HomeMy Public PortalAbout11-8276 Accept the Proposal from Wells Fargo to Provide Professional Banking Services Sponsored by: City Manager
Resolution No. 11-8276
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF OPA-LOCKA, FLORIDA, TO AUTHORIZE THE
CITY MANAGER TO ACCEPT THE PROPOSAL FROM
WELLS FARGO TO PROVIDE PROFESSIONAL BANKING
SERVICES TO THE CITY OF OPA-LOCKA; PROVIDING
FOR INCORPORATION OF RECITALS; PROVIDING FOR
AN EFFECTIVE DATE
WHEREAS,pursuant to Resolution 11-8260,the City of Opa-locka issued an RFP to solicit
proposals for banking services from qualified banking institutions; and
WHEREAS, a mandatory pre-proposal conference was held on July 20,2011,attended by
representatives from TD Bank, BB&T, and Wells Fargo; and
WHEREAS,a banking service committee was formed to evaluate the proposals,as a result
of which, Wells Fargo was selected to be the most responsive bidder; and
WHEREAS, the City Commission of the City of Opa-locka desires the City Manager to
accept the proposal of Wells Fargo to provide professional banking services to the City of Opa-locka.
NOW,THEREFORE,BE IT DULY RESOLVED BY THE CITY COMMISSION OF
THE CITY OF OPA-LOCKA,FLORIDA:
Section 1. The recitals to the preamble herein are incorporated by reference.
Section 2. The City Commission of the City of Opa-locka hereby authorizes and directs
the City Manager to accept the proposal of Wells Fargo to provide professional banking services to
the City of Opa-locka.
Section 3. This resolution shall take effect immediately upon adoption.
Resolution No. 11-8276
PASSED AND ADOPTED this 14`h day of September, 2011.
i '
MYR• %AYLOR
MAYOR
Atte• ..
Deborah S. Ir
City Clerk
Approved as to form and legal sufficiency:
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Jo d. 'S Geller
C. Att. ey
Moved by: JOHNSON
Seconded by: HOLMES J
Commission Vote: 4-0
Commissioner Holmes: YES
Commissioner Miller: YES
Commissioner Tydus: NOT PRESENT
Vice-Mayor Johnson: YES
Mayor Taylor: YES
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Memorandum
TO: Mayor Myra L. Taylor
Vice-Mayor Dorothy Johnson
Commissioner Tim y Holmes
Commissioner se Tydus
Commissioner ail Miller
FROM: Bryan K. Finnie,In • m City Manager
DATE: August 4,201
RE: Bankin :e
Request: ST:. F IS REQUESTING APPROVAL FROM THE CITY COMMISSION
TO ACCEPT THE PROPOSAL OF WELLS FARGO TO PROVIDE
PROFESSIONAL BANKING SERVICES TO THE CITY OF OPA-LOCKA.
Background Information: The City Commission passed legislation authorizing the City Manager
to issue a Request for Proposal for banking services.
The RFP was advertised and posted to the City's website on July 14, 2011. The RFP was also sent
directly to two banks.
A mandatory pre-proposal conference was held on July 20, 2011 which was attended by
representatives from TD Bank, BB&T and Wells Fargo.
The RFP closed on July 27, 2011 with proposal received from TD Bank, BB&T and Wells Fargo.
A Banking Services RFP Committee was formed to evaluate the proposals received. The committee
met on August 3, 2011. As a result of the committee's evaluation, Wells Fargo was selected to be
the most responsive bidder.
Financial Impact: None. Banking services fees are covered by the City's credits from current deposit level.
Implementation Timeline: Immediately
Legislative History: Resolution No. 11-8260
Recommendation(s): Staff recommends approval.
Attachments: Resolution No. 11-8260
PREPARED BY: Finance Department