File #: 2008-0444    Version: 1
Type: Purchase Status: Passed
File created: 8/22/2008 In control: City Council Regular Meeting
On agenda: Final action: 9/8/2008
Title: Request for Purchase Authorization - TREASURY: Contract for banking services in the amount not-to-exceed $486,000.00; Bank of America, Troy, MI
Indexes: Professional Services, Purchase Authorization
Attachments: 1. Agenda Summary.pdf, 2. Bank Ratings.pdf, 3. Interest Earnings Comparisons.pdf, 4. Cost Proposal Tabulation.pdf, 5. Resolution.pdf
Title
Request for Purchase Authorization - TREASURY:  Contract for banking services in the amount not-to-exceed $486,000.00;  Bank of America, Troy, MI
 
Body
Resolved, that the Rochester Hills City Council approve a 9-year contract with Bank of America, Troy, Michigan, and authorize the Mayor to execute the contract on behalf of the City.
 
Resolved, that the Rochester Hills City Council waive Section 2-273(b), the 3-year requirement for long term contracts, under Section 2-282, which allows City Council the authority to waive any regulation or procedure pertaining to purchasing, deeming it in the best interest of the City.
 
Resolved, that the Rochester Hills City Council authorize the award of the contract for banking services to Bank of America, Troy, Michigan, in the amount not-to-exceed $486,000.00 through September, 2017.