Title
Resolution authorizing an agreement with JPMorgan Chase Bank, Columbus, Ohio, for a procurement card program for Lake County, Illinois, for a two-year period, with three one-year renewal options.
Staff Summary
* Lake County's existing procurement card services contract with JPMorgan Chase Bank expires on August 31, 2025.
* Purchasing identified a cooperative contract through the City of Fort Worth, Texas, with JPMorgan Chase Bank that provides a commercial credit card program.
* The City of Fort Worth, Texas, contract with JPMorgan Chase Bank expires July 30, 2027.
* In accordance with ?33.115 of the Lake County Purchasing Ordinance, Lake County may participate in a cooperative purchasing agreement for the procurement of goods and services in accordance with an agreement entered between the participants.
* Lake County earns revenue through the JPMorgan Chase Bank's rebate program
* The current rebate is shared between Lake County and Lake County Forest Preserve and is approximately $100,000 a year, calculated from each agency's total annual spend; by transitioning to the cooperative agreement, this amount is expected to grow, assuming spending levels remain consistent or increase.
Body
RESOLUTION
WHEREAS, Lake County's existing procurement card services contract expires on August 31, 2025; and
WHEREAS, Purchasing identified a cooperative contract through the City of Fort Worth, Texas, with JPMorgan Chase Bank that provides a commercial credit card program; and
WHEREAS, the City of Fort Worth, Texas, contract with JPMorgan Chase Bank expires July 30, 2027; and
WHEREAS, in accordance with ?33.115 of the Lake County Purchasing Ordinance, Lake County may participate in a cooperative purchasing agreement for the procurement of goods and services in accordance with an agreement entered between the participants.
NOW, THEREFORE BE IT RESOLVED, by this County Board of Lake County, Illinois, that the Purchasing Agent is authorized and directed to execute on...
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