2001-109 Council Resolution - Laserfiche WebLink

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10. The financial institution shall provide 24 hour electronic funds transfer by ACH debit option and payroll direct deposit. 11. The financial institution shall have the ability and availability to use sweep accounts and/or repurchase agreements for over -night investment of funds. 12. The financial institution shall provide a major corporate credit card with a credit limit of at least $10,000 with no annual fee. 13. The financial institution shall provide free on-line access to the City's account and free on-line banking services. 14. The preceding terms shall be agreed to in writing and commence when a new supply of printed checks becomes available in September, 2001. 15. Failure of the financial institution to follow the terms of this agreement shall constitute grounds for the City to unilaterally cancel the agreement immediately. 16. Uncollected or insufficient checks will be presented twice before being charged against the City's account. 17. The financial institution will make available copies of debit and credit entries to the City on a daily basis. 18. Verbal stop payment orders will be accepted from designated City personnel. The City will forward a written or fax confirmation of the order within three working days. IV. INSTRUCTIONS ON SUBMITTING PROPOSALS 1. Proposals must be submitted by 4:30 p.m. , Friday, June 22, 2001 to: Alan J. Rolek, Finance Director City of Lino Lakes 600 Town Center Parkway Lino Lakes, MN 55014 2. The proposal should include the following: a) Completed pages of Section V (A & B) — Proposal for Financial Services and Section VI — Questionnaire from this RFP; b) A sample of a monthly account analysis report; and c) A copy of your financial institution's most recent annual audited financial statements.