Title
A Resolution authorizing the Mayor, on behalf of the Urban County Government, to execute a Lockbox Processing Agreement with Republic Bank & Trust Co. for services related to the implementation of LEXserv In-House Billing, at a cost not to exceed $18,000 in FY2017. [Div. of Revenue, Cook]
Summary
Authorization to execute an Agreement with Republic Bank & Trust Company for an additional Lockbox Account related to the implementation of LEXserv In-House Billing at a FY17 estimated cost of $18,000 (1.5 months) and a FY18 estimated cost of $144,000. Funds are Budgeted. (L0539-17) (Cook/O’Mara)
Budgetary Implications [select]: Yes
Advance Document Review:
Law: Yes, Completed by [David Barberie, May 4, 2017
Risk Management: N/A
Fully Budgeted: BAs In process
Account Number: 4002-202101-2011-78701 $9,540 $76,320 FY18
4051-202101-2011-78701 $4,860 $38,880 FY18
4121-202101-2011-78701 $3,600 $28,880 FY18
This Fiscal Year Impact: Estimated $18,000
Annual Impact: Estimated $144,000
Project:
Activity:
Budget Reference:
Current Balance: BAs In process
Body
BE IT RESOLVED BY THE COUNCIL OF THE LEXINGTON-FAYETTE URBAN COUNTY GOVERNMENT:
Section 1 - That the Mayor, on behalf of the Lexington-Fayette Urban County Government, be and hereby is authorized to execute the Lockbox Processing Agreement, which is attached hereto and incorporated by reference, with Republic Bank & Trust Company for services related to the implementation of LEXserv In-House Billing, at a cost not to exceed $18,000.00 in FY2017.
Section 2 - That an amount not to exceed the sum of $18,000.00 in FY 2017, be and hereby is approved for payment to Republic Bank & Trust Company, from account #4002-202101-78701 ($9,540.00), account #4051-202101-78701 ($4,860.00), and account #4121-202101-78701 ($3,600.00), pursuant to the terms of the Agreement, with the current fiscal year subject to the approval of a pending Budget amendment and future fiscal years subject to the appropriation of sufficient funds.
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