TO: Mayor and Commissioners
FROM: Hugh B. Dunkley, Finance Department
THROUGH: Terrence R. Moore, ICMA-CM
DATE: June 6, 2023
Title
APPROVAL OF RESOLUTION NO. 87-23 AND TO APPROVE AN AMENDMENT TO MASTERS SERVICES AGREEMENT RE: PARTICIPANTS WITH BANK OF AMERICA, N.A. FOR EPAYMENT SOLUTIONS AND SERVICES UTILIZING EXISTING CONTRACT WITH ORLANDO-ORANGE COUNTY EXPRESSWAY AUTHORITY.
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Recommended Action:
Recommendation
Motion to approve Resolution No. 87-23 and amend the Master Services Agreement (MSA)Re: Participants with Bank of America approving the agreement with Bank of America and Central Florida Expressway Authority for commercial ePayment Solutions and services utilizing the existing contract with Orlando-Orange County Expressway Authority entered into pursuant to Request for Proposal No. 000900 and authorizing the City Manager to approve renewal options.
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Background:
In 2013, the City entered into an Agreement with Bank of America for EPayment solutions and services (referred to as the "Participation Agreement"). The City's Participation Agreement remained in effect for the term of the Master Contract unless terminated earlier by either party utilizing the State of Florida's Agreement with Bank of America for Merchant Services (referred to as the "Master Contract").
On August, 16, 2022, the City approved an addendum to the Participation Agreement with Bank of America to add eCommerce Payment Services.
This year, the State of Florida did not renew their agreement with the Bank of America which expires on June 11, 2023.
The City requires these services, ePayments solutions (electronic or digital way of transferring funds which allow the City to accept citywide ACH payments) and eCommerce Payments services (ability to accept online payments). Finance requests the approval of the Amendment to the Bank of America MSA Re: Participations utilizing Bank Merchant Services, LLC, Central Florida Expressway Authority.
The...
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