Primary Depository Services
Closed State & local contract opportunity Posted
- Solicitation number
- RFA-2026-7-1
- State
- Texas
- Responses due
Opportunity facts
- Jurisdiction
- UNSPSC codes
- 84101602 Bi lateral or multi lateral aid
- 84121602 Letter of credit services
- 84121605 Currency conversion service
- 93151701 Currencies or coinage
- 93151608 Government or central bank services
- 64151500 Representative money or currency
- 84121603 Currency exchange services
- 84101603 Non governmental aid
- 84121604 Spot exchange transaction services
- 84121601 Funds clearance services
Show all 35
- 93151702 National bank notes
- 64150000 Monetary instruments or currency
- 84120000 Banking and investment
- 84111700 Corporate finance
- 84121600 Funds transfer and clearance and exchange services
- 84122000 Cash vault services
- 64151502 Commercial banknotes
- 64151504 Local currency
- 64151505 Digital currency
- 84101604 Government aid
- 84121501 Privately owned banks
- 84121502 Publicly owned banks
- 84121503 Credit unions
- 84121504 Development finance institutions
- 84122001 Deposit verification services
- 84000000 Financial and Insurance Services
- 84100000 Development finance
- 84121500 Banking institutions
- 93151700 Currency
- 64151503 Coins or coinage
- 64151501 National banknotes
- 84101601 Co financing
- 84121607 Operating lease finance service
- 84121606 Remittance processing services
- 93141901 Agricultural commercial banking services
- Point of contact
-
- Leila Cole lcole@waxahachietx.gov (469) 309-4165
Opportunity details come from procurement.opengov.com. Updated .
About this opportunity
The City of Waxahachie, Texas, is requesting electronic applications from qualified financial institutions to serve as the municipality's primary depository, with applications due August 7, 2026 at 10:00 a.m. through the OpenGov Procurement portal. Eligible applicants must be financial institutions with a main office or branch office operating within Waxahachie's municipal boundaries — a local-presence requirement that filters the bidder pool.
The selected institution will provide banking and depository services for an initial two-year term effective January 2027, with three optional one-year renewal periods, for a maximum five-year term under Texas Local Government Code Section 105.017. The City maintains average balances below $4 million with potential maximum ledger balances exceeding $6 million and requires collateral pledging in accordance with the Texas Public Funds Collateral Act.
Evaluation carries four stated criteria with point weighting: cost of services and rates (40 points), experience and qualifications (25 points), quality of services (25 points), and references (10 points). Applicants must submit detailed information on banking services capabilities, pro-forma account analyses reflecting proposed fees based on City transaction volumes, financial qualifications, references, earnings credit rates, interest rates, and a comprehensive fee schedule covering account services, wire transfers, ACH origination, fraud protection, and optional services such as lockbox and remote deposit capture. All compensation, whether through earnings credits or direct fees, must be specified in the application. Pricing terms are fixed for the entire contract period and all renewal options.
The City anticipates awarding the contract to a single institution, though it reserves the right to make split awards or reject all applications. The City retains the right to terminate the contract without penalty upon 90 days' written notice and requires semi-annual review meetings with the selected institution.
Opportunity text
The City of Waxahachie, Texas, is requesting electronic applications from qualified financial institutions to serve as the City's primary depository. The City's current depository service contract expires in January 2027. In accordance with Texas Local Government Code § 105.017, municipal depository services contracts are limited to a maximum term of five years.
The City anticipates awarding a new depository services contract effective January 2027 and invites eligible financial institutions to submit applications for consideration. The selected institution will provide banking and depository services in accordance with the terms, conditions, and requirements outlined in this Request for Applications (RFA).
Files
| File | Type | Posted |
|---|---|---|
| Primary_Depository_Services.pdf |
On GovTribe
Work this opportunity
- Track it in your pipeline
- Similar opportunities
- Ask GovTribe AI about this opportunity