11055-20241126120021 Hattiesburg

The City of Hattiesburg, Mississippi, is soliciting sealed bids from financial institutions for municipal fund depository services through a competitive procurement process governed by Mississippi Code of 1972, Chapter 105, Article 3. This contract opportunity seeks qualified financial institutions to serve as municipal fund depositories for a two-year term, with specific requirements for institutional eligibility and security provisions. Sealed bids must be submitted to the City Clerk's Office by 10:00 A.M. on December 19, 2024, with bidding documents clearly marked as "BID: TWO (2) YEAR DEPOSITORIES OPENING 10:00 A.M. December 19, 2024" on the envelope. Participating financial institutions must be insured as required by state statute and must explicitly specify the types of securities they will provide to secure municipal funds. The procurement notice will be published three times: on November 21, November 28, and December 5, 2024, ensuring broad visibility and opportunity for potential bidders.

While specific set-aside designations are not explicitly detailed in the procurement documents, potential bidders must meet state-mandated insurance requirements and demonstrate financial stability to qualify for the municipal depository contract. The opportunity appears open to qualified financial institutions without obvious restrictions based on enterprise size or disadvantaged business status. No incumbent vendor information or existing technological infrastructure requirements are specified in the available documentation. The procurement does not outline a specific award value or budget range, suggesting that the financial terms will be negotiated based on the submitted bids and the institutions' proposed security arrangements. Interested financial institutions should carefully review the Mississippi statutory requirements and prepare comprehensive bid responses that demonstrate their ability to securely manage and safeguard municipal funds throughout the proposed two-year contract period.