HomeMy WebLinkAbout~Master - Award Bank Depository Services to First National Bank for three fiscal years RESOLUTION NO. 00-414
RESOLUTION APPROVING AWARD FOR BANK DEPOSITORY
SERVICES TO FIRST NATIONAL BANK FOR FISCAL YEARS
2000/01, 20001/02,AND 2002/03 WITH A THREE-YEAR RENEWAL OPTION
FOR THE CITY OF AMES,IOWA
WHEREAS,it is the City's policy to request bids for depository services from local financial
institutions; and,
WHEREAS,fees quoted by the financial institutions are based on a per-item cost of historical
or anticipated City volume, and these costs could vary if volume increased significantly; and,
WHEREAS, five financial institutions responded to the Request for Proposal, and a
committee reviewed the proposals based on certain rating criteria and made on-site visits; and,
WHEREAS, the proposals were ranked and First National Bank was selected.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ames, Iowa,
that the designation of First National Bank of Ames, Iowa, as the depository bank for the City of
Ames through September 30,2003,with a three-year renewal option,at an approximate annual cost
of$3,000 for services requested is hereby approved.
ADOPTED THIS 22nd day of August, 2000.
Diane R. Voss, City Clerk Ted Tedesco, Mayor
Introduced by: Cross
Seconded by: Hoffman
Voting aye: Campbell, Cross, Hoffman, Quirmbach, Wirth
Voting nay: None Abstaining: Goodhue Absent: None
Resolution declared adopted and signed by the Mayor this 22nd day of August, 2000.