The City of Taylor (hereinafter called “City”), is seeking bids from eligible financial institutions (hereinafter called “Bank”), to be the depository bank for the City. The term of the agreement is April 1, 2021 through December 31, 2025.
Through this contract the City intends to minimize banking costs, improve operational efficiency and information flow, and maximize its investment capabilities. The banking services provided should allow the City to conduct business operations effectively and economically. This Request for Proposal (RFP) represents the City's cash management goals, specifies all required qualifications, the banking services required, the estimated activity volumes on all accounts, the method and terms of compensation, submission instructions and contract award provisions. All qualified institutions, as defined below, are invited to submit a proposal.
Institutions responding to this Request for Proposal (RFP) must be insured through the Federal Deposit Insurance Corporation (FDIC) or National Credit Union Administration (NCUA) and must be able to demonstrate a capacity to meet the City’s requirements as stated in the RFP.
