HomeMy WebLinkAboutResolution #3614RESOLUTION NO. 3614
A RESOLUTION TO ACCEPT THE CITY OF CANTON, WATER
DEPARTMENT BILL PROCESSING PLAN WITH MID-AMERICA NATIONAL
BANK
WHEREAS, the City Council of the City of Canton pursuant to the management
letter has determined that it is necessary, desirable and in the best interests of the City of
Canton to hereby accept the water bill processing plan presented by Mid-America
National Bank, Canton, Illinois
WHEREAS, the City Council of the City of Canton hereby agrees to the plan in
order to provide a dual control of receipt of money and the recording of payments.
NOW THEREFORE, BE IT RESOLVED by the Mayor and the City Council of
the City of Canton, Illinois as follows:
1. That said agreement between the City of Canton and Mid-America
National Bank hereby be approved hereto attached as Exhibit "A"
2. That this Resolution shall be in full force and effect immediately upon its
passage by the City Council of the City of Canton, Fulton County, Illinois
and approval by the Mayor thereof.
PASSED by the City Council of the City of Canton, Fulton County, Illinois at a
regular meeting this 21st day of May , 2002 upon a roll call vote as
follows:
AYES: Aldermen Fillin~~n, Shares, Meade, Carl, West, Sarff, Hartford,
Molleck
NAYS: None .
ABSENT: None .
Attest:
ri ~ ~
N cy Whites ity Clerk
Approved:
~~
Je . Bohler, Mayor
Water Bill Processing Plan
5~
This agreement made this day of , 2002, (hereinafter "Agreement")
by and between the City of Canton (hereinafter "th City") and MidAmerica National Bank
(hereinafter "MNB"), a national banking association.
MNB will make certain banking services available to the City. These services will include:
Lock Box Services -Daily pick up at a P.O. Box and processing. MNB will pick up the payments from
a P.O. Box and process the payments 6 days a week (Monday-Saturday) unless the bank or post office is
closed. The City would maintain a P.O. Box with access rights given to MNB. The MNB will pickup
envelopes, open, process, batch, and make a deposit into an account established by the City. The City
will pick the batch tickets up the next morning. The cost will be as follows:
• Equal to payments - $0.18/item
• Unequal/exception payments, including cash - $0.23/item
• Monthly maintenance/processing fee - $20.00
• $0.05 shall be added to the per item cost if the water bill form is not compatible with
the MNB's processing equipment.
Drop Box Processing - MNB will process payments dropped off by the City ftom its drop box. The
bank will open envelopes, process, batch, and make a deposit into an account established by the City.
The cost will be as follows:
• Equal to payments - $0.18/item
• Unequal/exception payments, including cash - $0.23/item
• $0.05 shall be added to the per item cost if form is not compatible with MNB's
processing equipment.
MNB will provide a checking account to the City of Canton for the water payment processing. The
account will be set up on an account analysis charge as follows:
• Account Maintenance Monthly fee - $10.00
• Checks Paid - $0.15 per check
• Items Deposited (this bank) - $0.10 per item
• Items Deposited (other bank) - $0.15 per item
• Deposits - $0.15 per deposit
Note: Compensating balances could off set the checking account charges.
These fees and costs will remain in effect through June 1, 2005.
In witness whereof, the parties have executed this agreement effective as of the day and year first
stated above.
City of Canton
By: OL.
City o Canton
Accepted:
MidAmerica National Bank
By: 1
Rick Klinedinst
Senior Vice President/Operations