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this change occurs. The use of this service will allow staff to further concentrate on <br /> customer service and is in keeping with the overall effort to increase the use of <br /> technology in Utility Billing. <br /> After reviewing the pricing structures and interviewing various cities, staff recommends <br /> Union Bank of California to provide remittance processing services. Union Bank priced <br /> their services very competitively compared to the Bank of America. Based on the <br /> volume of incoming mail provided by staff to Union Bank, the estimated monthly cost is <br /> $2,811 or $33,700 per year. In addition, staff contacted several cities currently <br /> contracting with Union Bank and all were highly satisfied with the lockbox service. <br /> Union Bank currently provides this service for the University of California, the County of <br /> Tulare, a number of water districts, and nine other cities including the City of Livermore. <br /> The City will continue to utilize Bank of America for all other banking services. <br /> bmitted by: Approv by: <br /> David P. Culver Nelson Fialho <br /> Director of Finance City Manager <br /> Attachments: <br /> 1. Resolution <br /> 2. Professional Services Agreement <br /> Page 3 of 3 <br />