Summary of Specifications:
The Arapahoe Library District (ALD) is seeking competitive proposals from qualified banking institutions to provide services for our operations located in Arapahoe County. Through this Request for Proposal, Arapahoe Library District anticipates establishing a contract relationship with one Bank, which will act as the primary depository for the Library District and provide to the Library District full service banking capabilities.
In general, it is our intent to establish and operate a system of banking practices which will provide for: (1) the immediate, secure deposit and transfer of funds into service accounts; (2) the availability of funds for investment purposes and to meet obligations of the Library District; (3) the accurate and satisfactory collateralization of all funds; (4) the immediate and adequate accounting for all funds; and (5) the compliance with all applicable laws, rules, and regulations of federal, state, and local governing entities.
The contract will begin upon implementation of our new accounting software system expected to go live in July 2012. The term of the contract will be for one year with the option to renew for four (4) one-year renewal periods, making the total potential contract for five (5) years.
