RES 2016-20 Adopted RESOLUTION NO. 2016-20
DESIGNATING SOUTHERN BANK&TRUST AS THE FINANCIAL INSTITUTION
FOR THE CITY OF NORTH AUGUSTA, SOUTH CAROLINA
AND TSYS MERCHANT SOLUTIONS AS THE MERCHANT SERVICE PROVIDER FOR THE CITY
OF NORTH AUGUSTA, SOUTH CAROLINA
WHEREAS, during 2012, the Mayor appointed a Financial Institution Selection Committee
to review and recommend to City Council a financial institution to be designated as the City's financial
institution to provide banking and investment services; and
WHEREAS, the City selected Southern Bank & Trust to be designated as the City's
financial institution for a period of five years commencing January 1, 2012, and ending December 31, 2016;
and
WHEREAS, the City continues to receive excellent service from Southern Bank & Trust
with net monthly charges of $0. Southern Bank & Trust has agreed to continue to provide their services
indefinitely with net monthly charges of$0 based upon an agreed account reserve balance; and
WHEREAS, the City is currently provided merchant services through SunTrust Merchant
Services, which was selected based on the South Carolina State Contract 4400011556 and;
WHEREAS, the City has received merchant pricing analyses on City accounts from two
additional merchant service providers. Both merchant service providers are offering the City more favorable
discount rates and fees than the current provider; and
WHEREAS, TSYS Merchant Solutions, through their relationship with Southern Bank &
Trust,is offering the most favorable rates and fees for other provider services; and
WHEREAS, expenses/expenditures for merchant services are already included in the City's
operating budget in the appropriate funds; and
WHEREAS, it is in the City's best interest to continue to designate Southern Bank&Trust
as the financial institution for the City of North Augusta and select TSYS Merchant Solutions as the merchant
service provider for the City of North Augusta, until either party determines it best to dissolve the
relationship.
NOW THEREFORE, BE IT RESOLVED by the Mayor and City Council of the City of
North Augusta, South Carolina, in meeting duly assembled and by the authority thereof,that Southern Bank&
Trust be designated as the City's Financial Institution and TSYS Merchant Solutions be designated as the
City's Merchant Service Provider, and that the City Administrator and/or the City Finance Director be
authorized to sign all documents relating thereto.
DONE, RATIFIED AND ADOPTED BY THE MAYOR AND CITY COUNCIL OF THE
CITY OF NORTH AUGUSTA, SOUTH CAROLINA, ON THIS (7' DAY OF .t e
2016.
Lark W. Jones,Mayor
ATTEST:
L+t-L-43.
Donna B.Young,City Clerk