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Motion by Councilmember Elvig, seconded by Councilmember Cook, to direct that staff not <br />proceed with the bid alternate for Kasota Stone. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Elvig, Cook, Jeffrey, Olson, <br />l'earson, and Strommen. Voting No: None. <br /> <br />Case #8: Report from Finance Committee <br /> <br />Award Contract for Banking Services <br /> <br />Finance Officer Lund reviewed that on Tuesday, September 13, 2005, the City Council <br />authorized staff to solicit proposals for banking services by distributing the "Request for <br />Proposal - Banking Services" to the three local banking institutions - Landmark Community <br />Bank, Village Bank and Bank of the West. Each of the banks provided the City with a proposal <br />~'br banking services. The proposals for banking services were received and opened on Monday, <br />October 3, 2005. The proposals were then reviewed and the information contained in them was <br />analyzed using banking industry ratio trends, an evaluation matrix, and the summary of,services <br />charges. The matrix takes into consideration industry trends as well as "non-statistical" trends. <br />She advised based on the matrix Village Bank exceeded the other two banks in the two areas that <br />are very important to the City, which are interest rates and service fees. <br /> <br />irjnancc Officer Lund advised award of this contract for banking services does not eliminate <br />Landmark Community Bank or Bank of the West from financial activities with the City. The <br />City will continue to purchase investments from either institution, 'such as certificates of <br />deposits, opening a money market savings account, etc. The City is negotiating a one year <br />agreement. At year ending 2006, and each year thereafter, the services of the City's banking <br />institution will be examined and a recommendation will be made as to whether to continue with <br />said bank for the following year. A resolution will be recorded in January stating said bank as <br />the financial institution that will provide the City of Ramsey its banking Services for the year. <br />She advised staff recommends that the award for banking services be made-to Village Bank for <br />:services to begin as of November 1, 2005. <br /> <br />Mot/on by Councilmember Strommen, seconded by Councilmember Olson, to ratify the <br />;ecommendation of the Finance Committee and to adopt Resolution #05-10-346 Awarding <br />Banking Services to Village Bank. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Strommen, Olson, Cook, Etvig, <br />Jeffrey, and Pearson. Voting No: None. <br /> <br />Case #9: Report from Public Works <br /> <br />1) Consider Request to Establish a Bicycle/Pedestrian Lane on Waco Street <br /> <br />Assistant Public Works Director Olson stated staff received a request from a resident on Waco <br />Street asking that the City consider the establishment of a marked pedestrian/bicycle traiI along <br />one side of Waco Street south of Sunwood Drive, presumably ending at Rivers Bend Park. The <br /> <br />City Council / October 11, 2005 <br /> Page 11 of 17 <br /> <br />P37 <br /> <br /> <br />