Finance Committee Agenda and Packet 2009 10 19

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City of Louisville Request for Proposals Banking Services Letter of Intent In order to submit a proposal, proposing banks must issue a Letter of Intent to the City Finance Director by December 7, 2009. The letter may be mailed or e-mailed to: City of Louisville Kevin Watson Finance Director 749 Main Street Louisville, CO 80027 kevinw@louisvilleco.gov The Letter of Intent should be on the proposing bank’s letterhead and state that the bank intends to respond to the City of Louisville’s Banking Services RFP. The letter should designate a primary contact person and give contact information. Evaluation Criteria and Selection Process An Evaluation Committee will be formed to assist in reviewing the proposals. No proposal will be considered unless it is complete. Proposals will be ranked on the ability of the proposing banks to provide the required services effectively and on total cost. After the proposals are deemed complete, they will be evaluated according to the following items: The ability to meet current and projected service requirements over the term of the banking agreement; The quality level of services to be performed and the proposed approach to cost control, service monitoring, and administration; The aggregate banking service costs and the corresponding compensating balance; The earnings credit rate on compensating balances; The arrangement and rate for investments; The availability schedule for deposits; The capability to handle daylight overdrafts; The financial strength and stability of the financial institution; The clarity, completeness, and timeliness of reports and statements; The responses received from references; The overall completeness and responsiveness to the RFP; and The availability of other value-added banking services that will enhance efficiency and/or save money for the City. After the initial review, the Evaluation Committee may request an interview with a proposing bank. The Evaluation Committee will also contact bank-provided references and may contact references obtained from other sources. The Evaluation Committee may also conduct site visits to the proposing banks. Recommendations of the Evaluation Committee will be forwarded to the City Manager and the Finance Committee. After the City Manager and Finance Committee have reviewed the recommendations of the Evaluation Committee, a conference may be requested to formulate plans in greater detail, to clarify any unclear items, and/or to otherwise complete negotiations prior to the formal award. The City Manager and Finance Committee will provide direction to staff whether to proceed with contract negotiations. The proposed contract will be presented to City Council for authorization to execute. 5 of 24