Title
A Resolution authorizing the Mayor or his designee, on behalf of the Urban County Government, to execute an Amendment to the Lockbox Processing Services Agreement with Central Bank and Trust Co., to provide for services up to an additional year at a cost not to exceed an estimated monthly amount of $1,793.66. [Dept. of Finance, O'Mara]
Summary
Authorization to execute a one year extension agreement with Central Bank & Trust Co. to provide on-going lockbox processing services to the Lexington-Fayette Urban County Government. The request retains Central Bank and Trust Co. as the agent to receive the Government's incoming Occupational License Returns, process remittances and deposit them into the designated Government accounts maintained by the bank.
Budgetary Implications: Yes
Advance Document Review: Law
Fully Budgeted: Yes
Account Number: 1101-202601-0001-71202
This Fiscal Year Impact: $ 25,000.00
Annual Impact: $ 30,000.00
Project:
Activity:
Budget Reference:
Current Balance: $28,465.14
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor or his designee, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized to execute the Amendment to the Lockbox Processing Services Agreement, which is attached hereto and incorporated herein by reference, with Central Bank and Trust Co., to provide services for up to an additional year at a cost not to exceed an estimated monthly amount of $1,793.66.
Section 2 - That an amount, not to exceed the estimated monthly sum of $1,793.66, be and hereby is approved for payment to Central Bank and Trust Co., from account #1101-202601-71202, pursuant to the terms of the Amendment to Agreement.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
___________________________________
MAYOR
ATTEST:
_________________________________
CLERK OF URBAN COUNTY COUNCIL