HomeMy WebLinkAboutC.054.93009_0054 (2)Lock box per item $ .16, annual cost
on estimated 86,000 bills 13,760
TOTAL 25,580
First Citizens Bank
Proposes an insured money market account.
Average interest paid for the last three
months 2.57$
Compensating Balance $410,000
Annual loss of interest @3$ 12,300
Lock Box per item $ .15, annual cost
on estimated 86,00 bills 25,200
TOTAL 25,200
Union Natio
Proposes an insured money market account.
Average interest paid for the last three
months 2.24%.
Compensating Balance $2,932,000
Annual loss of interest @3$ 87,960
Lock Box per item $ .55
Annual cost of estimated 86,000 bills 47,300
Other banks received requests for proposals but did not
respond. Mrs. Blumenstein recommended the bid of First Citizens
Bank, who has had the service for the last three years and has been
very satisfactory, she said. The compensating balance is $410,000
compared to Branch Bank & Trust at $394,000; however, the lock box
costs makes the First Citizens Bank lower overall.
MOTION from Commissioner Stewart to award the contract for
banking services to First Citizens Bank at $25,200 annual cost for
three years, beginning July 1, 1993 and concluding June 30, 1996.
VOTING: Ayes - 5; Nays - 0.
SOLICITATION IN COUNTY BUILDINGS POLICYt MOTION Commissioner
Madison to approve this policy as presented, effective immediately.
The policy is as follows:
IRBDSLL COUNTY SOLICITATION POLICY
On April 6, 1993, the Iredell County Board of Commissioners
adopted the following policy resolution, effective immediately:
It is the policy of Iredell County Board of Commissioners that
no solicitation from any County employee by anyone representing any
firm or cause will be permitted on County property without prior
approval of the Board of County Commissioners. This does not
include persons representing firms contacting an employee which is
representing the County in an official capacity and on official
business.
It will be the responsibility of each supervisor to enforce
this policy within their jurisdiction.
In order to be granted for approval by the Board, the
APR r j 039