AGENDA CAPTION:
Title
Consider approval of Resolution 2021-52R, awarding a contract to Wells Fargo, N.A., for Depository Services in the estimated annual amount of $60,000 for a three year term and authorizing one additional extension of up to two years; authorizing the City Manager or his designee to execute the contract on behalf of the City; and declaring an effective date.
Body
Meeting date: March 16, 2021
Department: Finance Department - Marie Kalka, Director (by Lynda Williams, Purchasing Manager)
Amount & Source of Funding
Funds Required: $60,000 estimate / year
Account Number: 10001280-54010; 21006322-54010; 22006335-54010
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Fiscal Note:
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Background Information:
On December 17, 2020, the City received two (2) proposals in response to RFP 220-226 for Depository Services. A City-staffed evaluation team thoroughly reviewed and evaluated both submissions with the assistance of a technical consultant to the City. The evaluation team has determined Wells Fargo Bank, National Association, to be the most qualified and best value to serve the City's banking needs. The City intends to award a contract to Wells Fargo Bank, N.A., located in Sioux Falls, South Dakota, ...
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