2012-17RESOLUTION NO. 2012 -17
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF AVENTURA, FLORIDA ESTABLISHING A
RANKING OF BANKS TO PROVIDE BANKING
SERVICES; AUTHORIZING THE CITY MANAGER TO
NEGOTIATE FOR SAID SERVICES; AUTHORIZING THE
CITY MANAGER TO DO ALL THINGS NECESSARY TO
CARRY OUT THE AIMS OF THIS RESOLUTION; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City of Aventura, in accordance with applicable State law, has
requested proposals from banks to provide banking services to the City; and
WHEREAS, said proposals were evaluated by an Evaluation Committee
consisting of the City Manager, Finance Director and Controller; and
WHEREAS, said Evaluation Committee recommends that the top three ranked
banks, based on the banks' cost of services, transaction time, investment earnings rate and
compensating balance requirements; ability to provide the type and quality of services
requested; prior experience in providing banking services to governments, including
organizational structure available to service the City; and other financial services available from
the bank above and beyond those enumerated, be: 1). Bank of America, N.A. 2). TD Bank
and 3). BB &T; and
WHEREAS, the City Commission desires to authorize the City Manager or his
designee to negotiate fees with the top ranked bank and with the alternate bank(s),
should negotiations with the top ranked bank be unsuccessful.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF AVENTURA, FLORIDA, THAT:
Section 1. The ranking of banks to provide banking services for the City are:
1) Bank of America, N.A.
Resolution No. 2012 -17
Page 2
2) TD Bank
3) BB &T
Section 2. The banks have been rated on their cost of services, transaction time,
investment earnings rate and compensating balance requirements; ability to provide the type
and quality of services requested; prior experience in providing banking services to
governments, including organizational structure available to service the City; and other financial
services available from the bank above and beyond those enumerated. The final cost shall
be negotiated by the City Manager or his designee and approved by the City
Commission prior to said bank beginning any work for which the City may later be
billed.
Section 3. In the event the City is unable to come to favorable terms and fees
with the top ranked bank, the City Manager or his designee is hereby authorized to
negotiate fees with the alternate banks.
Section 4. The City Manager is hereby authorized and requested to take all
necessary and expedient action to carry out the aims of this resolution.
Section 5. This Resolution shall become effective immediately upon its
adoption.
The foregoing Resolution was offered by Commissioner Diamond, who moved its
adoption. The motion was seconded by Commissioner Holzberg, and upon being put
to a vote, the vote was as follows:
Commissioner Zev Auerbach
yes
Commissioner Bob Diamond
yes
Commissioner Teri Holzberg
yes
Commissioner Michael Stern
yes
Commissioner Luz Urbaez Weinberg
yes
Vice Mayor Billy Joel
yes
Mayor Susan Gottlieb
yes
Resolution No. 2012 -17
Page 3
PASSED AND ADOPTED this 3d day
7VED AS TO LEGAL SUFFICIENCY:
CITY ATTORNEY
of Apr*, 2012.
1
USAN GO TLIEB, MAYOR