Summary of Specifications:
It is the intent of the County of Bexar to execute a contract with a financial institution desiring to be designated as the County Depository Bank for County funds and for Trust funds of the County and the District Clerk. The overall objectives of this Request for Proposal (“RFP”) are to: 1. Select a financial institution which offers efficient and effective services and product solutions that will support the County’s current and future banking needs. 2. Choose banks that employ advanced technology in their own processes and will help the County apply technology to improve its processes. 3. Establish optimal pricing for the bank services defined within this RFP. 4. Utilize banking services which will improve processing efficiency, effectiveness and enhance control. By submitting a proposal the financial institution acknowledges that it understands the Texas Local Government Code, Chapters 116 and 117 that pertains to the managing and safekeeping of County funds and that it will comply with those statutes. The County is accepting sealed proposals from qualified and experienced financial institutions (collectively, “Respondents”) that desire to contract banking services with the County in accordance with the terms, conditions, requirements and specifications set forth in this RFP. This RFP provides sufficient information to Respondent to prepare and submit a proposal for consideration by the County. The County currently maintains 34 bank accounts including 21 checking accounts, 4 registry/Trust accounts, and one lockbox account. The County would prefer, from an operational standpoint, to have only one financial institution perform all services sought in this RFP, however the County reserves the right to apportion the various services among two or more financial institutions if it would be in the County’s best interest. The County seeks a services agreement with a four-year term. Pursuant to the Local Government Code, the contract shall allow the financial institution selected to establish, on the basis of negotiations with the County, new interest rates and financial terms of the contract that will take effect during the final two years of the four-year contact if: a) the new financial terms do not increase the prices to the County by more than 10 percent; and 2) the County has the option to choose to use the initial variable interest rate option or to change to the new fixed or variable interest rate options proposed by the bank. It is expected that the range of services described in this proposal will be used for the length of the contract; however the County may discontinue any and all services after 60 days written notice to the depository bank. The financial institution(s) selected by the County in order to enter into an agreement must (a) be a state or national bank doing business in the State of Texas with the main or branch banking facilities located within the County, and (b) furnish adequate collateral, as set forth herein, to assure the safety of all the County funds. If the County does not receive proposals from banks located in Bexar County, the County may advertise for proposals from banks in an adjoining county or any other county in the state. By submitting a proposal, each Respondent certifies that it understands this RFP and has full knowledge of the scope, nature, quality, and quantity of work to be performed, the detailed requirements of the services to be provided, and the conditions under which the services are to be performed. Each Respondent also certifies that it understands that all costs relating to preparing and responding to this RFP will be the sole responsibility of the Respondent.
SEE ATTACH RFP FOR ADDITIONAL DETAILS
