Laserfiche WebLink
JP Morgan <br />S W.11!lY1L g4A n <br />June 15•'2010 <br />Christine Duai tc <br />Treasury Manager <br />20 Civic Center Plaza, M14 <br />Santa Ana, CA 92702 <br />Subject: Best and Final Response to RFY 1n. 10 -013 for Banking Services <br />Dear Ms. Duarte, <br />NMorgan Chase thank ( "J.P. Morgan ") is pleased to have the opportunity to help tire City of Santa Ana (the "City ") <br />achieve and maintain a world -class treasury and finance operation, We know meeting these financial munagement <br />objectives is critical to your mission and to meeting constituent expectations fur service excellence. This letter <br />eoaatitate.c ar our fifes[ and Final" e f(trlrc I2(�'1'(e'o. 1t1 -11 , ??�itr Bt {nj(ing, Servirc or the Ot,} ofaSrrnra Ana_ <br />You may have noticed in our proposal that we suggested some new, treasury servicw.s such as Remote Deposit (check <br />image deposit) is well as a purchasing card program. 'Pile City will be able to select and implement products and <br />services faun J.P. Morgan that we know are important to you. We wilt be proactive in listening to your need's and <br />finding the right answers. While dense solutions ran be essential tools I'or many of our clients, we rely on in- person <br />asscasmenI work with your team to rutty design the most appropriate banking platform fur your future, I ri rrder to <br />assrcr wit11.1 _C'lry nPSanta Ana s'ts�rZitisr to J.P. Aforean, we ntll r�f+tLra conversion allowance eaual f5r.1_2 <br />mwah,v o .account ritta-tyLij cliqqk.uip rn 4,5 0,0,0 rtttlh at oor of�h"30 000 dunng the j' '�t contracf�rr to nJj<e7 any <br />c s s it curred nr OIL Lmoms ojtrtbriux vartr baukinc rcle {lion,? P Lo im The floor amount will be is place to ensure <br />that the $28,500 of conversion costs estimated by the City are covered fit] ly, If the City incurs less than 530,000 of <br />analysis cIlarges im the first contract year, the remaining balance of conversion allowance will be curried over past the <br />first year until ,'±30.000 in charges is reached. <br />We would also like to clarify the term length of our pricing proposal that was originally offered. 6r ddhLej?qo (j;p <br />currtrucred rttr :eeirti, ihetrric r. o eyed i t our urn oma wif(r4might unettatnged JfirriuyJtou(Ate o w one -Ysur <br />rertewrd p fir »as•: This will lock in the proposed facing foi five years if the City chooses to extend the relationship after <br />the initial three Yeats, contract. <br />Along with tire adjustments in the offered conversion allowance. and the pricing contract length we would also like to <br />extend an increased Earnings Credit Rare. ( "F'Clt ") to the Chy. YY'e arigirtul7v turn ed nn R of D. 60% and we are <br />inereasirr Jl, t t ZE170 J.NAlorgan values the stable depositary balances that municipalities provide and we believe <br />that you should be comimisatcd for those balances. We hope that the higher EC.R ftelps to cover casts incurred as it <br />relates to converting to J.P.Morgsn along with the aforementioned conversion allowance. <br />Should you have questions regarding our "Best and Final" proposal response, please do not hesitate to contact us. We <br />are eager to begin a successful relationship with the City of Santa Ana. <br />Sincerely <br />1 <br />- <br />/fish <br />Amy Rutz <br />}tat Patel <br />%^'ice President, Relationship Manager <br />Vice Presidwil, Treasury Sales Manager <br />17 75 Von Korman Avenue, INinO, CA 92614 <br />Telephone. 94981.: x739 Fars:m9e: 949-833-4737 airy, a :C: 1pmrnaw.com <br />