09-16-1998 (City Council) Agenda Packet WYLIE CITY COUNCIL
r/VISI
Special Called Meeting
Wednesday, September 16, 1998
7:00 p.m.
Wylie Municipal Complex-Council Chambers
2000 State Highway 78 North
Wylie,Texas 75098
Item No. Agenda Item Action Taken
Call to Order
Invocation
Pledge of Allegiance
Proclamation
Declaring the Week of September 17-23 as Constitution Week in Wylie,Texas.
Consent Agenda
All matters listed under the Consent Agenda are considered to be routine by the City Council and
will be enacted by one motion. There will not be separate discussion of these items. If discussion
is desired,that item will be removed form the consent agenda and will be considered separately.
A. Approval of the Minutes from the Special Called Meetings of August 4 and August 27 and
the Regular Meetings of August 11 and August 25, 1998.
B. Consider and Act Upon a Final Plat for the Heatherwood Estates Addition,Proposed by
Charles and Tracy Lester, Generally Located at the Northwest Corner of Heatherwood
Drive and Lanwood Drive,and Being All a Certain 7.345 Acre Tract Out of the Francisco
De La Pina Survey,Abstract No. 688, City of Wylie, Collin County, Texas.
C. Consider and Act Upon a Final Plat for the Park Road Elementary School Addition,
Proposed by Glenn Engineering Corporation for the Wylie Independent School District,
Generally Located at the Northeast Corner of FM 1378 and McMillen Road and Being All
of a Certain 10.799 Acre Tract and All of a Certain .574 Acre Tract Out of the Charles
Atterbury Survey,Abstract No. 22,City of Wylie,Collin County,Texas.
Items for Individual Consideration
1. Consider and Act Upon the Award of Contract for the City of Wylie Bank
Depository.
Executive Summary
City staff issued a Request For Proposal(RFP)for a Bank Depository Contract and hand delivered
the RFP to Provident and American National Banks on July 17, 1998. The bids for depository
services were due on August 12, 1998 at 2 P.M. and the City received proposals from American
and Provident banks.
Item No. Agenda Item Action Taken
Executive Summary-continued
American National Bank's bid clearly met the major requirements of Section IV ACCOUNT
ACTIVITIES AND BANK CHARGES of the RFP. Provident National Bank(PNB)in Section
IV ACCOUNT ACTIVITIES AND BANK CHARGES,A.of the bid submitted did not specify
that the City's main checking accounts, Operating and Payroll would be interest bearing and
with unlimited transitions. PNB did not respond to Section IV D. Payment for Services and
Section IV G.Interest on Money Market Checking Accounts. Both of the banks did meet the
qualifications in Section IX OTHER STIPULATIONS,F.
Both of the banks exceeded the minimum requirement as specified in the RFP from each of the
two rating services with American National Bank receiving a higher rating by both rating
services.
Board/Commission/Staff Recommendation
The staff recommends that the City Council accept the bid by American National Bank and pass
a Resolution designating the American National Bank as a corporate depository for the City of
Wylie.
2. Consider and Act Upon Approval of a Final Plat for Phase V of the Newport
Harbor Addition, Proposed by Carter & Burgess, Inc. for Centex Homes,
Generally Located Along the East Side of FM 1378 Just South of Anchor Drive
and Being All of a Certain 26.753 Acre Tract Out of the James McUlmurry
Survey,Abstract No.629,City of Wylie,Collin County,Texas.
Executive Summary
The final plat under consideration is for Phase V of the Newport Harbor Addition. The
applicant is platting 26.753 acres in order to develop the property with 110 single family
residential lots. The property is currently vacant,unplatted,and zoned for SF-3 (Single Family
Residential)uses.
Staff has reviewed the proposed plat for Phase IV of the New port Harbor Addition and found
it to be in compliance with the Subdivision Regulations and other pertinent ordinances of the
City of Wylie except for notarized block length. Specifically, Section 5.02 D (2) of the
Subdivision Regulations states that the block length in residential areas shall not exceed 1,200
feet. The applicant is requesting a variance to this requirement as the length being proposed for
Block 3 is 1,500 feet. The variance being proposed is consistent with the preliminary plat
approved for this development.
Board/Commission/Staff Recommendation:
At the August 17, 1998,Planning and Zoning Commission meeting, the Commission voted
unanimously to favorably recommend this case. Staff recommends approval for Construction.
The Department's of Public Works, Fire, and Community Development concur with this
recommendation.
3. Conduct a Public Hearing on the Proposed Tax Rate for Fiscal Year 1998-99 and
Provide Taxpayers an Opportunity to Express their Views on the Tax Increase.At the
End of the Hearing,the City Council Must Set and Announce the Date,Time and Place
of the Meeting at Which it Will Vote on the Final Proposed Tax Rate.
Executive Summary
In accordance with the"Truth-in-Taxation"laws of the State of Texas,on August 11, 1998 the
City Council took a role call vote on the proposed tax rate and scheduled a public hearing on
the tax rate for September 8, 1998. The results of the record vote on the proposed tax rate and
the notice of the public hearing was published in the Wylie News on August 19,1998.
Item No. Agenda Item Action Taken
Executive Summary-continued
The September 8 public hearing was not held due to non-compliance of the posting
requirements set forth in the Open Meetings Act. The hearing was rescheduled for September
16, 1998 to allow staff to continue the previous time line and conduct the second public hearing
on September 22, 1998. The September 16, 1998 public hearing has been advertised in
compliance with the publication requirements set forth in the Truth-in-Taxation Law.
The purpose of the public hearing on September 16, 1998 is to give the taxpayers an
opportunity to express their views on the tax increase. The City Council may not adopt the tax
rate at this hearing.Instead,at the end of the hearing,it must set and announce the date,time and
place of the meeting at which it will vote on the final proposed tax rate. The second public
hearing will be on September 22, 1998 to vote on the final tax rate. After the September 16,
1998 meeting and before the meeting scheduled for the final tax vote,the City Council must
publish a second quarter-page notice-"Notice of Vote on Tax Rate".
The official detailed effective tax rate calculations available in the office of the Collin County
Tax Assessor/Collector(Kenneth Maun)in McKinney. A copy is also maintained in the Finance
Department for the Council and the public to view.
Board/Commission/Staff Recommendation
The staff recommends that the Council schedule the next required hearing on the tax increase
for September 22, 1998 after the close of the public hearing.
Staff Reports
Citizen Participation
Executive Session
In accordance with Chapter 551,Government Code,Vernon's Texas Codes Annotated
(Open Meeting Law).
Section 551.071,Discussion with City Attorney on a matter concerning Kansas City Southern
Railroad in which the duty of the attorney to the governmental body under the Texas
Disciplinary Rule of Professional Conduct of the State of Texas clearly conflicts with this
Chapter;and
Section 551.075 Conference with City Employees to review information from employees
concerning Kansas City Southern Railroad;and
Sections 551.071 Consultation with City Attorney;and 551.075 Conference with Employees
to Discuss Issues Regarding the Future Development of Spring Creek Parkway.
Reconvene into Open Meeting
Take any action as a result of Executive Session.
Adjournment.
I certify that this Notice of Meeting was posted on this the day of
1998 at 5:00 p.m. as required by law in accordance to Section 551.042 of the Texas
Government Code.
City Secretary Date Notice Removed
The Wylie Municipal Complex is Wheelchair accessible. Sign interpretation or other special assistance for
disabled attendees. Must be requested 48 hours in advance by contacting the City Secretary's Office at
972/442-8100 or TDD 972/442 8170.
WYLIE CITY COUNCIL
CONSENT AGENDA ITEMrt/VI
September 16, 1998
Item A
Approval of the Minutes from the Special Called Meetings of August 4 and August 27 and the Regular
Meetings of August 11 and August 25, 1998.``
Item for Individual Consideration
Page I
WYLIE CITY COUNCIL
CONSENT AGENDA ITEM
September 16, 1998
Item B
Issue:
Consider and Act Upon a Final Plat for the Heatherwood Estates Addition, Proposed by Charles and
Tracy Lester, Generally Located at the Northwest Corner of Heatherwood Drive and Lanwood Drive,
and Being All a Certain 7.345 Acre Tract Out of the Francisco De La Pina Survey, Abstract No. 688,
City of Wylie, Collin County, Texas.
Background:
The final plat under consideration is for the Heatherwood Estates Addition. The applicant is platting
7.345 acres in order to develop the property with 17 single family residential lots. The property is
currently vacant, unplatted, and zoned for SF-2 (Single Family Residential) uses.
Financial Considerations:
Impact fees for 17 lots in the Heatherwood Estates Addition amount to $35,904.00
Other Considerations:
Staff has reviewed the proposed plat for the Heatherwood Estates Addition and found it to be
in compliance with the Subdivision Regulations and other pertinent ordinances of the City of
Wylie.
Commission Recommendation:
At the August 17, 1998, Planning and Zoning Commission meeting, the Commission voted
unanimously to favorably recommend this case.
Staff Recommendation:
Approval for Construction. The Department's of Public Works, Fire, and Community Development
concur with this recommendation.
Attachments:
Final Plat Application
Final Plat
)11-fildtt C6,0
Prepared by Revi d by Financ City Manager Approval
Consent Agenda Item
Final Plat-Heatherwood Estates Addition
Page I
Page 1 of 3 City of Wylie
(1/95)
APPLICATION AND FINAL PLAT CHECKLIST
Date 7'7Y
Name of Proposed Development /7/L t-- e��f.4
WrK�
Name of Property Owner/Developer / PLt4S T `j
Address fWA91NC - Phone 97Z"
Owner of Record $ .0
Address Z F74-S Oc-Lef- Phone 4721- 7201-7r
Name of Land Planner %' Q ae/A-rxd.
Surveyor/Engineer
Address / 2 7' ,C -• W yLAC, Phone "/2- 7'V 7•
Total Acreage 7. L/3 - Current Zoning
Number of Lots/Units // poNs -S- -7 )-0-9 1 C. ars/
Signed
The Final Plat shall generally conform to the Preliminary Plat, as approved by the City Council and
shall be drawn legibly to show all data on a scale not smaller than 1" = 100' with a graphic scale
provided. Six sets of direct prints and three Mylars of all originals, plus one on Mylar to be 17-1/2"
x 23-3/4" shall be submitted. Plats prepared using AutoCad or other computer aided design
techniques shall also provide a copy of all drawings on diskette to the City.
The following Final Plat Checklist is used to check compliance with the Wylie Subdivision
Regulations. The following checklist is intended only as a reminder and a guide for those
requirements.
WYLIE CITY COUNCIL
CONSENT AGENDA ITEMriti/PJ
September 16, 1998
Item C
Issue:
Consider and Act Upon a Final Plat for the Park Road Elementary School Addition, Proposed by Glenn
Engineering Corporation for the Wylie Independent School District, Generally Located at the Northeast
Corner of FM 1378 and McMillen Road and Being All of a Certain 10.799 Acre Tract and All of a
Certain .574>.Acre Tract Out of the Charles Atterbury Survey, Abstract No. 22, City of Wylie, Collin
County, Texas.
Background:
The final plat under consideration is for the Park Road Elementary School Addition. The applicant is
platting 11.373 acres in order to develop the property with an elementary school. The property is
currently vacant, unplatted, and zoned for SF-A (Single Family Attached) and SF-2 (Single Family
Residential) uses.
Financial Considerations:
The final plat application fees have been waived. Impact fees for 1 lot in the Park Road Elementary
School Addition amount to $24,119.78
Other Considerations:
Staff has reviewed the proposed plat and found it to be in compliance with the Subdivision Regulations
and other pertinent ordinances of the City of Wylie.
Commission Recommendation:
At the August 17, 1998, Planning and Zoning Commission meeting, the Commission voted unanimously
to favorably recommend this case.
Staff Recommendation:
Approval for Construction. The Department's of Public Works, Fire, and Community Development
concur with this recommendation.
Attachments:
Final Plat Application
Final Plat
Mivtte, Cisa4,46
repared by ev' ed by Financ City Manager Approval
Consent Agenda Item
Final Plat-Park Road Elementary School Addition
Page 1
Page 1 of 3 City of Wylie
(1/95)
APPLICATION AND FINAL PLAT CHECKLIST
Date 'l 114'1
Name of Proposed Developmen[P-P4Z L oL t ELEA,Ac -L.- 4a ,�--
Name of Property Owner/Developer ( i E-
Address cl`JI 5 A„-1-1 RiS,Lt-/Ng--30 fir, Phone 4-d-�.-- S4-4- 41-
Owner of Record J `-( L.\ C— \ .12
Address 913\ Phone 4-4-z— 4-�-4-
Name of Land Planner 6 LL 1 jv co N-e Vv W-Lr k��3E�c cJ
Surveyor/Engineer
Address 'c � - ( ;r,.� 5�, 12. Z- o Phone q 1 -11-7—S► I
Total Acreage \. 0 - ct 9 Current Zoning S}
Number of Lots/Units
Signed C
/ 1 Si
The Final Plat shall generally conform to the Preliminary Plat, as approved by the City Council and
shall be drawn legibly to show all data on a scale not smaller than 1" = 100' with a graphic scale
provided. Six sets of direct prints and three Mylars of all originals, plus one on Mylar to be 17-1/2"
x 23-3/4" shall be submitted. Plats prepared using AutoCad or other computer aided design
techniques shall also provide a copy of all drawings on diskette to the City.
The following Final Plat Checklist is used to check compliance with the Wylie Subdivision
Regulations. The following checklist is intended only as a reminder and a guide for those
requirements.
WYLIE CITY COUNCIL
INDIVIDUAL CONSIDERATION
September 16, 1998
Item No. /.
Issue
Consider and act upon the award of the City's bank depository contract to American National Bank for
a two (2)year period with two (2) one-year extension options.
Background
City staff issued a Request For Proposal (RFP) for a Bank Depository Contract and hand delivered the
RFP to Provident and American National Banks on July 17, 1998. An optional pre-bid conference was
held on July 27, 1998 to review the contents of the RFP and to provide an opportunity to ask questions
about the contract proposal or the bidding procedures. Provident Bank was the only bidder to appear
at this meeting and did not wish staff to review with them any of the detailed requirements of the RFP.
The bids for depository services were due on August 12, 1998 at 2 P.M. and the City received proposals
from American and Provident banks.
Upon receipt of the bids, staff started a review of the RFP's submitted to see if the bidders completed
the bid form (the RFP) correctly and provided the requested information necessary to evaluate the
proposals. The RFP clearly states what kind of accounts and services are necessary to meet the City's
requirements. A mandatory requirement for the City is that all accounts be interest bearing. The RFP
specifies the estimated level of activity in major checking accounts, asks what will be the cost of services,
how will the services be paid and what is the methodology for calculating interest on city accounts. The
RFP form provided fill in the bank spaces for all of the major points of interest listed above and the
bidder had the option to respond to those questions on a separate attachment. The Staff did approach
both bidders with questions to clarify particular points of what each submitted and to point out that some
fill in the blank questions in the RFP were not answered.
American National Bank's (ANB) was clearly responsive to the major requirements of Section IV
ACCOUNT ACTIVITIES AND BANK CHARGES of the RFP. The main requirements in this section
include interest bearing accounts for the Operating and Payroll with unlimited transactions, direct
deposit of payroll, detailed costs for banking activity, how payments for services would be made or
interest paid on city accounts and the basis of how interest would be calculated on the Operating and
Payroll checking accounts.
Provident National Bank(PNB) in Section IV ACCOUNT ACTIVITIES AND BANK CHARGES, A.
of the bid submitted did not specify that the City's main checking accounts, Operating and Payroll,
would be interest bearing and with unlimited transitions. PNB did not respond to Section IV D. Payment
for Services and Section IV G. Interest on Money Market Checking Accounts. The issue of direct
deposit of payroll was also a consideration from an administrative work load and convenience
perspective. ANB provides for electronic transfer of information on the Wednesday proceeding the
Friday payroll. PNB requires that a computer disc file be physically delivered to the Dallas Operating
Center, etc.
Item for Individual Consideration
Bank Depository Contract
Page 1
Background Continued
Both of the banks did meet the qualifications in Section IX OTHER STIPULATIONS, F. Selection of
Depositories as it relates to bank rating guidelines. A summary of the bank ratings can be found in the
attachment labeled "Bank Depository Contract RFP Analysis". Basically, as specified in the RFP, both
banks exceeded the minimum requirement from each of the two rating services with American National
Bank receiving a higher rating by both rating services.
Financial Considerations
Attached to the agenda is an analysis titled "Bank Depository Contract RFP Analysis" which lists the
main points of the RFP that relate to cost for services, fill in the blank questions, optional services
desired and bank rating guidelines. The above analysis contrasts the two banks where there is sufficient
information to make a comparison.
There was sufficient information to contrast the cost of services between American and Provident banks.
The estimated cost of banking activities is $1,522.50 for American and $3,132.00 for Provident. Due
to the lack of responses and key information from Provident Bank, no meaningful comparison can be
made on future interest earnings between the two banks. Attached is a four year history of interest paid
by American National Bank on the City's accounts.
Staff believes that the bid submitted from American National Bank is the only bid which meets all of the
criteria for selection as described in Section III CRITERIA FOR EVALUATION ON pages three (3)
and four (4) of the RFP.
Other Considerations
The City Council can reject all bids and instruct staff to start the process over again with a new RFP for
selection of a city depository. Another alterative that is open to the City Council is to solicit depository
services outside the corporate boundaries of the City of Wylie.
Board/Commission Recommendation
N/A
Staff Recommendation
The staff recommends that the City Council accept the bid by American National Bank and approve a
Resolution designating the American National Bank as a corporate depository for the City of Wylie.
Attachments
RFP submitted by American National Bank
Bank Depository Contract RFP Analysis
Interest Earnings - American National Bank
Resolution
Prepared by Revi ed by Finance City Manager Approval
Item for Individual Consideration
-Bank Depository Contract-
Page 2
REQUEST FOR PROPOSAL
V . 4'
TV 1-11
WYLIE
BANK DEPOSITORY CONTRACT
JULY 1998
TABLE OF CONTENTS
I. INTRODUCTION 2
II. CALENDAR OF EVENTS 3
III. CRITERIA FOR EVALUATION 3
IV. ACCOUNT ACTIVITIES AND BANK CHARGES 4
A. Accounts 4
B. Required Services 5
C. Bank Statements 7
D. Payments for Services 8
E. Daily Reporting 8
F. Funds Availability 8
G. Interest on Money Market Checking Accounts 9
H. Pledge Requirements 9
I. Account Reconcilement Service 9
J. Automatic Payroll Deposit 9
K. Error Corrections 10
V. COLLATERAL REQUIREMENTS 10
A. Securities Pledged 10
B. Reporting Requirements 10
C. Safekeeping 11
D. Collateral Defined 11
E. Substitutions 12
F. Maximum Amount Offered 12
G. FIRREA of 1989 12
VI. INVESTMENTS 13
VII. SECURITIES CLEARANCE AND SAFEKEEPING
OF CITY INVESTMENTS 13
VIII. OVERDRAFTS 14
IX. OTHER STIPULATIONS 14
A. Notices 14
B. Right to Cancel Contract 14
C. Wire Transfers 15
D. Audit 15
E. Open Records 15
F. Selection of Depositories 15
G. Financial Reports 16
H. Merger 15
I. Applicable Laws 16
J. Term on the Contract 16
X. BIDDING INSTRUCTIONS/REQUIREMENTS 17
XI. OTHER MISCELLANEOUS 17
XII. SUBMISSION CHECKLIST 18
APPENDIX 20
CASH ACTIVITY
1
INTRODUCTION
The City of Wylie is seeking applications from eligible institutions to be the Banking
Services Depository. This includes the basic services of receiving deposits, paying items,
wiring funds out, receiving funds wired in, stop payments, and other normal business
banking activities. This agreement will not cover any investment transaction activities
other than safekeeping services to include receiving and delivering securities, coupon
collections, and maturity collections. The City plans to manage its own investment
portfolio per its investment policy.
The philosophy incorporated into this Request for Proposal (RFP) is to solicit comparable
market charges for services provided and to pay for all services provided by the bank. The
City also places a great deal of importance on the interest paid on daily deposits above any
minimum requirements.
The contract period will be two (2) years with two, one-year extension options, beginning
with the earliest date the agreement is implemented, and thereafter until the successor
depository shall have been duly selected and qualified according to State laws. At the
outset, the City wishes to communicate the primary objectives of the depository agreement,
an important component of the overall treasury program of the City of Wylie:
A. To seek a bank that is both capable of providing banking services and willing to be
attentive to the City's money matters;
B. To maximize the total dollars earned by the City on account balances in order to
be prudent and effective custodians of the taxpayers financial resources;
C. To maintain a good working relationship with the Depository Bank; and
D. To adequately compensate the Depository Bank for services provided and to allow
a reasonable profit to be earned, subject to competitive forces in the market place.
This Request for Proposal is intended to serve as the bid form for the Depository
agreement. There are several blanks to fill in and questions to answer. Please provide
such information on the RFP, or indicate on which attachment it may be found. Please
clearly restate the question when supplying answers on any supplemental pages. All points
outlined and materials requested should be incorporated into the bidder's reply to be
considered for evaluation.
The depository review process will be coordinated by Brady Snellgrove, Finance Director.
The City desires to enter into a contract that will maximize the City's interests, yet will be
viewed as a good agreement on behalf of the bank. Mr. Snellgrove, Finance Director will
Page 2 - Bank RFP
be available to answer any questions pertaining to this RFP. His phone number is (972)
442-8141.
II. CALENDAR OF EVENTS
Target Date Description of Events
July 22, 1998 Advertise bank depository notice in the newspaper and
distribute Requests for Proposals.
July 27, 1998 Optional pre-bid conference for bidders to review RFP
contents at 10:00 a.m., at the Wylie Municipal Building,
2000 Highway 78.
August 12, 1998 Receive proposals from interested banks. Bids to be opened
at 2:00 p.m. at the Wylie Municipal Building, 2000
Highway 78
August 25, 1998 Review recommendation with City Council and award
contract.
October 1, 1998 (Estimate) New Bank Depository contract period begins.
III. CRITERIA FOR EVALUATION
The City will review the submitted proposals carefully. The recommendations will be
based on the bid determined to be best on behalf of the City and the taxpayers. As an
indication of what will be considered in the evaluation of the proposals, the following areas
are listed:
A. Ability to provide sufficient collateral for deposits.
B. Financial stability of the bank as defined in Section IX F., "Other Stipulations".
C. Ability to perform the requested services.
D. Agreement to points outlined in this RFP
E. Cost of banking services
F. Rates paid on interest bearing accounts.
Page 3 - Bank RFP
G. Acceptable safekeeping services.
H. Quality of all reports.
The City reserves the right to reject any or all proposals and waive any non-material
irregularities or information in the proposal.
IV. ACCOUNT ACTIVITIES AND BANK CHARGES
A. Accounts The City intends to establish the following bank accounts. In order to
expedite the process of printing checks and deposit slips, the City requests advance
assignment of account numbers. Please fill in all blanks contained in the following
paragraphs:
Assigned
Account Name T pe Account No.
Operating Money Market Checking 400500005
Payroll Money Market Checking 400500054
4B 96 Revenue Money Market Investment Acct. 401300306
Bond Reserve
Animal Money Market Savings 400500104
Shelter/
Library
1994 TX. Checking - no interest 400500021
Com. Dev.
Program
Sewer Grant
Clean Up/ Money Market 401300413
Green Up Investment Account
Additionally, the City reserves the right to open or close other accounts as
necessary to the municipal operation.
Money Market Checking accounts are those accounts which will pay an interest
rate on account balances above -0- with a maximum of unlimited
transactions.
Page 4 - Bank RFP
Investment
Money Market [gs accounts are those accounts which will pay an interest rate
on account balances above -0- with a maximum of 6 transactions.
The Operating Account will constitute almost all of the City's banking business
with the City's courier making daily deposits Monday through Friday to this
account. Intrabank transfers to reimburse money to other City accounts and most
wire transactions will occur in this account. This account will be used to clear all
operational checks (other than Payroll) for the City. Most securities clearance and
safekeeping activity of investments will be debited or credited against this account.
A detailed bank statement will be required, including imaging of all deposit slips
and checks and magnetic media for cleared checks. If imaging and magnetic media
are not available, all checks returned to the City must be in numeric order.
Magnetic media not available.
The Payroll Account will be set up to clear only personnel related checks for the
City. One check stock will be clearing through the account. The City will require
a detailed bank statement including imaging of all deposit slips and checks and
magnetic media for cleared checks. If imaging and magnetic media are not
available, all checks returned to the City must be in numeric order. The City
requires Direct Deposit Service from the Bank.
Magnetic media not available.
B. Required Services
Volume. The volume estimates listed in this section are based on activity in all
bank accounts.
The services requested to be made available to the City include, but are not limited
to, the following:
Fee Charged Estimated Description
Per Unit Volume of Service
* 2 Money Market Checking
* 1 Non-Interest Bearing Checking
* 2 Money Market Investment
* 1 Money Market Savings
No Charge 6 Bank Statement
No Charge 6/month First original bank statement
per account.
*Subject to Account Analysis. . .See attached Fee Schedule.
Page 5 - Bank RFP
No Charge 2/year Extra statements
* 100/month Credit posting (84 in Jan, 16 May)
* 650/month Debit posting (480 in Jan, 469 May)
* 20/month Return Items Reclear
* 10/month Return Items Reclear
Total 100/year Wire Services
* 50/year a) Incoming
Sub-total 50/year b) Outgoing
(Excludes Activities in Safekeeping
Account)
N/A 50/year 1) Repetitive by computer
* 15/year 2) Repetitive by phone
N/A 15/year 3) In-bank Repetitive by computer
No Charge 15/year 4) In-bank Repetitive by phone
No Charge 30/year 5) ACH transfers
24/year Stop Payment Requests
No Charge a) By phone or Fax
N/A b) Automated Request by terminal
No Charge 1500/year Deposit slips printed
No Charge Yes Coin wrappers furnished
No Charge 2 Night Depository Bags
No Charge 5 Zipper Bags
No Charge 1 Box Safe Deposit Box (10x10)
No Charge 5/year Cashier's Checks
NO Charge 12/year Research Hours
*Subject to Account Analysis. . .See attached Fee Schedule.
Page 6 - Bank RFP
No Charge Cost of collateral pledged by bank
Average for (Quote in $100,000 increments)
6 Accounts
N/A 6 Accounts PC On-line Balance Reporting
A) Maintenance
B) Account Charge
C) Transaction Detail
* 6 Accounts FDIC Insurance cost
Bi-weekly Fees for Direct Deposit Employees,
Total Payroll = $75,000
** a) Maintenance Charge
b) ACH Settlement
c) Other Charges (Describe)
*** 1 Account Securities clearing and safekeeping
a) Maintenance Charge
b) Short-term or long-term investment
receipt fees
c) SK valuation per $1,000
List other applicable bank charges.
These are estimates that represent projected volumes for the next year. Except as
noted above, checks will be purchased separately by the City of Wylie. The checks
will be printed by a major printing company.
C. Bank Statements
For reconciliation of the City Bank accounts the following will be required:
1. Bank statements on all accounts shall be rendered within five (5) working days
after the close of the calendar month. The statements must include all activity
occurring on the last day of the month. The City also requires imaging of all
deposit slips and checks and magnetic media for cleared checks. If imaging
and magnetic media are not available all checks returned to the city must be in
numeric order. All account statements should include debit/credit advices. For
the Operating and Payroll accounts, the City requires a bank statement
reflecting all items paid in serial number order and all deposits in date order.
*Subject to Account Analysis. . .See attached Fee Schedule
**See attached Fee Schedule
Page 7 - Bank RFP
• ***Safekeeping at no charge if purchased through ANB Brokerage Department.
D. Payments for Services
The City intends for the bank to be compensated on a direct fee basis for all account
services provided by the bank, as set forth in section IV-B. The bank shall debit the
appropriate accounts on a monthly basis. If the bank uses a method other than the
one described above, please provide an explanation.
Bank will provide Account Analysis for all accounts. Accounts with
excess earnings will be applied to accounts which would incur service
charge. Service charge will be incurred only if deficient balance exists
after netting all accounts earnings and charges.
The City shall require account analysis each month no later than fifteen(15)business
days after the end of each calendar month which shall clearly show volume counts,
fees charged, and total prices for servicing the account. The account analysis shall
also show average ledger balances, average uncollected funds, average collected
balances, interest rates and the amount of interest paid or credited to the account.
Please attach a sample Account Analysis Statement.
Fees charged to the City directly from the bank are not subject to change for the
length of this contract.
Safekeeping fees for the City's investment securities shall also be set up on account
analysis and paid monthly. The City requires that all charges for securities clearance
and safekeeping, including fees passed on from the Federal Reserve Bank, be on
account analysis and not be deducted from each security settlement.
E. Daily Reporting
The City requires a PC on-line balance reporting system that will provide the daily
ending ledger and collected balances from the prior day for all accounts, a detail of
the prior day's debits and credits, and current day ACH report.
*N/A*. . . .Telephone inquiry system available.
F. Funds Availability
The City shall receive same-day ledger credit for all funds deposited by 3:00 p.m.
and receive collected credit on the same day as the Bank receives collected credit.
Please attach a proposed availability schedule. The funds shall be investable for any
investment transactions that can be executed. If not invested, the funds shall earn
interest at whatever rate is being paid for Money Market accounts.
Page 8 - Bank RFP
G. Interest on Money Market Checking Accounts
Please provide a detailed explanation of the bank's policy and methodology used in
the setting of rates paid on money market checking and savings accounts. Specify
whether there is a separate rate quoted on public funds versus the rate quoted for
corporations and individuals, and if so, why. Also, provide a schedule of all rates
paid on money market checking accounts since January 1, 1996. Specifically
indicate if the rates are applied to the ledger balances or collected balances, and
whether it is computed daily or monthly. Indicate when the rates change, and if they
are based on a market rate such as the T-Bill discount or bond equivalent yield rate.
List minimum ledger and collected balances required to earn interest. Does the bank
offer a fixed rate of interest if the City agrees to maintain a specified collected
balance? Specify the minimum interest rate which will be paid to the City.
Surveys covering both the 25 largest institutions in the North Texas
area and competitionitj the local market territory are analyzed each week.
Rates on Public Funds are the same as those paid to corporations and
individuals. Interest is compounded daily based on collected balances.
Interest rates may change as often as weekly and are based on an analysis
of the above described surveys. No minimum balance is required to earn
interest. We do not offer a fixed interest rate nor a minimum rate.
Money Market Checking rate has been 1 .75% since 1-1-96. •
H. Pledge Requirements
The average combined ledger balances of the accounts are estimated to be $500,000
and the maximum ledger balances are estimated to be $1,000,000. Amounts above
$1,000,000 shall be invested under the direction of the City.
I. Account Reconcilement Service
Please describe the Account Reconcilement service offered by the bank and attach
a sample reconcilement statement.
N/A
J. Automatic Payroll Deposit (Direct Deposit)
Please describe the bank's procedure for this service and list appropriate cut-off
times that would apply. State whether the bank would offer any type of special
checking or money market accounts for City employees.
See attached brochure for product procedures. Cut off is 2 days
prior to effective date at 11 :00 a.m. City employees would be offered
checking with one-half of regular service charge plus first 200 checks
free.
Page 9 - Bank RFP
K. Error Corrections
The City intends to deposit all funds directly to the depository bank by courier. The
City will deposit checks in batches with a tape run for each batch. If item
processing discovers an error in the deposit, then the City requires a credit or debit
advice to be mailed to the City immediately after the account has been adjusted with
appropriate documentation attached to justify the correction. Appropriate
documentation is considered to be a copy of the City's tape with the item in
question marked and a copy of the check in question.
V. COLLATERAL REQUIREMENTS
A. Securities Pledged
As security for the deposits of the City of Wylie, the bank shall pledge to the City
securities equal to the largest total ledger balances the City of Wylie maintains in the
bank, less the amount of coverage provided by the Federal Deposit Insurance
Corporation (F.D.I.C.). The average level of collateral required is $500,000.
During prime tax collection periods for the City, which occur in the latter part of
December, January, and early February, the ledger balance may reach a maximum
of$1,500,000.
Additionally, at times, the City may maintain over $1,500,000 in its account in
anticipation of debt service payments which must be made by 10:00 a.m. on the due
date. The securities comprising the pledge shall be valued at market. The securities
so pledged, the amounts thereon and the time for pledging same shall satisfy the
requirements of Chapter 2257, Collateral For Public Funds, Government Code Title
10., and any subsequent statutes passed under Texas law. Securities purchased by
the depository bank under the terms of a Repurchase Agreement are not acceptable
as collateral to the City of Wylie.
B. Reporting Requirements
The bank shall provide the City a report of securities pledged at the end of each
month or at any time requested by the Finance Director or a designated
representative. This report should reflect the following information at the end of
each month:
Total pledged securities itemized by:
1. Name
2. Type/description/CUSIP number
3. Par value
Page 10 - Bank RFP
4. Market value at month end
5. Maturity date
6. Moody's or Standard and Poor's rating
If the market value of the pledged securities falls below the ledger balances of the
City's four accounts at any time, the City will require additional securities to be
pledged to maintain 100% collateral.
C. Safekeeping
The securities pledged shall be held in safekeeping under the name of the Depository
Bank and pledged to the City of Wylie. Safekeeping must be done at the Federal
Reserve Bank or with a third party custodial bank. The City will require a signed
three-party agreement for safekeeping.
The original copy of all security receipts shall be filed with the Finance Director of
the City of Wylie.
The City shall reimburse the Depository Bank for all charges associated with
pledged collateral at the fee rate bid in Section IV-B of this RFP.
Please submit a copy of the safekeeping agreement with the Federal Reserve Bank
to be used in the event you are awarded the Depository Bank contract. The
safekeeping agreement shall clearly state that the Federal Reserve Bank is instructed
to release the collateral to the City of Wylie if the City has determined that the bank
has failed to pay on any accounts, has been closed by a regulatory authority, or is
in default of this agreement, and if the instructions for release have been formally
requested by the City Council by ordinance or resolution.
The safekeeping agreement shall have signatories from the Federal Reserve Bank,
as Trustee, the Depository Bank, and the City of Wylie.
D. Collateral Defined
The City of Wylie will accept only the following securities as collateral:
1. FDIC and FSLIC insurance.
2. A bond, certificate of indebtedness, or Treasury note of the United States or
other evidence of indebtedness of the United States that is guaranteed as to
principal and interest by the United States.
3. Obligations, the principal and interest on which, are unconditionally
Page 11 - Bank RFP
guaranteeed or insured by the State of Texas.
4. A bond of the State of Texas or of a county, city or other political subdivision
of the State of Texas having been rated as investment grade (investment rating
no less than "A" or its equivalent) by a nationally recognized rating agency
with a remaining maturity of then (10) years or less.
E. Substitutions
Any substitutions of the securities or reductions in the total amount pledged shall be
made only by and with the proper written authorization approved by the Finance
Director or a designated representative. All securities to be pledged are subject to
approval by the City of Wylie. Any state or local government securities
(municipals) pledged to the City shall have a rating of "Al" or better by Moody's
Investor Services.
F. Maximum Amount Offered
Please state the maximum amount of pledged securities which the bank is willing or
able to commit for collateralized Money Market accounts throughout the contract
period. $20,000,000 (not less than $2,500,000).
G. FIRREA of 1989
The Financial Institution Reform, Recovery and Enforcement Act(FIRREA)of 1989
sets forth certain requirements to validate a collateral agreement (that is, to perfect
the City's security interest in the collateral supporting the City's deposits).
Specifically, FIRREA says:
*The agreement must be in writing,
*The agreement has to be executed by the depository institution and the depositing
entity making the claim contemporaneously with the acquisition of the asset.
*The agreement must be approved by the Board of Directors or the loan committee
of the institution.
*The agreement has been an official record of the institution continuously since its
execution.
The City of Wylie will require a written collateral agreement and that the bank will
provide certified resolutions of its loan committee that the bank has approved the
collateral agreement with the City.
Page 12 - Bank RFP
VI. INVESTMENTS
The City of Wylie intends to manage its own investment portfolio, therefore, the City
reserves the right to withdraw, from time to time, any amount of funds of the City that
are deposited in any City account and to invest those funds in accordance with the City's
investment policy.
VII. SECURITIES CLEARANCE AND SAFEKEEPING
OF CITY INVESTMENTS
Investment securities purchased by the City will be delivered by either book entry at the
Federal Reserve or physical delivery to the depository bank's correspondent New York
bank as outlined below.
A. The purchase and sale of all securities shall be on a delivery versus payment or
payment versus delivery basis (i.e., for securities purchases, monies will not be
released by the City's safekeeping bank until securities are received at the Federal
Reserve Bank or further credit to the City's safekeeping bank. In the case of
securities sales, monies will be received by the City's safekeeping bank via the
Federal Reserve Bank as the securities are simultaneously released to the purchaser).
In this manner, the City will always have possession of either its securities or its
monies.
B. All physical delivery securities (those transferred by physical delivery) shall be held
by the depository's correspondent bank in New York City. The City's depository
bank shall issue a safekeeping receipt to the City evidencing that the securities are
held by the depository's correspondent bank for the City.
C. The City will send written instructions to the securities clearance department for
each transaction. Most of these instructions will be sent by facsimile to assure the
timeliness of the operation. The City expects the bank to give prompt notification
of any settlement problems, including securities delivered where the instructions do
not match or where instructions have not been given to the bank.
D. All securities shall be perfected in the name of the City. All book entry securities
owned by the City shall be evidenced by a safekeeping receipt issued to the City and
signed by the appropriate officer at the safekeeping bank stating that the securities
are held in the Federal Reserve System in CUSTOMER ACCOUNT/02 naming the
City as the "Customer". In addition, the safekeeping bank will, when requested,
furnish a copy of the delivery advice received by the safekeeping bank from the
Federal Reserve Bank.
E. The original safekeeping receipt for each transaction, including purchased securities
Page 13 - Bank RFP
under a Repurchase Agreement, will be forwarded to the Director of Finance or his
designated representative.
VIII. OVERDRAFTS
The City does not intend to have an overdraft position on any of its bank accounts singly
or net throughout the course of the Depository contract. In the event of a check or checks
presented for payment on any City account where there are insufficient funds available
for payment, the City will require the Depository Bank to pay said checks and promptly
notify the Finance Director or designated representative of the existence of the overdraft
situation. The City agrees to cover the overdraft within one business day. Define
whether the bank would consider an overdraft to be a negative balance in any individual
City account or a negative balance in the four City accounts collectively. Should an
overdraft occur, what stipulations would apply?
Overdrafts only if net balance of all accounts is negative.
Charge would be same as short term loan rate (WSJ Prime).
The City does not intend to have daylight overdrafts; however, if the City both sells and
purchases securities in the same day, depending in what sequence the wires are received,
a daylight overdraft could be created. Describe you bank's policy in such an event, and
what charges, if any, would be made to the City's account? What is the amount of the
ceiling which limits daylight overdrafts for your bank?
No daylight overdraft restrictions or charges.
IX. OTHER STIPULATIONS
A. Notices
The successful bidder shall notify the City in writing within ten (10) days of any
changes in Federal or State regulations or laws that would thereafter affect the
depository agreement. The bank shall also notify the City of any services that
become available to the City throughout the contract period.
B. Right to Cancel Contract
In the event it becomes illegal under the provisions of any Federal statute of
regulation for the Bank to pay interest in the manner outlined in the RFP, the City
expressly reserves the right and privilege to cancel the contract and to re-bid the
depository services.
Page 14 - Bank RFP
C. Wire Transfers
Notification to the City of incoming wire transfers or problems with outgoing wire
transfers shall be made within one hour of the transaction. The City requires two
authorized employees' signatures to be on repetitive wire set-up paperwork. All
authorized employees should be issued a personal identification number to initiate
wires. If the wire is non-repetitive, the City requires the bank funds transfer
personnel to call the City back and specifically request to speak to an authorized
employee, other than the person initiating the wire, to achieve verification that the
wire is authorized prior to releasing it.
D. Audit
The bank's records relating to the City of Wylie's accounts shall be open to review
by either City staff members or City-appointed independent auditors during normal
business hours.
E. Open Records.
The bank's records of City transactions may be considered public records pursuant
to the Texas Open Records Act.
F. Selection of Depositories
The City shall maintain a list of authorized banks and savings and loans which are
approved to provide Certificates of Deposit. To be eligible for authorization, a
bank or savings and loan must be members of the FDIC and meet the minimum
credit criteria (described below) of a credit analysis provided by a commercially
available bank rating service such as Prudent Man Analysis, Inc., or Sheshunoff
Public Finance Bank Rating Service. Banks or savings and loans failing to meet the
minimum criteria or, in the judgement of the Finance Director, no longer offer
adequate safety for the City, will be removed from the list.
Bank rating guidelines will be calculated using publicly available information
obtained from the Federal Reserve, the Comptroller of the Currency, or the banking
institution itself. Data obtained from bank rating services will include factors
covering the following: overall rating, liquidity policy, credit risk policy, interest
rate policy, profitability and capital policy. Financial institutions selected to issue
certificates of deposit to the City in excess of $100,000 or that are selected as
Safekeeping or Custodial agents or selected as the Banking Services Depository for
the City shall meet the following criteria: 1) have a Sheshunoff Public Finance Peer
Group Rating of thirty or better on a scale of zero to one hundred with one hundred
being the highest rating at the time of selection or 2) have a Prudent Man Express
Analysis overall rating of three or better on a scale of one to five with one being the
highest quality for the most recent reporting quarter before the time of selection, and
3) qualify as a depository of public funds in the State of Texas.
Page 15 - Bank RFP
The Director shall maintain a file of the credit rating analysis reports performed for
each approved firm.
In addition to the foregoing requirements, with respect to bond proceeds and
reserves or other funds maintained for debt service purposes, a depository of such
funds must be selected by competitive bidding by two banks located within the
boundaries of the City or if there are not two banks available within the City's
boundaries that are willing and able to accept such deposits, then at least three bids
must be obtained from banks situated in Collin County that are willing and able to
accept such deposits.
G. Financial Reports
The proposing bank shall submit a copy of the last annual financial statements along
with the last quarterly FDIC call report. The successful bidder shall provide to the
City each quarterly call report (Schedule RC only), each quarterly and annual
financial report to the shareholders and any public information concerning changes
in the ownership, management, or financial position of the bank or its parent.
H. Merger
Not withstanding any other provision of this agreement which may be to the
contrary, this agreement and the respective rights and obligations of the parties
hereunder shall remain in full force and effect and not otherwise be affected by a
merger of the bank.
I. Applicable Laws
This contract is governed by the laws of the State of Texas. Venue shall be
exclusively in Collin County.
J. Term on the Contract
The beginning date of the bank depository contract will be established after City
Council approves the awarding of the contract, to be effective for a period of two
years. If mutually agreed upon by the City and the bank, the contract period may
be extended up to one year, not to exceed two extensions; however, the agreement
to extend must be reached at least 90 days prior to the end of the contract or the
most recent extension.
Page 16 - Bank RFP
X. BIDDING INSTRUCTIONS/REQUIREMENTS
A. Sealed proposals clearly marked "Bid for Depository Contract" should be delivered
to the following person by 2:00 p.m., August 12, 1998.
Jim Holcomb
Purchasing Agent
City of Wylie
2000 Highway 78 North
Wylie, TX 75098
NO BID SHALL BE RECEIVED AFTER 2:00 P.M.
LATE BIDS WILL BE RETURNED UNOPENED
B. The proposing bank should use this RFP form as the Official Bid Form to submit
rates and answer questions. Any alternations, changes or deletions to this RFP may
be reason for the City to disregard and reject the proposal. Additional pages should
be attached as needed and should reference the question to which a response applies.
C. The City reserves the right to request additional information or to meet with
representatives from proposing banks to discuss points in the proposal before and
after submission, any and all of which may be used in forming a recommendation
and the contractual depository agreement.
D. The City reserves the right to reject any and all proposals.
E. The bidder states that it is a banking institution chartered under laws of the United
States or of the State of Texas.
XI. OTHER MISCELLANEOUS
A. The City of Wylie shall require a review meeting at least once every six months to
evaluate the working relationship between the City and the Depository and the
Depository Bank. The objective shall be to address any problems and to discuss the
procedures involved in protecting the City's funds and pledged collateral.
B. The final appointment of a Depository Bank shall be made by the Wylie City
Council. The bidder may be required to enter into a contract which incorporates all
of the obligatory points in this RFP. Otherwise, an ordinance shall be adopted
accepting the bank's completed RFP as the Official Bid Form with accompanying
related schedules and materials called for in this RFP.
Page 17 - Bank RFP
C. This RFP has been reviewed and approved by the Director of Finance.
D. This Request for Proposal has been duly advertised and is being offered for
consideration to all interested banks inside the corporate limits of the City of Wylie.
E. Upon being awarded the contract, the Depository Bank shall designate, in writing,
an individual to be the official contact person for all correspondence. The City of
Wylie's official contact person will be at 442-8141. The Depository Bank shall be
responsible for training and communicating the terms of this contract to the Bank
Employees.
F. This proposal is being submitted by the following person duly authorized to act on
behalf of the bank:
..-'Xi,;; J r Sc4--- ..Se- &if
Officer's ame atitle (Please Print)
Offcer's Signa re �f� Kn,
/ MeriG /c�d49,74-/ 46,94� of / q'A
Name of Bank
s-//_VY
DaW _Pa /
: Sex �d /e'o / /fix 257/z' p„ -5'>.24.//
Address and Telephone Number
XII. SUBMISSION CHECKLIST
A. Completed and signed RFP
B. Sample bank statement
C. Sample partial account reconciliation statement
D. Availability of funds schedule with a clear explanation of deadlines
E. Sample account analysis statement
F. Explanation of basis for Money Market rates
G. Sample monthly collateral report
H. Sample safekeeping agreement with the Federal Reserve for collateral.
Page 18 - Bank RFP
I. Sample safekeeping agreement with the Depository Bank for the City's investment
securities
J. Sample funds transfer agreement
K. Sample stop-payment agreement
L. Annual financial statement of the bank along with the last two quarterly FDIC call
reports
Page 19 - Bank RFP
CITY OF WYLIE
MONTHLY CASH FLOW
MONTH END BALANCES
AVERAGE LEDGER AND COLLECTED BALANCES
JULY 97 THROUGH JUNE 98
MONTHLY
MONTHLY CASH FLOW JULY 97 AUG 97 SEP 97 OCT 97 NOV 97 DEC 97 JAN 98 FEB 98 MAR 98 APR 98 MAY 98 JUNE 98 AVERAGE
MONTHLY REVENUES 745,485 821,820 837,734 651,821 861,396 1,969,018 2,135,008 3,356,606 607,756 1,695,017 865,402 1,439,020 1,332,174
MONTHLY EXPENDITURES 1,008,772 1,527,720 1,149,433 755,207 1,050,161 1,556,258 1,610,561 3,640,454 703,589 2,551,760 961,226 877,795 1,449,411
ENDING CASH BALANCE
c OPERATING ACCOUNT 367,440 234,764 64,382 32,160 42,032 505,043 228,018 235,484 97,057 303,295 810,605 346,025 272,192
PAYROLL ACCOUNT 72,452 8,238 8,333 8,335 7,900 74,939 8,175 8,180 8,187 8,195 8,141 8,150 19,102
AVERAGE LEDGER AND
COLLECTED BALANCES
OPERATING:
AVG LEDGER BALANCE 464,347 287,194 227,540 197,487 187,749 354,291 419,115 600,905 275,169 403,618 373,600 408,168 349,932
AVG COLLECTED BALANCE 418,447 267,631 211,503 179,336 172,452 338,398 39,107 585,025 260,461 378,194 361,176 353,322 297,088
PAYROLL:
AVG LEDGER BALANCE 25,593 23,110 23,242 19,965 25,867 25,609 26,376 25,375 25,298 26,283 26,756 26,757 25,019
AVG COLLECTED BALANCE 25,592 23,110 23,242 19,965 25,867 25,609 26,376 14,275 25,298 26,283 26,756 26,757 24,094
BANK DEPOSITORY CONTRACT
RFP ANALYSIS
AMERICAN PROVIDENT
SERVICE VOLUME PER ITEM TOTAL TOTAL PER ITEM
IV ACCOUNT ACTIVITIES AND BANK CHARGES;
A. ACCOUNTS-DESCRIBES THE PRIMARY
BANK ACCOUNT TYPES DESIRED BY THE CITY.
MONEY MARKET CHECKING ACCOUNTS:FILL ACCEPTABLE NOT ACCEPT. (1)
IN THE BLANKS.
(1)DID NOT NOT BID REQUSESTED ACCOUNT TYPE.
MONEY MARKET SAVINGS ACCOUNTSILL ACCEPTABLE ACCEPTABLE
IN THE BLANKS.
IMAGING FOR CLEARED CHECKS AND DEPOSIT SLIPS. YES NO
MAGNETIC MEDIA FOR CLEARED CHECKS. NO YES
B.REQUIRED SERVICES:
MONEY MARKET CHECKING 2 7.50 15.00 0.00 N/C
NON-INTEREST BEARING CHECKING 1 7.50 7.50 10.00 10.00
MONEY MARKET INVESTMENT 2 7.50 15.00 0.00 N/C
MONEY MARKET SAVINGS 1 7.50 7.50 0.00 N/C
SUB-TOTAL 45.00 10.00
BANK STATEMENTS 6 N/C 0.00 0.00 N/C
FIRST ORIGINAL BANK STATMENT 6/MONTH N/C 0.00 0.00 N/C
PER ACCOUNT
EXTRA STATEMENTS 2/YEAR N/C 0.00 2.00 1.00
SUB-TOTAL 0.00 2.00
CREDIT POSTING 100 MONTH 0.25 25.00 20.00 0.20
DEBIT POSTING 650 MONTH 0.15 97.50 97.50 0.15
RETURN ITEMS RECLEAR 20 MONTH 3.00 60.00 100.00 5.00
RETURN ITEMS RECLEAR 10 MONTH 3.00 30.00 50.00 5.00
SUB-TOTAL 212.50 267.50
WIRE SERVICES
INCOMING 50 YEAR 10.00 500.00 250.00 5.00
OUTGOING 50 YEAR 10.00 500.00 500.00 10.00
REPETITIVE BY COMPUTER 50 YEAR N/A 0.00 0.00 N/A
REPETITIVE BY PHONE _ 15 YEAR N/C 0.00_ 0.00 N/C
IN-BANK REPETITIVE BY COMPUTER 15 YEAR N/A 0.00 0.00 N/C
IN-BANK REPETITIVE BY PHONE 15 YEAR N/C 0.00 0.00 N/C
ACH TRANSFERS 30 YEAR N/C 0.00 0.00 ?
SUB-TOTAL 1,000.00 750.00
STOP PAYMENT REQUESTS 24 YEAR
BY PHONE OR FAX N/C 0.00 480.00 20.00
AUTOMATED REQUEST BY TERMINAL N/A 0.00 0.00 N/A
-
SUB-TOTAL 0.00 480.00
BANKBID.WK4 08/31/98 09:23 AM 1
BANK DEPOSITORY CONTRACT
RFP ANALYSIS
AMERICAN PROVIDENT
SERVICE VOLUME PER ITEM TOTAL TOTAL PER ITEM
DEPOSIT SLIPS PRINTED 1500 YEAR 0.00 0.00 0.00 0.00
COIN WRAPPERS FURNISHED YES 0.00 0.00 YES
NIGHT DEPOSITORY BAGS 2 N/C 0.00 40.00 20.00
ZIPPER BAGS 5 N/C 0.00 25.00 5.00
SAFE DEPOSIT BOX(10 x10) 1 N/C 0.00 0.00 0.00
CASHIERS CHECKS 5 YEAR N/C 0.00 12.50 2.50
RESEARCH HOURS 12 YEAR N/C 0.00 240.00 20.00 hour
SUB-TOTAL 0.00 317.50
COST OF COLLATERAL PLEDGED BY AVG.FOR N/C 0.00 0.00 N/C
BANK(quote in$100,000 increments) 6 ACCOUNTS
PC ON-LINE BALANCE REPORTING: N/A N/A
MAINTENANCE
ACCOUNT CHARGE
TRANSACTION DETAIL
FDIC INSURANCE COST 6 ACCOUNTS N/C 0.00 0.00 N/C
SUB-TOTAL 0.00 0.00
FEES FOR DIRECT DEPOSIT EMPLOYEES:
MAINTENANCE CHARGE 26 10.00 260.00 1,300.00 50.00
ACH SETTLEMENT 50 0.10 5.00 5.00 0.10
OTHER CHARGES:
RETURNED ITEMS 3.00 0.00 0.00 N/C
SETUP&TRAINING 150.00 0.00 0.00 N/C
SUB-TOTAL 265.00 1,305.00
TOTAL BANK CHARGES FOR ESTIMATED ACTIVITIES GRAND TOTAL 1,522.50 3,132.00
C.BANK STATEMENTS-REQUIREMENTS:
1. IMAGING OF CLEARED CHECKS YES NO
2. IMAGING OF DEPOSITS SLIPS YES NO
2. MAGNETIC MEDIA FOR CLEARED CHECKS NO YES
NOTE-IMAGING SERVICES IS THE HIGHER PRIORITY.
D.PAYMENT FOR SERVICES: RESPONDED (2) NO
D.IS A MAJOR FILL IN THE BLANK OR A RESPONSE
WRITEN ATTACHMENT IS REQUIRED.
(THIS SECTION DISCUSSES HOW THE
BANK WILL BE COMPENSATED.)
(2)ANB WILL PROVIDE ACCOUNT ANALYSIS FOR ALL ACCOUNTS.ACCOUNTS
WITH EXCESS EARNINGS WILL BE APPLIED TO ACCOUNTS WHICH WOULD INCUR
SERVICE CHARGE.SERVICE CHARGE WILL BE INCURRED ONLY IF DEFICIENT
BALANCE EXISTS AFTER NETTING ALL ACCOUNTS EARNINGS AND CHARGES.
BANKBID.WK4 08/31/98 09:23 AM 2
BANK DEPOSITORY CONTRACT
RFP ANALYSIS
AMERICAN PROVIDENT
SERVICE VOLUME PER ITEM TOTAL TOTAL PER ITEM
E.DAILY REPORTING:
1.PC ON-LINE BALANCE REPORTING SYSTEM N/A N/A
IS PREFERRED.
2.DAILY FAX-ACCOUNT ACTIVITY
_ YES
3.TELEPHONE INQUIRY YES YES
G.INTEREST ON MONEY MARKET CHECKING ACCOUNTS: _ RESPONDED (3) NO
F. IS A MAJOR FILL IN THE BLANK OR A BELOW RESPONSE
WRITEN ATTACHMENT IS REQUIRED.
(THIS SECTION DISCUSSES HOW THE
BANK WILL BE COMPENSATE THE CITY
BY PAYING INTEREST ON THE OPERATING
AND PAYROLL CHECKING ACCOUNTS.)
(3)DETAILED NOTE IN SECTION G.,PAGE 9
OF ANB RFP RESPONSE.
I.ACCOUNT RECONCILEMENT SERVICE N/A N/A
J.AUTOMATIC PAYROLL DEPOSIT(DIRECT DEPOSIT); YES YES
CUT-OFF DEADLINES ARE THE SAME FOR BOTH BANKS.
TRANSFER OF DATA TO ANB IS BY MODEM.
TRANSFER OF DATA TO PNB IS BY DELIVERY OF
DISKETTE BY CITY TO DOWNTOWN DALLAS.
V. COLLATERAL REQUIREMENTS
F.MAXIMUMAMOUNT OF COLLATERAL OFFERED(BY BANK). 20,000,000.00 3,000,000.00
FILL IN THE BANK RESPONSE.
V-III OVERDRAFTS
NOTE,CITY WILL COVER AN OVERDRAFT WITHIN
ONE BUSINESS DAY.
FILL IN THE BLANK QUESTIONS:
1.OVERDRAFTS, YES YES
CHARGE? - YES ?
1.DAYLIGHT OVERDRAFTS, YES NO
CHARGE?
NO ?
BANKBID.WK4 08/31/98 09:23 AM 3
BANK DEPOSITORY CONTRACT
RFP ANALYSIS
AMERICAN PROVIDENT
SERVICE VOLUME PER ITEM TOTAL TOTAL PER ITEM
IX.OTHER STIPULATIONS
F.SELECTION OF DEPOSITORIES
BANK RATING GUIDELINES:
1.SHESHUNOFF PUBLIC FINANCE PEER 49 36
GROUP RATING(SPFPGR).
RANKING IS FROM 0 TO 100,WITH 100 THE HIGHEST.
CITY'S REQUIREMENT IS A RANK OF 30 OR BETTER.
2.PRUDENT MAN EXPRESS ANALYSIS(PMEA). 2 3
RANKING IS FROM 1 TO 5,WITH 1 THE HIGHEST.
CITY'S REQUIREMENT IS A RANK OF 3 OR BETTER.
N/C=NO CHARGE
N/A=NOT AVAILABLE
N/R=NO RESPONSE
BANKBID.WK4 08/31/98 09:23 AM 4
INTEREST EARNINGS - AMERICAN NATIONAL BANK - COVERING A FOUR YEAR PERIOD
MM CHECKING MM CHECKING MM SAVINGS CHECKING MMIA MMIA TOTAL
OPERATING PAYROLL ANIMAL SHELTER TCDP 4B CLEANUP INTEREST
8-94-7/95 13,334.43 20.63** 441.03 0.00 0.00 0.00 13,766.09
8-95-7/96 10,477.52 296.92 471.07 0.00 2,389.75 0.00 13,635.26
8-96-7/97 8,462.29 307.03 404.27 0.00 12.70 22.13 9,198.42
8/97-7/98 4,551.06 360.77 418.99 0.00 13.00 73.23 5,417.05
36,785.30 985.35 1,735.36 0.00 2,415.45 95.36 42,016.82
**INTEREST ON PAYROLL ACCOUNT NOT AVAILABLE FOR 9/94-7/95
BANKBID.WK4 09/02/98 11:43 AM
RESOLUTION 98-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF WYLIE, TEXAS
DESIGNATING THE AMERICAN NATIONAL BANK AS A CORPORATE DEPOSITORY FOR
THE CITY OF WYLIE; AND SPECIFYING PROCEDURES AND PROVIDING AUTHORITY
FOR MAKING OF DEPOSITS, WITHDRAWALS, AND LOANS WITH SAID BANK
WHEREAS,the City Council did by unanimous vote at it's regular meeting of September 8,
1998,authorized and approve the American National bank(Bank) as a depository for the City; and,
WHEREAS, such approval was in the form of accepting the proposal for banking services
submitted by Bank;
WHEREAS, such acceptance constitutes a legally binding agreement between the City and
the Bank,the Bank requires further formal designation of its being the official depository of the City,
as established by Resolution of the City;
NOW THEREFORE BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
WYLIE, TEXAS, as follows:
RESOLVED,Than an account shall be established in the name of this Corporation with the
American National Bank, under the rules and regulations as prescribed by said Bank, wherein may
be deposited any of the funds of this Corporation, whether represented by cash, checks, notes or
other evidences of debt, and from which deposit withdrawals, are hereby authorized in the name of
the Corporation by any two (2) of the following persons:
Mike Collins, City Manager, or his temporary or permanent successors;
Brady E. Snellgrove, Finance Director or his temporary or permanent successors;
Endorsements for deposit may be evidenced merely by the name of the Corporation being written or
stamped on the instrument deposited, without designation of the party making the endorsement.
BE IT FURTHER RESOLVED, that no officers or officials, individually or in any
combination, shall have the power to borrow funds from said American National Bank on behalf of
the Corporation;unless and expect the City Council shall pass a Resolution authorizing such loan and
stating the amount and repayment terms therefore, and a certified copy of such Resolution is
presented to the said American National Bank.
BE IT FURTHER RESOLVED,That the said American National Bank is hereby authorized
to honor any and all withdrawal items against the Corporations's funds although payable to the officer
or agent signing or countersigning the name and whether presented for encashment or for credit to
the personal account of such officer or agent or any other person and said Bank need make no inquiry
concerning such items and/or the disposition of the money, items or credit given therefore.
DULY PASSED AND APPROVED by the City Council of the City of Wylie, Texas this 8th
day of September, 1998.
John Mondy-Mayor
Attest:
Barbara Salinas, City Secretary
WYLIE CITY COUNCIL
INDIVIDUAL CONSIDERATION ;4/11:
September 16, 1998
Item No.
Issue:
Consider and Act Upon a Final Plat for Phase V of the Newport Harbor Addition, Proposed by Carter
&Burgess, Inc. for Centex Homes, Generally Located Along the East Side of FM 1378 Just South of
Anchor Drive and Being All of a Certain 26753 Acre Tract Out of the James McUlmurry Survey,
Abstract No. 629, City of Wylie, Collin County, Texas.
Background:
The final plat under consideration is for Phase V of the Newport Harbor Addition. The applicant is
platting 26.753 acres in order to develop the property with 110 single family residential lots. The
property is currently vacant, unplatted, and zoned for SF-3 (Single Family Residential) uses.
Financial Considerations:
Impact fees for 110 lots in Phase V amount to $232,320.00
Other Considerations:
Staff has reviewed the proposed plat for Phase IV of the New port Harbor Addition and found it to
be in compliance with the Subdivision Regulations and other pertinent ordinances of the City of Wylie
except for notarized block length. Specifically, Section 5.02 D (2) of the Subdivision Regulations
states that the block length in residential areas shall not exceed 1,200 feet. The applicant is requesting
a variance to this requirement as the length being proposed for Block 3 is 1,500 feet. The variance
being proposed is consistent with the preliminary plat approved for this development.
Commission Recommendation:
At the August 17, 1998, Planning and Zoning Commission meeting, the Commission voted
unanimously to favorably recommend this case.
Staff Recommendation:
Approval for Construction. The Department's of Public Works, Fire, and Community Development
concur with this recommendation.
Attachments:
Final Plat Application
Final Plat
1-0‘611VaiAS19e . CerOtAA4''
Prepared by / n Rev' ed by Financ City Manager Approval
Item for Individual Consideration
Final Plat.-Newport Harbor Phase V
Page I
....... ... ...
•
Page 1 of 3 . City of Wylie (1/95)
APPLICATION AND FINAL PLAT CHECKLIST
Date July 7, 1998
Name of Proposed Development Newport Harbor, Phase V
Name of Property Owner/Developer Centex Homes :
Address 2800 Surveyor Blvd. Carrollton, TX 75006 Phone (972) 417-3562
Owner of Record Same as above
Address Phone
Name of Land Planner Carter & Burgess, Inc.
Surveyor/Engineer
Address 7950 Elmbrook Dr. 1250 Dallas, Tx 75247 Phone (214) 638-0145
Total Acreage 26.753 acres Current Z ning F-3
•
Number of Lots/Units 110
Signed •
The Final Plat shall generally conform to the Preliminary Plat, as approved by the City*Council
and shall be drawn legibly to show all data on a scale not smaller than 1" = 100'with a graphic
. scale provided.. Six sets of direct prints and three Mylars of all originals, plus one on Mylar to be
17-1/2" x 23-3/4" shall be submitted. Plats prepared using AutoCad or other computer aided
design techniques shall also provide a copy of all drawings on diskette to the City.
The following Final Plat Checklist is used to check compliance with the Wylie Subdivision
Regulations. The following checklist is intended only as a reminder and a guide for those
requirements.
Page 2 of 3
411
RECD J U L 13 1998
WYLIE CITY COUNCIL
INDIVIDUAL CONSIDERATION ;4/1
September 16, 1998
Item No. 6-
Issue
Conduct a Public Hearing on the Proposed Tax Rate for Fiscal Year 1998-99 and Provide Taxpayers
an Opportunity to Express their Views on the Tax Increase, At the End of the Hearing, the City Council
Must Set and Announce the Date, Time and Place of the Meeting at Which it Will Vote on the Final
Proposed Tax Rate.
Background
In accordance with the "Truth-in-Taxation" laws of the State of Texas, on August 11, 1998 the City
Council took a role call vote on the proposed tax rate and scheduled a public hearing on the tax rate for
September 8, 1998. The results of the record vote on the proposed tax rate and the notice of the public
hearing was published in the Wylie News on August 19,1998.
The September 8 public hearing was not held due to non-compliance of the posting requirements set
forth in the Open Meetings Act. The hearing was rescheduled for September 16, 1998 to allow staff to
continue the previous time line and conduct the second public hearing on September 22, 1998. The
September 16, 1998 public hearing has been advertised in compliance with the publication requirements
set forth in the Truth-in-Taxation Law.
The purpose of the public hearing on September 16, 1998 is to give the taxpayers an opportunity to
express their views on the tax increase. The City Council may not adopt the tax rate at this hearing.
Instead, at the end of the hearing, it must set and announce the date, time and place of the meeting at
which it will vote on the final proposed tax rate. The second public hearing will be on September 22,
1998 to vote on the final tax rate. After the September 16, 1998 meeting and before the meeting
scheduled for the final tax vote, the City Council must publish a second quarter-page notice - "Notice
of Vote on Tax Rate".
The official detailed effective tax rate calculations available in the office of the Collin County Tax
Assessor/Collector(Kenneth Maun)in McKinney. A copy is also maintained in the Finance Department
for the Council and the public to view.
Financial Considerations
The proposed budget is based on the proposed tax rate of.675 cents per $100 valuation. This is the rate
previously discussed by council. Any change in the proposed tax rate will require revision of the
proposed budget.
Item for Individual Consideration
Tax Rate
Page I
Other Considerations
The City is required by law to follow certain meeting and notice(publication) guidelines as shown on the
attached calendar excerpt from the "Truth-in-Taxation" guide.
Board/Commission Recommendation
N/A
Staff Recommendation
The staff recommends that the Council schedule the next required hearing on the tax increase for
September 22, 1998 after the close of the public hearing.
Attachments
Notice of Public Hearing Published on August 19, 1998
Notice of 1998 Property Tax Rates in City of Wylie
1998 Planning Calendar(For Taxing Unit)
07 -yr --1L C6givoe
Prepared by Rev'e ed by Finan e City Manager Approval
Item for Individual Consideration
Tax Rate
Page 2
1998 Planning Calendar
(For Taxing Unit Use)
May ? Mailing of notices of appraised value by chief appraiser.
May 15 Deadline for submitting appraisal records to ARB.
July 15 Deadline for commissioner of education to send notice to districts required to equalize
wealth.
July 20 Deadline for ARB to approve appraisal records.
July 27 Deadline for chief appraiser to certify rolls to taxing units.
Certification of anticipated collection rate by collector.
August 6 Calculation of effective and rollback tax rates.
August 12 Publication of effective and rollback tax rates; schedules and fund balances; submission to
governing body.
August 17 72-hours notice for meeting(Open Meetings Notice).
August 11 Meeting of governing body to discuss tax rate; if proposed tax rate will raise more rev-
enue than the preceding year's revenue, take record vote and schedule public hearing.
August 19 "Notice of Public Hearing on Tax Increase" (1st quarter-page notice) published at least
seven days before public hearing.
September 4 72-hour notice for public hearing (Open Meetings Notice).
September.i Public hearing; schedule and announce meeting to adopt tax rate 3-14 days from this date.
September ye'" ,"Notice
otice of Vote on Tax Rate" (2nd quarter-page notice) published before meeting to
adopt tax rate.
September 18 72-hour notice for meeting at which governing body will adopt tax rate.
September 22 Meeting to adopt tax rate. Meeting is 3 to 14 days after public hearing and by September 1,
or as soon after as practicable. School districts subject to an equalized wealth notice must
wait to adopt a tax rate until the commissioner certifies the wealth is equalized[Section 41.004(c),
Education Code].
Truth-in-Taxation—May 1998 27
Notice of Public Hearing on Tax Increase
The City of Wylie will hold a public hearing on a proposal to increase total tax
revenues from properties on the tax roll by 8.665 percent. Your individual taxes may
increase or decrease,depending on the change in the taxable value of your property in
relation to the change in taxable value of all other property and the tax rate that is
adopted.
The public hearing will be held on September 8, 1998, at 7:00 P.M. at City Hall
Council Chambers.
FOR the proposal: John Mondy J.C. Worley
Joel Scott Reta Allen
Lavern Ramsey Merrill Young
Chris Trout
AGAINST the proposal: None
PRESENT and not voting: None
ABSENT: None
The following table compares taxes on an average home in this taxing unit last year to
taxes proposed on the average home this year. Again, your individual taxes may be
higher or lower, depending on the taxable value of your property.
Last Year This Year
Average residence homestead value $78,093 $79,752
General exemptions available $0 $0
(amount available on the average homestead,
not including senior citizen's or disabled person's exemptions)
Average taxable value $78,093 $79,752
Tax rate 0.675000 0.675000
Tax $527.13 $538.33
Under this proposal, taxes on the average homestead would increase by$11.20 or 2.12
percent compared with last year's taxes. Comparing tax rates without adjusting for
changes in property value, the tax rate would increase by $0.00 per $100 of taxable
value or 0.00 percent compared to last year's tax rate. These tax rate figures are not
adjusted for changes in the taxable value of property.
12-1t-c.
PUBLISHED IN THE WYLIE NEWS ON AUGUST 19, 1998
1998 Property Tax Rates in City of Wylie
This notice concerns 1998 property tax rates for City of Wylie.It presents information about three tax rates.
Last year's tax rate is the actual rate the taxing unit used to determine property taxes last year.This year's effec-
tive tax rate would impose the same total taxes as last year if you compare properties taxed in both years.This
year's rollback tax rate is the highest tax rate the taxing unit can set before taxpayers can start tax rollback pro-
cedures.In each case these rates are found by dividing the total amount of taxes by the tax base(the total value
of taxable property)with adjustments as required by state law.The rates are given per$100 of property value.
Last year's tax rate:
Last year's operating taxes $2,311,131
Last year's debt taxes $566,591
Last year's total taxes $2,877,722
Last year's tax base $426,329,222
Last year's total tax rate 0.675000/$100
This year's effective tax rate:
Last year's adjusted taxes $2,872,526
(after subtracting taxes on lost property)
/This year's adjusted tax base $436,771,560
(after subtracting value of new property)
=This year's effective tax rate 0.657672/$100
This year's rollback tax rate:
Last year's adjusted operating taxes Appeared in the
(after subtracting taxes on lost property and adjusting Wylie News on
for transferred function) $2,306,957 y 1998
/This year's adjusted tax base $436,771,560 August 12,
=This year's effective operating rate 0.528184/$100
X 1.08=This year's maximum operating rate 0.570438/$100
+This year's debt rate 0.160399/$100
=This year's rollback rate 0.730837/$100
SCHEDULE A
Unencumbered Fund Balances
The following estimated balances will be left in the unit's property tax accounts at the end of the fiscal year.
These balances are not encumbered by a corresponding debt obligation.
Type of Property Tax Fund Balance
Maintenance&Operations $1,027,050
Interest&Sinking $158,600
SCHEDULE B
1998 Debt Service
The unit plans to pay the following amounts for long-term debts that are secured by property taxes. These
amounts will be paid from property tax revenues(or additional sales tax revenues,if applicable).
Description of Debt Principal or contract Interest to be pd Other amts Total
payment to be pd from prop taxes to be pd pmt
from prop taxes
Certificates of obligation
1990 $35,055 $3,470 $350 $38,875
Surplus Revenue Refunding
Bonds-1993 $122,362 $102,117 $350 $224,829
General Obligation Bonds
1995 $50,576 $80,804 $350 $131,730
Certificates of Obligation
1997 $44,444 $82,485 $350 $127,279
Tax Notes-1998 $130,000 $47,666 $350 $178,016
Public Property Finance Cont.Oblig. $30,000 $12,201 $350 $42,551
Total required for 1998 debt service $743,280
-Amount(if any)paid from funds listed in Schedule A $0
-Excess collections last year
$0 =Total to be paid from taxes in 1998
$743,280 +Amount added in anticipation that unit will
collect only 100%of taxes in 1998 $0
=Total Debt Levy $743,280
This notice contains a summary of actual effective and rollback tax rate calculations.You can inspect a copy of
the full calculations at1434 N.Central Expressway,Ste 116,McKinney,Texas 75069.
Name of person preparing this notice:Kenneth L.Maun
Title:Tax Assessor Collector
Date Prepared:August 6,1998 11-1t-339
- • • - • a _ • •• - • . - . . . . .