Depository and Banking Services

Solicitation ID:

2024-2025-001

Status:

Posted

Contact Name:

Natalia Witmer

Contact Number:

(210) 655-0022

Contact Email:

nwitmer@windcrest-tx.gov

Response Due Date:

1/9/2025

Response Due Time:

2:00 PM

Agency/Texas SmartBuy Member Number:

M0157

Posting Requirement:

21+ Days for Solicitation Notice

Solicitation Posting Date:

12/9/2024

Last Modified:

12/9/2024 2:19 pm

Attachment URL: https://www.windcrest-tx.gov/400/Bid-Openings-RFQs-RFPs

Class/Item Code:

94625-Banking Services;

TheCity of Windcrest, Texas ("City") invites bankinginstitutions to submit applications or proposals to provide depository andvarious banking services to the City according to the requirements of thisRequest for Proposals for Depository and Banking Services ("Request"). It is the intention of the City that thedepository contract will be for a five-year period commencing on March 1, 2025and extending through February 28, 2030.

The City'sgoal is to select one or more banks ("Bank") that offer(s) the mostfavorable package of terms and conditions for the handling of municipalfunds. Toward this goal, bankinginstitutions which respond to this request may make such proposals, presentsuch additional banking services, and offer such investment policies as thebanking institution chooses.

If the City develops a need foradditional accounts or services during the life of the depository agreement,those new accounts or services should be provided within the framework thatapplies to existing accounts. Also, iffederal or state laws or regulations, the Federal Reserve Board, or otherregulatory body rule or regulation permits or provides for the establishment ofnew accounts or other services which are favorable to the City, the Bank isexpected to make those services available.

Purchases of certificates of depositand other time deposits and investments, and the selection of accounts, will bemade at the direction of the City. It isexpected that the City will maximize the City's earnings. The City reserves the right to deposit itsfunds under its control with other institutions as authorized by the PublicFunds Investment Act, Texas Government Code, Chapter 2256, as amended, Chapter105, Section 105.072, of the Texas Local Government Code, as amended, orArticle 2529b-1, Texas Revised Civil Statutes, as amended. The City's funds held by the Bank in excessof that amount insured by the Federal Deposit Insurance Corporation must besecured by (1) posting of one or more surety bonds if approved by the City,payable to and filed with the City, and issued by one or more solventsurety(ies) company(nies) authorized to do business in Texas, or (2) ifapproved by the City as to kind and value, by pledge of obligations of the UnitedStates of America to be held at the Federal Reserve Bank of San Antonio, orsuch other bank as may be approved by City (Safekeeping Bank), with suchapproved securities to have as market value at least equal to the total amountof City funds on deposit in excess of the Federal Deposit Insurance Corporationinsurance coverage, with the City to approve of any substitution and release ofsecurities and to approve of the form of safekeeping agreement for suchpledge. The Bank shall furnish a list ofpledged securities to the City at the end of each month.

The criteria that will be used tomake the selection includes, but is not limited to, the following, and notnecessarily in the order listed:

(a) Cost of services.

(b) Collateralization available and degreeof risk associated with collateral pledged.

(c) Convenience and location of the Bank.

(d) Financial strength of the Bank.

(e) Experience providing a depositoryservice to similar entities.

(f) Organization, facilities, equipment andpersonnel to insure prompt and efficient services.

(g) Rates offered on accounts andinvestments.

(h) Any additional services offered.

The City reserves the right toreject any and all applications, to waive any irregularities, and to accept anyapplication deemed to be in the City's best interest.

The successful bank will be requiredto execute a depository contract incorporating the terms of this Request andthe bank's proposal. A copy of theproposed depository contract is attached hereto and made a part hereof.

The City presently maintains eighteen(18) accounts as follows:

(1) GeneralFund Operating Checking Account;

(2) GeneralFund Operating Savings Account;

(3) GeneralFund Development Escrow Account;

(4) GarbageFund Checking Account;

(5) GarbageFund Savings Account;

(6) AssetForfeiture/Seizure Fund - Federal;

(7) SchoolCrossing Guard Fund;

(8) PoliceDonation Fund;

(9) AssetForfeiture/Seizure Fund - State;

(10) PoliceEducation & Training Fund;

(11) Economic Development Corp Fund;

(12) Municipal Court Technology Fund;

(13) Municipal Court Bldg. Security Fund;

(14) Hotel/Motel Tax Fund;

(15) Debt Service

(16) WindcrestCrime Control & Prevention District Fund

(17) CapitalProject Streets Fund

(18) 2019Series A

A summary of the usage of suchaccounts is described in the attached Exhibit A. (Available upon request)

The proposal should state whatrestrictions, if any, would apply to the Bank's accounts, what any minimumbalance requirements would be, what the formula for interest computation wouldbe and any other information necessary to analyze your proposal. Your proposal should include what investmentswill be available to the City, what the terms of such investment are and howinterest will be computed on such investments. Your proposal should include the availability of loans to the City, ifneeded, what the interest rate will be, what the maximum amount of loans willbe and the terms thereof. Your proposalshould include the charges, if any, for maintaining the City's checking andsavings accounts, the cost, if any, of providing checks and deposit slipsrequired by the City and an assurance that monthly statements will be providedfor each account showing all checks, debits, credits, to be provided withinfive (5) working days after the 27th of each calendar month.

The City's Investment Policy isprovided in the attached Exhibit B. Awritten instrument shall accompany the proposal acknowledging the review andunderstanding of the City's investment policy.

The City reserves the right torenegotiate such additions, deletions or changes as it deems necessary duringthe term of the depository contract. Thedepository contract shall provide that the City reserves the right to cancelthe same at any time upon ninety (90) days written notice and at any time inthe event Bank breaches or violates the terms of the contract or other proposaldocuments.

Your proposal should include yourfour (4) most recent call reports and an explanation of your affiliation, ifany, with a holding company. Your proposal should also include any contractswhich you will request the City to sign as part of your banking relationshipwith the City. The City will expect you to sign its standard depositorycontract.

All questions or clarificationsconcerning this Request shall be submitted to the Finance Department, 8601Midcrown Dr., Windcrest, Texas78239, (210)-655-0022. Any variances from the specifications, terms,and conditions found herein must be indicated in your proposal; otherwise, theproposal will be interpreted as consistent with these specifications.