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<br />City of Louisville <br />Request for Proposals <br />Banking Services <br /> <br />. The aggregate banking service costs and the corresponding compensating balance; <br />. The earnings credit rate on compensating balances; <br />. The arrangement and rate for investments; <br />. The availability schedule for deposits; <br />. The capability to handle daylight overdrafts; <br />. The financial strength and stability of the financial institution; <br />. The clarity, completeness, and timeliness of reports and statements; <br />. The responses received from references; <br />. The overall completeness and responsiveness to the RFP; and <br />. The availability of other value-added banking services that will enhance efficiency and/or save money <br />for the City. <br /> <br />After the initial review, the Evaluation Committee may request an interview with a proposing bank. The <br />Evaluation Committee will also contact bank-provided references and may contact references obtained from <br />other sources. The Evaluation Committee may also conduct site visits to the proposing banks. <br /> <br />Recommendations of the Evaluation Committee will be forwarded to the City Manager and the Finance <br />Committee. After the City Manager and Finance Committee have reviewed the recommendations of the <br />Evaluation Committee, a conference may be requested to formulate plans in greater detail, to clarify any <br />unclear items, and to otherwise complete negotiations prior to the formal award. The City Manager and <br />Finance Committee will provide direction to staff whether to proceed with contract negotiations. The proposed <br />contract will be presented to City Council for authorization to execute. <br /> <br />Contract Term <br />The banking services detailed in this RFP are to be performed for the City on a contractual basis for five (5) <br />years, subject to annual appropriation; with up to two (2) one-year extensions possible. It is anticipated that <br />these services will be re-bid at the end of the term of this contract. This agreement may be terminated by <br />either party by giving at least ninety (90) days written notice. <br /> <br />Execution of Agreement <br />The contract awarded to the successful proposing bank will be established by written agreement with the City. <br />The City reserves the right to enter into a contract with any bank based upon the initial proposal or on the basis <br />of a best and final offer without conducting discussions with any other bank. All banks are hereby notified that <br />the execution of an agreement pursuant to this RFP is dependent upon appropriation by the City of the <br />necessary funds and upon the negotiation of a mutually acceptable contract with the successful bank. <br /> <br />In the event that the proposing bank to whom the services are awarded does not execute a contract within <br />thirty (30) calendar days after the award of bid, the City may give notice to such proposing bank of the intent to <br />award the contract to the next most qualified proposing bank or to call for new proposals and may proceed to <br />act accordingly. The City assumes no cost by the proposing banks in preparation of this proposal. <br /> <br />Schedule of Events <br />Every attempt will be made to adhere to the following schedule. However, the City reserves the right to modify <br />this schedule at its sole discretion if it deems necessary. <br /> <br />5 ~P24 <br />