HomeMy WebLinkAbout2018-01-08 18-084 ORDERTitle, Order
CITY COUNCIL ACTION
Council Meeting Date: 01/08/2018
Item No: 18-084
Responsible Dept: Finance
Requested Action: Order
01/08/2018 18-084
Map/Lot: N/A
Authorizing the Award of Contract to Camden National Bank for Banking and Related Services
Summary
This order would authorize an award of contract to Camden National Bank for continued banking
services. In July, the City issued a Request for Proposals for Banking and Related Services and
received proposals from six banks. The Proposal requested information for a number of service
areas including; general banking, lockbox service, accounts payable solutions, merchant services,
investment safekeeping services and purchase cards. In addition to answering specific questions,
respondents were encouraged to provide any alternative banking solutions that would be beneficial
to the City, create efficiencies, improve process and/or take advantage of new technologies.
The City received responses from six qualified bidders including Bangor Savings Bank, Camden
National Bank, Machias Savings Bank, Peoples United, TD Bank and The First. Additionally, a panel
of city staff including the Finance Director, Treasurer, and Assistant City Manager interviewed
respondents. Once all of the data from the original submissions, interviews and additional
clarification was summarized, the three primary factors in developing a recommendation were cost,
earnings and enhancements.
Based on the above criteria, the unanimous staff recommendation is to award the contract to
Camden National Bank, our current provider, as their proposal represents the best financial proposal
for the City. This item will be reviewed in detail by the Finance Committee prior to this evening's
Council meeting.
Committee Action
Committee: Finance Meeting Date: 01/08/2018
Action: Recommend for passage For: Against:
Staff Comments & Approvals
This item will be reviewed in a Finance Committee meeting on January 8.
City Manager
Introduced for: New Business
City Solicitor
Finance Director
CITY OF BANGOR ORDER
Date: 01/08/2018
Item No: 18-084
Assigned to Councilor: Weston
01/08/2018 18-084
Authorizing the Award of Contract to Camden National Bank for Banking and Related Services
Be it Ordered by the City Council of the City of Bangor that, the Finance Director is hereby authorized to
execute any required agreements with Camden National Bank for Banking and Related Services.
IN CITY COUNCIL
JANURARY 8, 2018
CO 18=084
COUNCILOR SPRAGUE INDICATED THAT HE HAD A CONFLICT OF INTEREST AS
HIS EMPLOYER WAS ONE OF THE BIDDERS
COUNCILOR SPRAGUE LEFT THE ROOM
COUNCILOR NICHOLS CHAIRED THE MEETING
MOTION MADE AND SECONDED FOR PASSAGE
PASSAGE
COUNCILOR SPRAGUE RETURNED TO THE MEETING AND RESUMED HIS
POSITION OF CHAIRMAN
CITY CLERK