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2 <br />4. Overdraft Protection <br />The financial institution shall provide the City with overdraft protection including daylight <br />overdrafts. The financial institution will honor all demands upon the City's account(s) including <br />outgoing wire instructions by the City. In the proposal, the financial institution shall state the cost <br />of providing the overdraft protection, including, if used, a benchmark on which the financial <br />institution will determine the interest to be charged on overdrafts, and current rates. <br />5. er equireServices <br />■ Provide positive pay service. <br />■ Provide statements to various auditors upon request. <br />■ Provide a consolidated monthly account analysis within 10 days after the close of the month's <br />activities. <br />■ The City will provide armored car pick-up of all daily deposits to be delivered to the financial <br />institution and deposited into the City's account(s). <br />E. Compensating Balance and Earnings Allowances <br />Collected Balances and Earnings Allowances: Describe your calculation of collected balances. Also <br />describe the effective rate, method used and formula proposed to calculate the service charge credit <br />or the earnings allowance on collected balances. <br />F. New Service Charge Factors/Prices <br />New service charge factors and their prices may be added or old factors deleted by mutual consent <br />during the period covered by the agreement. <br />