Resolution No. 2018-75 Ranking of Banks to Provide Banking Services - September 4, 2018 RESOLUTION NO. 2018-75
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
OR HER DESIGNEE(S) 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 Commissioner Robert Shelley, Eric M. Soroka of CMCS Consulting
Services LLC and the City's 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). TD
Bank, N.A. 2). Florida Community Bank, and 3). BankUnited; and
WHEREAS, the City Commission desires to authorize the City Manager or her
designee(s) 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) TD Bank, N.A.
2) Florida Community Bank
3) BankUnited
City of Aventura Resolution No. 2018-75
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 her designee(s)
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 her designee(s) is/are 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 Shelley, who moved its
adoption. The motion was seconded by Vice Mayor Mezrahi, and upon being put to a
vote, the vote was as follows:
Commissioner Denise Landman Yes
Commissioner Dr. Linda Marks Yes
Commissioner Marc Narotsky Yes
Commissioner Robert Shelley Yes
Commissioner Howard Weinberg Yes
Vice Mayor Gladys Mezrahi Yes
Mayor Enid Weisman Yes
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City of Aventura Resolution No. 2018-75
PASSED AND ADOPTED this 4th day of September, 2018.
i Yr j--- - _________
_- ENID WEISMAN, MAYOR
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ATTEST:
ELLISA L. HORVATH, M
CITY CLERK
APPROVED AS TO LEGAL SUFFICIENCY:
0 n.
CITY TTORNEY
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