs in terms of services and costs. In conjunction with this evaluation, the City is inviting bids from qualified banking institutions for providing complete banking services to the City of Baytown as described in Section III. This bid is for banking services only and does not include investment of City funds. The City will bid and invest part or all of its surplus or excess funds outside the depositary agreement which arises from this bid. The City of Baytown desires to acquire banking services which represent the best value to the City. The City considers value to be a function of price and quality. B. Submission Instructions 1. Sealed Bids: Responses to this bid marked "Banking Services" shall be sealed and mailed or delivered to: Eileen P. Hall, City Clerk Baytown City Hall P.O. Box 424 2401 Market Street Baytown, Texas 77522 To be eligible for consideration, all bids must be filed with the City before 2:00 P.M. September,.2;3 1991. Bids received after the deadline, regardless of the method of delivery, will not be opened or considered by the City. 2. Responses: Bids must be submitted on the standard forms provided herein, with supporting material attached to the required forms. The City's decision is selecting the bid that best meets the needs of the City will be based on the data contained in this bid and on the attached forms. 3. Questions and Clarifications: Any questions or requests for clarification should be directed to Mr. Ken Mitchell, Director of Finance (420 - 6531). Inquiries should not be made to other city officials or employees. 1 4. Variances: All variances from the City's specifications, terms and /or conditions, no matter how slight, must be indicated on the attached quotation forms. otherwise, it will be assumed that your bid fully complies with our terms, conditions, and specifications as defined. 5. Bid Signature: This document is part of the bid and must be signed in the appropriate spaces and initialed at the bottom of each page by an officer of the Bank who is authorized to bind the Bank. 6. This Bid does not commit the City of Baytown to enter into any formal or informal banking services arrangement or to incur any costs related to the preparation of a response. C. Selection Criteria The following criteria will be used by the City of Baytown to evaluate the bid and make a selection. 1. Compliance with minimum requirements as set out in Section II of the Bid. 2. Complete responses to all required items on the quotation forms. 3. Cost of services. 4. The "Overnight Investment Rate" used to calculate interest earnings from the investment of surplus funds. D. Terms and Conditions 1. Term: The intent of this Bid is for the City To arrange for banking services for a two year period. 2. Right to Reject: The City reserves the right to waive any irregularities in any bid, to request additional information and to accept or reject all bids. 3. Modification and Amendments: The City reserves the right to negotiate such additions, deletions or changes as it deems necessary during the term of the agreement. 4. Effective Date: The contract will run from October 1, 1991 to September 30, 1993. E II. MINIMUM QUALIFICATIONS FOR SUBMITTING A BID In response to this Bid, the bidder acknowledges and understands that the following conditions must be met at the time services are provided to the City: A. Federal or Texas Chartered Bank located in Baytown. B. Approved Collateral: A bank submitting a bid must have identifiable collateral which meets the requirements of Texas law for public depositories, and which is sufficient to cover the City's deposits at all times. C. Adequate Size to Provide Service: A bank submitting a bid must have adequate organization, facilities, equipment, and personnel to provide prompt and efficient service to the City. D. City Liaison: A bank submitting a bid must assign a senior level bank management person as liaison with the City's Finance Department. E. City Employee Check Cashing Privileges: A bank submitting a bid must agree to without charge to the City or its employees all of City of Baytown employee payroll checks drawn on its bank after proper identification is presented by the employee, regardless of whether or not the employee has an account with the Bank. III. STATEMENT OF REQUIRED SERVICES The City has determined that the following services are the minimum necessary in order to fulfill the foreseeable future banking service requirements of Baytown. The following is a schematic diagram of the management system: 3 and products current and the City of City's cash w cr a w u z a 0 U) z UI H d w U w cr } f- U J J d It z 0 U F U 3 Q O a+ W �+ U ro z in ao a z w0 O ui z •� z U f- Q w x m h z J C 0 3 U d U +� d a7 z as 0 o d It sa Z �w U U z m 0 U r z 0 0 U U d G 3 W O U +� z ?+ d f� d W 4- 00 A W s.a N U J J 0 } Q CL z O U U G d 3 o w +- U ]- Z rod [Q J Q Y-- m O O ?+ fZ W ,.. N U CC 0 0 Z w cU cli 1. All receipts except for those for the health insurance account are credited to a single concentration account. 2. All disbursements are drawn as needed from the separate disbursement accounts (Payroll and Vendor) which are maintained at a zero balance. 3. The Bank shall make daily transfers from the concentration account into each of the disbursement accounts to cover the checks presented that day for payment. 4. Receipts for the health insurance premiums are credited to the health insurance account. 5. Disbursements for insurance claims are drawn as need from the health insurance account. 6. The funds remaining in the concentration account after the transfers to the disbursement accounts and funds remaining in the health insurance account will earn interest at the "Overnight Investment Rate". "Overnight Investment Rate" means the Federal Funds offered rate as published in the Wall Street Journal for the previous business day multiplied by the percent quoted by the bidder in Item D of the attached quotation form. A. Concentration Account 1. Use of Account: The City of Baytown requires a cash concentration account into which all City receipts, except those for the health insurance account, will be deposited. The amount necessary to cover the checks presented in the zero balance accounts will be transferred for the concentration account on a daily basis. At the end of each day, the collected cash balance in the concentration account will be automatically invested overnight at the "Overnight Investment Rate ". 2. Deposits: The city will make deposits to the concentration account at various times during the business day and will require the Bank to give same day credit on collectible funds the Bank receives before 2:00 P.M. Deposits will not be encoded or sorted. The bank agrees to credit the concentration account for all checks in accordance with the bank's availability schedule. Banks are required to attach a copy of their availability schedule to the bid. 5 3. Monthly Statement: The City will require the Bank to Provide printed bank statements for the concentration account on a monthly basis within five business days from the end of each month. The monthly statement will include return of all canceled checks, debit and credit memos, and deposit tickets. 4. Returned Items: The City will require that returned items of seventy -five ($75.00) dollars or less be automatically redeposited the first time. 5. Wire Transfers Out: The City will require the Bank to periodically wire funds out of the concentration account to various vendors, paying agents, and brokers upon telephone instructions. Persons authorized by the City to make wire transfers will be assigned "personal identification number" (PIN) by the bank. Call back procedures will be used to independently verify the transfer. The City agrees to notify a designated person at the bank by 11:00 a.m. Wire transfers ordered by 11:00 a.m. and not received by the destination party by the close of business will be traced from origin to destination to ascertain the party responsible for delaying the transfer. If necessary, adjustments will be made for any lost interest or charges resulting from a "fail" to consummate a transfer. All transfers will be made using the Federal Reserve System unless otherwise instructed by the City. 6. Wire Transfers In: The City will require the Bank to accept incoming wire transfer of funds for the sale of securities, interest payments and receipts from various governmental agencies. The City intends to consider these incoming wire transfers as "available for investment" either by the City or by the bank through the overnight investment agreement. 7. Account Inquiry: The City will telephone the Bank as needed to inquire about the ledger and collected balance in the concentration account. 11 B. 8. Data Summary (Estimate of Activity): Account Maintenance Account Inquiry Deposits Credited Items Deposited Unencoded Returned Items Incoming Wires Outgoing Wires Monthly Yearly 1 12 1 12 240 2,880 14,170 170,040 40 480 3 36 5 60 Average Daily Collected Balance Vendor—Zero-.-Balance--Account 1. Use of Account: The City of Baytown requires a zero balance checking account from which all vendor disbursements will be paid. 2. Checks: The City requires the bank to provide the necessary check stock for this account. Vendor checks shall be two part (NCR Copy) continuous forms on protective safety stock; all checks to be prenumbered. See sample on Exhibit 1. 3. Monthly Statement: The City will require the bank to provide printed bank statements for the vendor zero balance account on a monthly basis within five business from the end of each month. The monthly statement will include return of all canceled checks, debit and credit memos, and deposit tickets. 4. Check Sorting: The City requires that all paid checks be returned to the City with their respective bank statements and that these checks be fine sorted in ascending numerical order. 5. Stop Payments: The City will require the Bank to issue stop payments upon telephone communication from authorized City personnel. The City will provide written confirmation of the telephone transaction and will require written confirmation of the stop payment from the Bank. 7 6. Data Summary (Estimate of Activity): Monthly Yearly Account Maintenance 1 12 Checks Paid 1,000 12,000 Check Sorting 1,000 12,000 Stop Payments 1 12 C. Payroll—Zero _Balance—Account 1. Use of Account: The City of Baytown requires a zero balance checking account from which all semi- monthly City payroll checks will be written. 2. Checks: The City requires the Bank to provide the necessary check stock for this account. Payroll checks shall be one part continuous forms on protective safety stock; all checks to be prenumbered. See sample on Exhibit 2. 3. Monthly Statement: The City will require the bank to provide printed bank statements for the vendor zero balance account on a monthly basis within five business from the end of each month. The monthly statement will include return of all canceled checks, debit and credit memos, and deposit tickets. 4. Check Sorting: The City requires that all paid checks be returned to the City with their respective bank statements and that these checks be fine sorted in ascending numerical order. 5. Stop Payments: The City will require the Bank to issue stop payments upon telephone communication from authorized City personnel. The City will provide written confirmation of the telephone transaction and will require written confirmation of the stop payment from the Bank. 6. Data Summary (Estimate of Activity): Account Maintenance Checks Paid Check Sorting Stop Payments 8 Monthly__ Yearly 1 12 1,300 15,600 1,300 15,600 1 12 FOP E. Health Insurance Account 1. Use of Account: The City of Baytown requires a health insurance checking account from which all employee health insurance claims, administrative fees, and stop loss insurance premium disbursements will be paid. 2. Checks: The City does not require the bank to provide the necessary check stock for this account. The administrator of our self insurance program will provide the check stock for this account. 3. Monthly Statement: The City will require the bank to provide printed bank statements on the health insurance account on a monthly basis within five business days from the end of each month. The monthly statement will include return of all canceled checks, debit and credit memos, and deposit tickets. 4. Check Sorting: The City requires that all paid checks be returned to the City with their respective bank statements and that these checks be fine sorted in ascending numerical order. 5. Stop Payments: The City will require the Bank to issue stop payments upon telephone communication from authorized City personnel. The City will provide written confirmation of the telephone transaction and will require written confirmation of the stop payment from the Bank. 6. Data Summary (Estimate of Activity): Monthly Yearly Account Maintenance 1 12 Checks Paid 335 4,020 Check Sorting 335 4,020 Stop Payments 1 12 Investment Services 1. Security Safekeeping: The Bank will be required to safekeep all securities purchased by the City (U.S. Treasury Bills and Notes). The City will require a safekeeping receipt be issued and delivered to the City within two business days after receipt of securities. 0 2. Collateral Safekeeping: The City will be bidding its surplus funds for investments in various bank certificates of deposits and the Bank will handle the third -party safekeeping of pledged collateral. The Bank will be required to safekeep all collateral pledged to the City by local banks to cover the City's deposits in these banks via certificates of deposit. The Bank will be required to price this collateral to market on a quarterly basis and furnish the City a report with in 14 business days following the end of each quarter showing the following information: a. The bank pledging the collateral. b. The security pledged (face amount, issuer, coupon, maturity date) C. The market value of the pledged security. 3. Overnight Investment of all Collected Funds: The City requires that all collected funds (excluding the self- insurance account) remaining in the concentration account at the end of each day earn a return such that the City will be credited with earnings at the "Overnight Investment Rate ". Interest at the "Overnight Investment Rate" may be credited monthly. F. Other Reguired,Services 1. Series E -Bond Issuance: The City will require the Bank to perform all the necessary procedures for the City's E -Bond Issuance Program. The City will furnish a list of employees and amount deducted along with a check and will expect the Bank to Administer the program. Currently 3 employees deduct $112.50 per month for E -Bond purchases. 10 2. Account Analysis: The City requires that a monthly account analysis for each account be presented to the City within 15 business days of the end of the month. The account analysis must show at a minimum the following information: a. b. C. d. e. f. 9- h. Account number. Period covered. Average ledger balance. Average collection balance. Services rendered (including and quantity) Per unit cost of each service. Total cost per service. type of service Total cost of all services rendered. IV. METHOD OF PAYMENT The City will pay for services rendered the health insurance account by debi account. The City will pay for services insurance account by debit to the health service cost to be reimbursed shall be required monthly account analysis. 11 for all accounts except t to the concentration rendered for the health insurance account. The taken directly from the O B' }q Q.. r{ : 4 AMENDMENT 01 CITY OF BAYTOWN 2401 h4ARKET P.O. ROX 424 BAYTOWN, TX 77522 -0424 f71 3) F22 -FllHl AUGUST 27, 1991 BANKING ;SERVICES BID NUMBER: 9108 -122 Refer to cover sheet of the bid and change that following: Change from: All sealed bids should bs sent in duplicate to the City Clerk or the City of Baytown by 2:06 p.m., Tuesday, September 2, 1991. Change to: All sealed bids should be sent in duplicate to the City Clerh of the City of Baytown by 2:00 p.m., Tuesday, September 3, 1941 . AMENDMENT P2 Refer to page 1. section 8. paragraph l and change the ro l l aN i nq : Change ?rom: To be eligible for consideration, gall bids must be filed with nhe Ci tv before 2:00 p.m. September 9, 1'791. Bids received after the deadlire, Tegardless of the m6thod of delivery, will not 5e rrpened or considered . by the City. Charge :o: o be eligible "or- consideration. all bids must be filed with. the Cit✓ jefcre 2:00 p.m., September 3, 1991,. Bids received after 1A dead l i He. , egar d :e•as Uf the method of delivery, will "ot je opened _}r consider ad by the City. 1 ilMENDMENT #3 Refer to page 10, section E, paragraph 3 and chance the following: Change from: 3. Overnight Investment of all Collected Funds: The City requires that all collected funds (excluding the self - insurance account) remaining in the concentration account at the end of each day earn a return such that the City will be credited with earnings at the "Overnight Investment Rate ". Interest at the "Overnight Investment Rate" may be credited monthly. Change to: 3. Overnight Inve-_tment of all Collected Funds: The City requires that ail collected funds remaining in the concentration account and the health insurance account at the end of each day earn a return such that the City will be credited with earnings at the "Overnight Inve- stment Rate ". Interest at the "Overnight Investment Rate" may he credited monthly. Bidder shall include and submit this amendment as part of his /her bid. 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