HomeMy WebLinkAbout90-474 December 20, 1990 #90-474 RESOLUTION
(CARRIED LOST LAID OVER WITHDRAWN )
PURPOSE: BID FOR CASH MANAGEMENT SYSTEM
INITIATED BY: DEPARTMENT OF FINANCE
WHEREAS, the City of Oshkosh has heretofore advertised for bids for a Cash Management
System; said bids opened on December 17, 1990; and
WHEREAS, it appears that the lowest and most advantageous bid is that of:
VALLEY BANK OF OSHKOSH
P. O. Box 948
Oshkosh, WI 54902
NOW, THEREFORE, BE IT RESOLVED by the Common Council of the City of Oshkosh
that the bid is hereby accepted and the proper City officials are hereby authorized and directed
to enter into an appropriate agreement for said cash management system, all in accordance
with the bid of Valley Bank of Oshkosh.
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CITY OF OSHKOSH Res 90-474
CASH MANAGEMENT PROPOSALS
12/17/90
COMPENSATING INTEREST
BIDDER BALANCE RATE
Valley Bank $210,000 88% of Fed Funds up to $2,000,000
P. O. Box 948 Balance over$2,000,000 invested
Oshkosh, WI 54902 with Valley Trust in Repos.
Interest determined by market rate.
(1989/90 ave. of 92.12 of Fed Funds)
First Wisconsin - Oshkosh $300,000 60% of Fed Funds
111 North Main Street
Oshkosh, WI 54901
M & I Western State Bank $518,000 100% of Fed Funds. Bid does not comply
P. O. Box 2406 with specifications since no collateral
Oshkosh, WI 54903 is provided.
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