7999-20240703082953 GAUTIER FINANCIAL.doc

City of Gautier Invitation for Bids

(SPECIFICATIONS)

Notice is hereby given to all financial institutions in the City limits and surrounding areas of Gautier, Mississippi, whose accounts are insured by Federal Deposit Insurance Corporation of the Federal Savings & Loan Insurance Corporation that the City of Gautier will be accepting sealed bids for the privilege of keeping City funds, for the period of September 2024 – September 2028 pursuant to section 27-105-305, 27-105-363, and all other related sections of the Mississippi Code, 1972 Annotated, as amended.

Please address submissions: City of Gautier Purchasing Department, Attention Leoqueita Reddix, 3330 Hwy 90, Gautier, MS 39553, and plainly mark on the front of the envelope “Bid City Depository.” Proposals may be delivered in person to the Purchasing Department located at 3330 Hwy 90, Gautier, MS. Any proposal sent through the US Mail is done so at the risk of the bank submitting said proposal.

The City reserves the right to reject any and all bids.

The intent of the City Council is to select a banking institution that is able to provide all services required to serve as a City Depository / Depositories. The City will continue to solicit investment opportunities from all banks represented in the City area. Each bank is directed to Sections 27-105-303, 27-105-305, & 27-105-6, Mississippi Code of 1972 Annotated.

The bid proposal shall include the following, with responses indicating the number responding to:

1. Kind of security, as authorized by law, that the bank proposes to give as security for the funds

2. Provide guaranteed minimum interest rate on the NOW and SUPER NOW accounts at 100% of balances (indicating possible rate increase when applicable)

3. Safe deposit box fee (10 X 10 minimum)

4. Minimum balance fee and amount of minimum required if any

5. Demand deposit account fee

6. NOW account fee

7. Money market deposit account fee

8. Stop payment fee

9. Money order processing fee

10. Direct deposit processing fee for payroll and bank’s procedure for this service

11. Bank draft fee for processing citizen payments and bank’s procedure for this service

12. Acknowledgement that at the beginning of every month a statement will be provided to the City in duplicate showing the daily balances of the City money held during the month next proceeding

13. Designate in your bid if the bank is willing to distribute funds on a daily basis so that all deposits and withdrawals can be made by the City through one bank, in the event the City selects more than one bank as a depository – (indicate if there is a fee)

14. Indicate, if chosen as lead bank, whether your bank will handle opening accounts with other banks

15. Indicate maximum and minimum balance, at any one time, that the City can place on deposit with your financial institution

16. Provide certificate from State Treasurer designating your institution has qualified as an insured by the Federal Deposit Insurance Corporation or any successors to that insurance corporation, may qualify as a depository if the institution qualifies as a public funds depository under Section 27-105-5, or a public fund guaranty pool member under Sections 27-105-5 and 27-105-6.

17. Provide electronic banking services on line such as daily/monthly activity statements, view checks that have been paid, view deposits made, issue stop payments, wire transfers, etc. and any fee associated for such services

18. Interest paid on all funds combined on a daily basis.

19. Provide a complete fee / charge schedule.

20. Rates of interest to be paid on checking accounts. If the rate is subject to change as market conditions fluctuate, please give the proposed rate.

21. Cancelled checks are required to be provided in bank statements and if any fee is charged for service.

22. Any charges for bank statements reflecting activity through the last working day of each month.

23. The ability to accept credit cards for payment of fees & services.

The City must comply with all laws in providing this service. In particular, the City must receive payment in full and may NOT be assessed any fees or charges of any kind. Please indicate how the service will be accommodated for acceptance of credit cards.

24. The ability to accept debit cards for payments of fees and services.

The City must comply with all laws in providing this service. In particular, the City must receive payment in full and may NOT be assessed any fees or charges of any kind. Please indicate how the service will be accommodated for acceptance of debit cards.

25. The ability to accept on line payments from our website for payments for fees and services. In particular, the City must receive payment in full and may NOT be assessed any fees or charges of any kind. Please indicate how the services will be accommodated for acceptance of on-line payments.

26. Please provide a copy of the bank’s current depository commission certificate.

27. Please provide information, fees or other information concerning other services your bank provides that may be an advantage to the City.

Note:

· The depository designation will be for a period of four (4) years.

· Submission of bid shall also allow your institution to be considered for the City to purchase certificates of deposit. You may submit bid for this purpose only if you so choose.