Finance Committee Agenda and Packet 2009 10 19

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City of Louisville Request for Proposals Banking Services Contract Term The banking services detailed in this RFP are to be performed for the City on a contractual basis for five (5) years, subject to annual appropriation; with up to two (2) one-year extensions possible. It is anticipated that these services will be re-bid at the end of the term of this contract. This agreement may be terminated by either party by giving at least ninety (90) days written notice. Execution of Agreement The contract awarded to the successful proposing bank will be established by written agreement with the City. The City reserves the right to enter into a contract with any bank based upon the initial proposal or on the basis of a best and final offer without conducting discussions with any other bank. All banks are hereby notified that the execution of an agreement pursuant to this RFP is dependent upon appropriation by the City of the necessary funds and upon the negotiation of a mutually acceptable contract with the successful bank. In the event that the proposing bank to whom the services are awarded does not execute a contract within thirty (30) calendar days after the award of bid, the City may give notice to such proposing bank of the intent to award the contract to the next most qualified proposing bank or to call for new proposals and may proceed to act accordingly. The City assumes no cost by the proposing banks in preparation of this proposal. Schedule of Events Every attempt will be made to adhere to the following schedule. However, the City reserves the right to modify this schedule at its sole discretion if it deems necessary. EventDate(s) Release of Request for Proposals (RFP) Document ................................................................ November 2, 2009 Deadline for Requesting RFP Clarification ............................................................................. November 23, 2009 Pre-Bid Meeting ...................................................................................................................... November 23, 2009 Responses to Requests for RFP Clarification ........................................................................ November 30, 2009 Letter of Intent due at City ........................................................................................................ December 7, 2009 Responses to RFP due by 4:00 p.m. MST ................................................................................... January 4, 2010 Interviews, Presentations, and/or Facility Tours (if necessary) ............................ January 18 – January 29, 2010 Recommendation to City Manager and Finance Committee ................................................... February 16, 2010 Formal Award of Bid and Proposed Contract Submitted to City Council ......................................... March 2, 2010 Implementation and Conversion ...................................................................................... March 15 – April 2, 2010 Completion of Implementation and Beginning Contract Date ............................................................. April 5, 2010 GENERAL TERMS & CONDITIONS Receipt of Proposals and Public Inspection Upon receipt of proposals, all marked trade secrets and company financial information will be removed from the responses and provided only to the Evaluation Committee members or persons participating in the contracting process. All remaining qualification materials will be available for public inspection after the final award process. Claims to Keep Information Confidential Proposals may be considered public record after opening pursuant to City ordinance and the Colorado Open Records Act. The City will notify the proposing bank of any request for disclosure and it will be the 6 of 24