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April 19, 2004 Page 426
<br />
<br />ATTEST:
<br />/s/ Frankie F. Bonds
<br />
<br />Frankie F. Bonds, Clerk to the Board
<br />
<br />/s/ Robert M. Freeman
<br />
<br />Robert M. Freeman, Chairman
<br />
<br />(G-5) Bank Bid Award
<br />
<br /> Pam Dubois, Deputy County Manager, reported seven banks within a 10-
<br />mile radius responded to a request for proposals for banking services. She
<br />said three methods of evaluation were used: minimum monthly service charge,
<br />average daily collected balance, and non-interest bearing certificate of
<br />deposit. The County selected the average daily collected balance method and
<br />chose Bank of America. Although Bank of America made a clerical error on its
<br />proposal regarding the amount of the average daily collected balance, Ms.
<br />Dubois reported that a representative of the Bank has agreed to honor the
<br />bid. The bank bid responses, cost and service factors, were as follows:
<br />
<br /> Banks
<br />
<br />Bank of America
<br />Cabarrus Bank & Trust
<br />Central Carolina Bank
<br />First Charter
<br />First Citizens
<br />SouthTrust Bank
<br />Wachovia
<br />
<br />Minimum Monthly
<br />Service Charge
<br />
<br />$3,425.00
<br />$2,354.00
<br />$2,828.00
<br />$2,691.00
<br />$2,470.00
<br />$2,280.00
<br />$7,820.00
<br />
<br />Average Daily
<br />Collected
<br />Balance
<br />
<br /> $203,984.00
<br /> N/A
<br />
<br />$1,275,000.00
<br />$2,450,000.00
<br />$3,751,860.00
<br />$4,553,609.00
<br />$12,149,979.00
<br />
<br /> Non-Interest
<br /> Bearing
<br />Cert. of Deposit
<br />
<br /> $4,110,000.00
<br /> N/A
<br /> $1,018,000.00
<br /> $2,200,000.00
<br /> $1,743,000.00
<br /> N/A
<br /> $6,900,000.00
<br />
<br /> UPON MOTION of Commissioner Carruth, seconded by Commissioner Privette
<br />and unanimously carried, the Board awarded the Cash Management Services
<br />Contract to Bank of America for a two-year period effective July 1, 2004 and
<br />authorized the County Manager to execute the contract on the County's behalf.
<br />
<br />(G-6) Waiver Rec~uest of Occupancy Tax Penalties ($943.50) for Holiday Inn
<br />Express
<br />
<br /> Ms. Dubois reported the management of the Holiday Inn Express requested
<br />a waiver of the late payment penalties for the hotel/motel taxes. The
<br />penalties exceed the $400.00 limit for which the Finance Director may issue a
<br />waiver. County practice has been to forgive the penalties the first time the
<br />occupancy tax report is filed late. However, the Holiday Inn Express was
<br />granted a waiver on October 24, 2001 for the period ending September 30,
<br />2001.
<br />
<br /> UPON MOTION of Commissioner Privette, seconded by Commissioner
<br />Carpenter and unanimously carried, the Board voted to deny the request by
<br />Holiday Inn Express for a waiver of penalties ($943.50) for failure to pay
<br />the occupancy tax in a timely manner.
<br />
<br />(~-7) Waivers of Occupancy Tax Penalties
<br />
<br /> Ms. Dubois reported that several hotels have requested waivers of the
<br />occupancy tax penalty in the past few months. The Finance Director/Deputy
<br />County Manager is authorized to waive the first offense for late filing and
<br />payment of delinquency occupancy tax up to $400.00. In an effort to reduce
<br />the number of requests coming before the Board, staff is proposing that the
<br />Board authorize the Finance Director/Deputy County Manager to waive penalties
<br />resulting from the first offense, up to $1,000.00, and to limit waivers to
<br />the first offense.
<br />
<br /> UPON MOTION of Commissioner Privette, seconded by Commissioner
<br />Carpenter and unanimously carried, the Board adopted the following motion:
<br />
<br />That the October 20, 1997 action of the Board of Commissioners be
<br />amended as follows: The County shall, for good cause shown,
<br />review requests by the affected taxpayer for waiver of late
<br />payment penalties for Hotel/Motel Occupancy taxes for the first
<br />late payment offense. The County Finance Director and Deputy
<br />County Manager shall have authority, for good cause shown, to
<br />compromise or forgive these late payment penalties up to a
<br />
<br />
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