Title
A Resolution authorizing and directing the Mayor, on behalf of the Urban County Government, to execute a Multi-Year Agreement (awarded pursuant to RFP No. 24-2019) and any other necessary related documents with Fifth Third Bank, Inc. to provide lockbox banking services for tax filing and LEXserv deposits, for the Div. of Revenue, at a cost not to exceed $75,857.74 in FY 2020. [Div. of Revenue, Cook]
Summary
Authorization to execute an Agreement with Fifth Third Bank to provide lockbox banking services for tax filing and LEXserv deposits. Fiscal year impact is $75,857.74. Funds are Budgeted. (L1007-19) (Cook/O’Mara)
Budgetary Implications: Yes
Advance Document Review:
Law: Yes Completed by Evan Thompson
Risk Management: N/A
Fully Budgeted: Yes
Account Number: 1101-202101-2011-78701 $20,090.35
4002-202101-2011-78701 $29,556.72
4121-202101-2011-78701 $11,153.47
4051-202101-2011-78701 $15,057.20
This Fiscal Year Impact: Estimated $75,857.74
Annual Impact:
Project:
Activity:
Budget Reference:
Current Balance: 1101-202101-2011-78701 - $47,880.38
4002-202101-2011-78701 - $70,405.45
4121-202101-2011-78701 - $39,547.43
4051-202101-2011-78701 - $35,480.71
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 a multi-year Agreement, which is awarded pursuant to RFP No. 24-2019 and attached hereto and incorporated herein by reference, and any other necessary related documents, with Fifth Third Bank, Inc., to provide lockbox banking services for tax filing and LEXserv deposits, for the Division of Revenue.
Section 2 - That an amount, not to exceed the sum of $75,857.74, be and hereby is approved for payment to Fifth Third Bank, Inc., in FY2020, from accounts # 1101-202101-2011-78701 ($20,090.35); 4002-202101-2011-78701 (29,556.72); 4121-202101-2011-78701(11,153.47); 4051-202101-2011-78701($15,057.20), pursuant to the terms of the Agreement.
Section 3 - That this Resolution shall become effective on the date of its passage.
PASSED URBAN COUNTY COUNCIL:
________________________________
Mayor
ATTEST:
________________________________
Clerk of the Urban County Council
1007-19:EPT_X:\CASES\REVENUE\19-CC0475\LEG\00667765.DOCX