Notice Of Award Of Procurement Authorization – Bi-Metal Token Supply From Osborne Coinage Company
Meeting Date: June 18, 2008
Subject: Notice Of Award Of Procurement Authorization - Bi-Metal Token Supply From Osborne Coinage Company
It is recommended that the Commission receive the notice of award of the Chair, Vice-Chair and the Chief General Manager to issue a contract to Osborne Coinage Company in the total upset limit of $2,000,000 USD including taxes, for the supply of 20,000,000 bi-metal tokens to replace the adult ticket. This purchase is a single source contract as the vendor is the only mint authorized to manufacture the proprietary bi-metal token.
The purchase of 20 million bi-metal tokens will result in an unbudgeted capital expenditure of approximately $2,000,000 in 2008.
Additional bi-metal tokens are required to replace adult tickets that are being eliminated due to a significant counterfeit problem. This purchase is a single source from the current supplier as they are the only known approved source for this proprietary-based technology. The bi-metal token would eliminate the current counterfeit problem with the existing adult ticket as it is significantly more difficult to counterfeit.
June 18, 2008