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taking the time to contact the City about what they could do better to serve the needs of the City <br />of Ramsey. Landmark took a less aggressive approach to retaining the City's banking services, <br />even though they currently hold the funds of the City. They submitted the same proposal as <br />1997, with the exception of a consolidated financial report. The wording still stated that a <br />"1997" report was included (1997 nor 1998 were included with the proposal for services. 1998 <br />was received after requested). <br /> <br />Award of this contract for banking services does not eliminate Landmark Community Bank from <br />financial activities of the City. The City will continue to purchase investments from their <br />institution such as certificates of deposits, opening a money market savings account, etc. The <br />City is negotiating a one year agreement. At year ending 1999, and each year thereafter, the <br />services of the City's banking institution will be examined and a recommendation will be made <br />as to whether to continue with said bank for the following year. A resolution will be recorded in <br />January stating said bank as the financial institution that will provide the City of Ramsey its <br />banking services for the year. <br /> <br />Staff Recommendation: <br /> <br />Staff recommends that the award for banking services be made to Northland Security Bank for <br />services to begin as of January 1, 1999. <br /> <br />Council Action: <br /> <br />Motion to adopt attached Resolution #98-11-XXX Awarding Banking Services to Northland <br />Security Bank. <br /> <br />Reviewed By; <br /> <br />City Administrator <br />Finance Officer <br /> <br />CC: 11/10/98 <br /> <br /> <br />