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F ~2 <br />L <br />0 1318 <br />EE COUNTY <br />Cornmitted Today for a Better Tomorrow <br />LEE COUNTY BOARD OF COMMISSIONERS <br />ITEM ABSTRACT ITEM NO. III. H. <br />_ Information <br />Meeting Date: January 5, 2009 Action Item <br />XX Consent Agenda <br />SUBJECT: Banking Services with First Citizens Bank <br />DEPARTMENT: Finance <br />CONTACT PERSON: Lisa G. Minter, Finance Director <br />. John Crumpton, County Manager <br />REQUEST: Approval of Extension of Banking Services Agreement with First <br />Citizens Bank <br />SUMMARY: The County normally reviews its banking services contract every <br />three years which would require us to solicit request for banking <br />services this spring, however, with the ongoing turmoil in the <br />financial industry, we would like to take advantage of an offer from <br />First Citizens to extend our contract with them for one more year. <br />The bank is willing to continue to provide us services in exchange <br />for a non-interest bearing CD in the amount of $206,000. We have <br />had positive experience with First Citizens over the last two and a <br />half years and feel it would be prudent to wait a year to solicit <br />proposals to determine the standings of the various banks in Lee <br />County. <br />BUDGET IMPACT: N/A <br />ATTACHMENT(S): Proposal from First Citizens <br />PUBLIC HEARING: No <br />PRIOR BOARD ACTION: N/A <br />RECOMMENDATION: Approve extension of banking services with First Citizens Bank as <br />presented <br />