Laserfiche WebLink
June 15. 2010 <br />Christine Duarte <br />Treasury Manager <br />20 Civic Center Plaza, M14 <br />Santa Ana. CA 92703 <br />Subject: Best and final Response to RIT No. 1M13 for Banking Services <br />Deco Ms. Duarte. <br />JPMcrrgan Chase Bunk ( "J,P. Mcrgim ") is pleased at have the opportunity to help the City of Santa Ana (the "City ") <br />achieve and maintain a world -class treasury and finance operation. We know meeting these financial management <br />objectives is criticol to your mission and to meeting eormitueu expectations for service excellence. This fetter <br />constitrdes ofir `l esy_ and Final" fie' rr g!q (1,re�RFP No. IO.Ol3 for 6rEnkiitg Servi nr the Calf Sair(�A na <br />You may have noticed in our pniposal that we auggcsted some new treasury services such as Remote Deposit (check <br />image deposit) as well as a purchasing card program. The City will he able to select and implement prgductx and <br />services from J.P. Morgan [hit( we know me impodant to you. We will Ise prouetive in listening to your needs and <br />finding the right answers. While these solutions ecin be essential fools for many of our clients. we rely on in- person <br />assessment work with your term to fully design the most appropriate banking platform for your futuro. In order ip <br />as.,vivt with the 'it L e,1 ntla Ana v tnmsit(Si>f_LQu/ 1'. b rIga —n "e!rt�Jfer a conversion a(lrnranee egaa!-,to_j„2 <br />months ofaenn;utt anal charges np (n �k- f5,0001vith a floor of $30 0000 loan;, Urn Ara! emt(rnc! rear Inn .ce( gory <br />ros-LS nrcurred irr thvlrroeess aJ roaring tour hnrskine+ rtlatrgi!g1lig �o iu,_:, The floor amount will be in place to ensue <br />that the .$38,500 of conversion costs estimated by the City are covered fully. If tho City incurs less than 530,000 of <br />analysis charges in the first contract ycur, the remaining balance of conversion allowance will be carried over past the <br />I irst year until 530,000 in charges is reached <br />We would also like to clarify the term tength of our pricing proposal drat was uriginally offered. At addiction to the <br />voRgarted Urraer rears thc!grjcing off ered in otv nrrirnnal will retndpltgc "need threnwhoul the two on }aar <br />renewal option.(._ 'Jlris will lock in the proposed pricing for five years if the City chooses to extend the relationship after <br />the initial three yc:us contract. <br />Along with the ndjusi rents in the offered conversion allowance and thee pricing contract length we would also like to <br />extend an increased Earnings Credit Rule ( "'F ;CR') to the City. }Ve ririSiL+L.(iv rtra+re Cd an li(.'R of l9,AO %,got it we are <br />rgas'ing tlra! to 0- 70r7o. 1,P.Motgan values the stable depository balances that municipalities provide and we believe <br />than you should be compensntnd for [hose balances. We hope that the. higher GC R helps to cover costs incurred as it <br />relates to converting to J.P_Morgan along with the aforementioned conversion allowance. <br />Should you have questions regarding our "Best and Mind" proposal response, please du not hesitate to contact us. We <br />are eager to begin a successful rckuionship with the City of Santa Ana. <br />S once( d} <br />Amy Rutz <br />Vice President, Rclatiotmhip Manager <br />Hanish Patel <br />Vice President. Tto;oiury Stiles Manager <br />17F-Ii Von XIT-11 Avenue, Irvin(, U 52614 <br />Telephane- 949833 17 39 Fa aye " ^: 949,833 -4737 any -n 7'�JpmchasO.eom <br />