365-20251215141940 TUPELO.pdf
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- Attached to
- 365-20251215141940 Tupelo
- Solicitation number
- 3170034646
- Issued by
- Mississippi
About this file
This is a legal notice for a Request for Proposals issued by the City of Tupelo, Mississippi, seeking qualified financial institutions to serve as designated depositories for municipal funds. The City is accepting proposals for depository services with contract terms of twenty-four (24), thirty-six (36), or forty-eight (48) months beginning February 1, 2026. Sealed proposals must be submitted to Kim Hanna, City Clerk, at the City of Tupelo, Post Office Box 1485, 71 East Troy, Tupelo, MS 38804, or electronically through www.tupelomsbids.com, with a deadline of 10:00 a.m. on Friday, January 9, 2026. Proposals will be opened at that time. Financial institutions must be qualified under Mississippi Code Annotated Sections 27-105-315 and 27-105-353 at the beginning of the contract period and must requalify as required by law.
The City will consolidate all demand deposit accounts with a single banking institution, with interest calculated on an average daily balance. Additionally, the City may select one or more separate depositories for investments and savings accounts based on the highest annual interest rates offered. Each proposal must include interest rates for both short-term and long-term funds and service charges for transaction handling. Financial institutions designated as depositories must provide security and collateral equal to 105 percent of the maximum deposit amount at any time, exclusive of amounts covered by Federal Deposit Insurance Corporation coverage. Selection will be based on net earnings, account costs, transfer costs, banking services quality, compliance with state requirements, fund safety, and other factors relevant to the City's needs. The City reserves the right to reject any or all proposals and to adjust deposit amounts at its discretion. All questions should be directed to Kim Hanna at 662-841-6502 or kim.hanna@tupeloms.gov.
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Text version
Northeast Mississippi Daily Journal, P O Box 909, Tupelo MS 38802
Ad ID: 1708657
Description: #1708657 LEGAL NOTICE REQUEST FOR PR
Run Dates: 12/16/25 to 12/23/25
Class: 1401
Orig User: JSH
Words: 569
Lines: 116
Agate Lines: 111
Account: 3486
Name: TIFFANY MAY
Company: CITY OF TUPELO
Address: P.O BOX 1485
TUPELO, MS 38802
Telephone: (662) 841-6487
Notes:
Email address: Kim.Hanna@tupeloms.gov
Other Charges: $5.00
Discount: $0.00
Surcharge: $0.00
Credits: $0.00
Bill Depth: 11.069
Net Cost: $130.18
Paid Amount: - $0.00
Amount Due: $130.18
#1708657
LEGAL NOTICE
REQUEST FOR PROPOSALS
City of Tupelo Bank Depositories
2026-002BA
PLEASE TAKE NOTICE that the City of Tupelo, Mississippi (the “City”) will receive proposals from qualified financial institutions as defined by Miss Code Ann. (1972) §27-105-315 and §27-105-353 to serve as a designated depository for the City for a twenty-four (24), thirty-six (36) or forty-eight (48) month period beginning February 1, 2026. Financial institutions must be qualified at the beginning of said period and must requalify under the provisions of Miss. Code Ann. § 27-105-353 (1972, as amended).
Said proposals shall be com-pleted using the Bid Form attached hereto, and sealed and submitted to Kim Hanna, City Clerk, City of Tupelo, Post Office Box 1485, 1st Floor Tax Office, 71 East Troy, Tu-pelo, MS 38804, not later than 10:00 a.m., Friday, January 9, 2026, at which time such propos-als shall be opened. Proposals may also be submitted electronically at www.tupelomsbids.com. If you have any questions regarding elec-tronic bidding, you may direct them to Plan House at (662) 407- 0193.
In order to maximize efficiency and economy, the City of Tupelo will have all demand deposit ac-counts with one (1) banking insti-tution. Interest on the demand deposit will be on an average daily balance. The City of Tupelo may also elect one (1) or more deposi-tories for the placement of funds for investments and savings.
These investment depositories will be selected on a competitive basis as determined by the highest an-nual interest rate. All other City funds will be invested by solicita-tion on a competitive basis from all qualified depositories approved by the City of Tupelo.
Each proposal shall contain in-terest rates to be paid on both short term and long-term funds held by the institution as well as the service charge for transactions handled by the institution for the City. Each financial institution des-ignated as a depository shall des-ignate the security and collateral authorized by law as specified in Miss Code Ann. Sections §27-105- 5 and §27-105-315 for securing the funds in an amount equal to 105% of the maximum sum on de-posit at any one time exclusive of that portion of said deposit ac-count insured by Federal Deposit Insurance Corporation. In the event that the City designates more than one depository, each fi-nancial institution designated as a depository shall provide security and collateral in an amount equal f h to 105% of the maximum sum ac-tually on deposit at that financial institution. Each financial institu-tion designated as a depository shall enter into a depository agree-ment with the City.
The City of Tupelo shall use the following factors in selecting its de-positories: net earnings of each account, account costs, costs of transfer of accounts from existing depositories, banking services pro-vided, and having met the require-ments provided in Section 27-105-315, having in view the safety of such funds, and other such relevant factors necessary to serve the needs and interests of the City of Tupelo.
The City reserves the right to re-ject any and all proposals. The City reserves the right to reduce, in-crease or vary the amount of mu-nicipal funds on deposit in its discretion. The City of Tupelo is an equal opportunity employer.
Any questions concerning the proposal should be directed to Kim Hanna, City Hall, 2nd Floor Finance Department, 71 East Troy Street, Tupelo, MS 38804; telephone 662- 841-6502 or email kim.hanna@ tupeloms.gov.
Dated, this the 4th day of De-cember, 2025.
/s/ KIM HANNA City Clerk December 16, 23, 2025.
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