RFP 2024-007-STATE RECIPROCAL REQUIREMENT (PDF)

Agency:	City of Palestine
State:	Texas
Type of Government:	State & Local
Category:	R - Professional, Administrative and Management Support Services
Posted:	Apr 11, 2024
Due:	Apr 29, 2024
Publication URL:	To access bid details, please log in.

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This notice is published in the Palestine Herald Press on Saturday, April 13, 2024, and Saturday,

April 20, 2024.

CITY OF PALESTINE

REQUEST FOR PROPOSALS (RFP)

RFP 2024-007 – BANK DEPOSITORY SERVICES

Sealed Proposals Due Date: April 29, 2024

The City of Palestine is requesting applications in the form of proposals from eligible and qualified

financial institutions for bank depository services. The services being requested under this RFP

include full-service basic banking services, including but not limited to receiving deposits, wire

transfers (in and out), and stop payments.

The following schedule shall govern your proposal:

Monday, April 15, 2024, at 5:00 p.m., Central Standard Time (CST)

Deadline for inquiries, questions, or requests for information regarding this request for proposals.

All questions and correspondence should be directed to Andrew Sibai, Finance Director, at

asibai@palestine-tx.org.

Monday, April 29, 2024, at 1:00 p.m., Central Standard Time (CST)

Sealed proposals are due in the City Secretary’s Office. The date and time received shall be noted

on the envelope or box and initialed. Proposals cannot be altered or amended after the submission

deadline. Any interlineations, alterations, or erasures made before the proposal opening must be

initialed by the signor of the proposal, guaranteeing authenticity. Proposals received after the

published deadline shall remain unopened and be returned.

Monday, April 29, 2024, at 1:30 p.m., Central Standard Time (CST)

Sealed proposals will be opened and publicly read aloud in the City Hall Conference Room at

504 N. Queen Street, Palestine, Texas. Unmarked proposals received shall be opened for

identification purposes only and resealed. The envelope or box shall be marked accordingly.

Your proposal must meet the qualifications and satisfy the requirements outlined in this RFP to be

considered for this engagement.

Mailing Address and Hand Delivery Address:

City of Palestine

Attn: April Jackson, City Secretary

504 N. Queen Street

Palestine, TX 75801

City of Palestine

RFP BANK Depository 03-25-2024 (002)

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Please include proposed fees for all three (3) years in your proposal: a clear price proposal for the

first three years and proposed pricing for additional extensions.

One original proposal and two copies should be returned in a sealed envelope bearing the

respondent's name and address and “RFP 2024-007 – BANK DEPOSITORY SERVICES.”

City of Palestine

RFP BANK Depository 03-25-2024 (002)

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CITY OF PALESTINE

REQUEST FOR PROPOSALS

RFP 2024-007 – DEPOSITORY BANK SERVICES

Table of Contents

Introductory Information ...........................................................................................................4

Calendar / Timeline....................................................................................................................4

Criteria for Evaluation ...............................................................................................................5

Existing City Account Information............................................................................................5

Required Services ......................................................................................................................6

Submission Checklist...............................................................................................................10

Standard Terms and Conditions...............................................................................................12

Conflict of Interest Questionnaire............................................................................................17

City of Palestine

RFP BANK Depository 03-25-2024 (002)

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CITY OF PALESTINE

REQUEST FOR PROPOSALS

RFP 2024-007 – DEPOSITORY AND BANKING SERVICES

I. INTRODUCTION

City Description. The City of Palestine is a political subdivision of the State of Texas (State),

established in 1846. The County Seat and the largest city in Anderson County, Palestine, provides

a full range of municipal services, including general government, economic development,

cemetery, public safety (police and fire), parks and recreation, streets, community development,

planning and zoning, code enforcement, public library, and municipal services such as water

treatment, wastewater and engineering. The corporate limits of the city encompass approximately

19.5 square miles with a 1-mile extraterritorial jurisdiction. The U.S. Census Bureau 2019

estimated population was 17,730. The city operates as a Home Rule City under a Council-Manager

form of government. The City Council comprises the Mayor and six Council Members. The City

Manager is the chief executive officer of the City of Palestine.

City Departmental Organization. The City of Palestine provides all municipal services within

city limits with the following structure:

• General Fund - City Manager, City Secretary, Legal, Human Resources, Finance, Municipal Court,

Information Systems, Police, Fire, Emergency Management, Public Works, Street Maintenance,

Fleet Maintenance, Airport, Parks, Cemetery, Library, and Development Services

• Enterprise Funds - Water / Wastewater / Utility Billing, Sanitation / Solid Waste

• Palestine Economic Development Corporation - Economic Development / Marketing, Main Street

Finance Operations. Finance is comprised of Accounting and Utility Billing.

• Accounts Payable generates approximately 350-400 checks per month. Check registers are posted

on the City website's transparency page.

• Payroll generates approximately 200 paychecks per bi-weekly pay period, most of which are auto-

deposit.

• Utility Billing generates approximately 6,500 residential utility bills each month.

The City’s primary banking relationship is currently maintained at Prosperity Bank. Given the

ongoing changes occurring within the banking industry and evolving technologies, it is the City’s

practice to review and evaluate its banking services periodically. The City wishes to create

efficiencies, make improvements where possible, and take advantage of new, applicable

technologies. It is the City’s intent to maintain all commercial banking services with one financial

institution to maximize cash flow and minimize administrative costs. Depository Bank Services

Proposals must include services for the entire scope of the relationship outlined.

A. REQUEST FOR PROPOSAL

The City of Palestine is requesting applications in the form of proposals from eligible and qualified

financial institutions for depository and banking services. Depository and banking services being

requested under this RFP include full-service basic banking services, including but not limited to

receiving deposits, wire transfers (in and out), and stop payments. This agreement will not cover

City of Palestine

RFP BANK Depository 03-25-2024 (002)

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any investment transaction activities other than safekeeping services, including receiving and

delivering securities, coupon collections, and maturity collections. The City plans to manage its

own investment portfolio.

The City will endeavor to administer the proposal process according to the terms and dates outlined

in this RFP. However, the City reserves the right to modify the activities, timeline, or any other

aspect of the process. By requesting proposals, the City is in no way obligated to award a contract

or pay the expenses of the proposing banks in connection with preparing or submitting a proposal.

B. MINIMUM QUALIFICATIONS

To ensure a close working relationship to facilitate available services (e.g., daily deposits and

change orders), the City will consider banks with full-service capabilities within the City limits.

Any required statement regarding equal opportunity and affirmative action should be included if

required/desired. The proposal submitted will become part of the final contract.

C. TERM OF CONTRACT

The contract period will be three (3) years with one (1) three-year extension option, beginning

May 21, 2024, and ending May 21, 2027. The depository contract shall provide that the City

reserves the right to cancel any agreement, at any time, upon sixty (60) days prior written notice

of its intent to terminate any agreement.

D. OBJECTIVES OF THE PROPOSAL

At the outset, the City wishes to communicate the primary objectives of the depository RFP, an

important component of the overall treasury program of the City of Palestine:

The objective of the request for depository bank services is to solicit comparable market charges

for services to be provided and to pay for all services provided by the bank. The City desires to

enter into a contract that will minimize the City’s costs and provide mutual benefit for the City and

the bank.

This Request for Proposal, “RFP,” is intended to serve as the bid form for the depository

agreement. Several questions have been requested to be answered. The resulting depository

contract is expected to contain a scope of work agreeing to RFP responses. To be considered for

evaluation, the bidder should incorporate all points outlined and requested materials into their

reply. Attachments will be appropriate to answer some of the questions.

II. CALENDAR OF EVENTS

Target Date Description of Events

City distributes the RFP document to local banks.

April 15, 2024 The deadline for questions regarding this RFP. Responses to all material questions

City of Palestine

RFP BANK Depository 03-25-2024 (002)

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RFP 2024-007-STATE RECIPROCAL REQUIREMENT (PDF)

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