HomeMy WebLinkAbout030721 ORD - 12/15/2015 ORDINANCE TO ACCEPT STAFF RECOMMENDATION TO DESIGNATE FROST
BANK AS THE DEPOSITORY FOR MUNICIPAL FUNDS IN ACCORDANCE WITH
SECTION 105.016 OF THE TEXAS LOCAL GOVERNMENT CODE AND
AUTHORIZING THE CITY MANAGER OR DESIGNEE TO EXECUTE A DEPOSITORY
SERVICES CONTRACT FOR A PERIOD OF 3 YEARS TO COMMENCE ON
JANUARY 1, 2016 AND END ON DECEMBER 31, 2018 WITH AN OPTION TO
RENEW FOR TWO ADDITIONAL ONE-YEAR PERIODS
Whereas, the City of Corpus Christi through the City Treasurer issued a Request for
Applications for depository services;
Whereas, two banks submitted responses which were received and reviewed by City
staff;
Whereas, the City Council has been presented the specifications of each application in
accordance with Section 105.011 of the Texas Local Government Code responses,
along with staff recommendation for consideration;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL FOR THE CITY OF
CORPUS CHRISTI, TEXAS:
Section 1. That Frost Bank is designated as the municipal depository for municipal
funds.
Section 2. That the City Manager or his designee is authorized to execute a depository
services contract with Frost Bank to provide depository banking services, lockbox
services and related financial services to the City of Corpus Christi, for a period of 3
years, commencing on January 1, 2016 and ending on December 31, 2018, with an
option to renew for two additional one-year periods. A copy of the depository services
agreement is attached in substantially final form as Attachment A.
Attest: City of Corpus Christi
14"tes-&
Rebecca Huerta, City Secretary Nelda Martin ayor
03072 1
INDEXED
That the foregoing or ance was ea for the first time and passed to its second
reading on this the day of ( 15, by the following vote:
Nelda Martinez at Brian Rosas I.1,;
Rudy Garza il. Lucy Rubio 1AL
,
Chad Magill 42 Mark Scott 141
Colleen McIntyre ;'A: Carolyn Vaughn I I ,
/
Lillian Riojas r 4 ,
,
I
That tWforegoing or inannccew�for the second time and passed finally on this
,`�
the day of 2015, by the following vote:
Nelda Martinez Brian Rosas
___4_
cuy---
Rudy Garza / / Lucy Rubio
Chad Magill / Mark Scott
I
Colleen McIntyre ' Carolyn Vaughn CV ,
1
Lillian Riojas
-----1-o C--
PASSED AND APPROVED, this the 164'J- day of NWA002015.
ATTEST:
I
1-2.9„Le,<,c,c. /4tAgAlt, - ,11
Rebecca Huerta Nelda . "N„,
City Secretary Mayor
030721
CITY OF CORPUS CHRISTI
DEPOSITORY SERVICES AGREEMENT
Whereas, the City of Corpus Christi ("City") requested and received applications for the provision of
depository services for City funds from depositories doing business within the city limits of Corpus Christi,
Texas;
Whereas, the City Council considered and reviewed the specifications of each application received and
determined which application was the most advantageous for the City;
Whereas, on the City Council in Motion designated
("Depository") to be the depository for City funds and authorized the City Manager to execute this depository
services agreement("Agreement") with Depository;
NOW THEREFORE, in consideration of the mutual benefits to be derived from this Agreement,
including representations, warranties, and covenants, the City and Depository agree as follows:
ARTICLE 1
Definitions
For purposes of implementing this Agreement, the terms listed below will have the following meanings:
"Authorized City Representative": the City Manager or other persons designated to perform duties in
accordance with this Agreement. The present Authorized City Representatives are specified in Exhibit A.
"Account Transfers": written, electronic (wire/ACH), telephonic, facsimile or oral requests or orders issued
by an Authorized City Representative for the transfer of City funds on deposit from City accounts maintained
at the Depository for credit to accounts designated by the Authorized City Representative.
"Deposits": include demand and time deposits. The City may withdraw demand deposits on demand. Time
deposits are subject to a contract under which the City may not withdraw funds by check or other means until
the expiration of a certain period following written notice.
"City Funds": all accounts held by the Depository for the City.
"Total City Balance": the sum of all ledger balances of all City accounts held by Depository.
"Depository Services": all services required according to this Agreement
"Other Financial Services": all services necessary in the administration, collection, investment, and transfer
of city funds.
ARTICLE 2
Provision of Depository Services
2.01 Depository Services and Fees. The Depository hereby agrees to provide depository and other
services described in this Agreement for the City funds deposited at the Depository. The City agrees to pay a
net monthly service fee to Depository, which will be calculated as described herein.
2.02 Guaranteed Service Fees. All service fees listed in Applicant's response to Section 3.6, Fees, of the
Request for Applications, are guaranteed for the entire term and any option year of the Agreement. The service
fees will be used in calculating the net monthly service fee.
2.03 Calculation of Net Monthly Service Fee. A written invoice evidencing the services performed for the
City by the Depository must be mailed to the City at the end of each month for each account. This invoice
must also contain a section summarizing the services provided and the fees for services for all accounts. The
City will have five working days to confirm the services performed. After the City has confirmed the services
performed by the Depository, the City agrees to pay a monthly net service fee for the services provided by
Depository. The monthly net service fee is to be calculated as follows:
The Depository will calculate total earnings credit for all City account balances grouped together and
not for single account balances. The Depository will calculate the total monthly service fees for all
accounts. If the total service fees are greater than the total earnings credits, then the difference
between the two will be the net depository service fee for the month.
2.04 Payment of Net Monthly Service Fee. The Depository will not debit a City depository account for
the net monthly service fee until the Depository and the City agree that the net monthly depository service fee
is correct. The net monthly service fee will be allocated among accounts as designated by an Authorized City
Representative.
2.05 Representations of Depository.
The Depository shall:
(a) keep the City funds covered by this Agreement;
(b) faithfully perform all duties and obligations imposed on the Depository by law and
under this Agreement;
(c) pay on presentation all checks drawn and properly payable on a demand deposit account
with the Depository;
(d) pay all transfers properly payable as directed by an Authorized City Representative;
(e) provide and maintain security at the level required by the provisions of Chapter 2257,
Government Code and this Agreement; and
(f) account for the City funds as required by law.
2.06 Electronic Cash Management Services. The Depository must provide electronic cash management
services. Using Internet access, the City through an Authorized City Representative must be able to access and
transmit a variety of balance and transaction information as required in this Depository Services Agreement.
Any necessary software to perform these services, including but not limited to, stop payments, wire transfers,
account balance and transaction information, positive pay, lockbox, and transmission of Automated Clearing
House ("ACH") debit or credit transactions, shall be made available by the Depository, at no charge to the
City.
2.07 Deposits. The Depository shall accept all deposits made by the City during the term of the Depository
Services Agreement. The Depository shall accept City deposits for ledger credit until 3:00 p.m. Central Time
(CT) each business day. The City reserves the right to exclude deposits made on behalf of the Corpus Christi
Fire Fighters' Retirement System and any other special funds which are controlled by entities separate and
apart from the City.
2.08 Items Deposited. All payments made directly to the City by customers will be sent to the bank un-
encoded.
2.09 Automated Information Reporting. Using Internet access, the City must be able to access, for each
City account, the previous day's ending ledger balance, collected balance, float, and debit/credit detail by 8:00
a.m. CT daily. By this same deadline, this information shall be combined to reflect totals for all City accounts
taken together.
2.10 Items Processing Service. The Depository shall provide the following processing services for all
items of checks and cash deposited by the City, including, but no limited to: encoding services, credit and
debit advices given to the City within three business days of the debit or credit, clearing returned items, and
return of stamped duplicate deposit slips to the City within one business day of deposit.
The City intends to deposit all revenues directly to the Depository by courier. The deposits will be made in
batches with a tape to be provided for each batch. If the Depository Item Processing Department discovers an
error in the deposit, then the Depository shall prepare a credit or debit advice and mail it to the City
immediately after the account has been adjusted. The Depository shall also mail the appropriate
documentation attached to the debit or credit advice to justify the correction. Appropriate documentation is
considered to be a copy of the City's tape with the item in question marked and a copy of the check in
question.
2.11 Check Sorting Requirements. Accounts that have more than 400 checks shall be fine-sorted in
numerical order by the Depository.
2.12 Insufficient Funds (NSF)/Returned Items. A complete description shall be provided on all
NSF/returned items deposited into City accounts. The description shall include the Payor's name, applicable
City department, and reason for return. All NSF/returned items shall be charged back to the account to which
the items were deposited provided that the City department is identified by endorsement stamp or other readily
identifiable means on the item. The Depository will send the NSF/returned items to the City department or
other business designated by an Authorized City Representative.
2.13 Stop payments. Stop payments shall remain in effect for at least six (6) months. By using Internet
access, the City through an Authorized City Representative shall be able to initiate stop payments. Placement
of stop payments through the Internet does not require follow-up written authorization.
2.14 Automatic payroll deposit services. Using Internet access, the City through an Authorized City
Representative will electronically transmit City employee payroll data to the Depository. The Depository will
receive the data and prepare an Automated Clearing House ("ACH") debit. The Depository payroll account
will be debited no sooner than the date of payroll. Exhibit A contains the 2016 Payroll Calendar. Procedures
for processing the ACH debit are set out herein.
2.15 General Wire Transfer Services. Using Internet access, the City shall be able to initiate general
wire transfer services including initiation of repetitive and non-repetitive wire transfers.
The Depository shall act upon all electronic, written or verbal transfer requests within one hour from the time
received from an Authorized City Representative, and use any means for the transmission of the funds the
Depository may consider suitable up until 3:30 p.m. CT.
The Depository shall record all telephonic instructions from the City received by the Depository's wire transfer
department and retain the recordings for sixty-one (61) days (the period for City notification of discrepancies)
following such requests.
In the event there is a loss of interest or use of funds as result of a Depository error for failure to execute a
transfer request on the date received, or such other error within the Depository's control, compensation for loss
shall be corrected by adjusting the aggregate ledger and collected balances of the City accounts to reflect
properly the average balances of the amounts that would have resulted had no error occurred.
2.16 Account Reconciliation Services. All depository statements and paid items shall be on a monthly
cycle and shall be cutoff on the last calendar day of the month. The City will pick up all Depository
statements via electronic format (such as a compact disk— CD) no later than the fifth working day following
the assigned cut-off date. The Depository may not mail the CD unless an Authorized City Representative
approves such mailing.
If a statement for a City depository account is not cut off as specified in this Agreement, the Depository shall
reimburse the City for the costs incurred to reconcile the statement, including City employee overtime costs.
The Depository will provide the City access to cleared checks via the Internet.
2.17 Depository Reconcilements. Automated depository reconcilements with Internet access are required
for the Vouchers Payable and Payroll accounts and other accounts as required by an Authorized City
Representative as transaction volume increases. By using the Internet, the City will electronically transmit
reconcilement data to the Depository. Reconcilements shall be available for pick up by the City by the ninth
working day following the date the data was transmitted to the Depository. "Add/delete" adjustment forms
will be provided by the Depository. The Depository will transmit reconcilement information to the
administrators of the City's health care and worker's compensation accounts and others as designated by the
City.
2.18 Checking with Interest Accounts. If designated by an Authorized City Representative, a demand
deposit account will be set up as interest bearing and interest will be paid monthly. Interest rates will be those
set for public fund interest bearing accounts.
2.19 Controlled Disbursement Service. Specific accounts as designated by an Authorized City
Representative will be controlled disbursement accounts. By 11:15 a.m. CT each day, the City shall be able to
access same day information concerning controlled disbursement clearings using the internet.
/20 Zero-Balance Accounts . Specific accounts as designated by an Authorized City Representative will
be zero-balance checking accounts for ease in reconciling and record keeping.
2.21 Check Cashing. Depository shall pay on presentation all checks drawn and properly payable on a
City demand deposit account at no charge to the payee or to the City.
2.22 Deposit Locations. The City will have the option to make Deposits at the Depository's main
Corpus Christi office or at any of Depository's Corpus Christi branches. A deposit ticket will be presented to
the Depository with each deposit. The Depository will route specified deposit ticket copies to the City on a
daily basis.
2.23 Night Depository. The City will utilize the night depository facilities of the Depository for
safekeeping purposes. The City will use special tamper-evident deposit bags in making deposits through the
night depository facility. Each bag placed in the night depository facility will contain only currency, coin, and
checks. If it appears that a bag has been tampered with, the Depository shall telephone an Authorized City
Representative.
2.24 Overdrafts. The City does not intend to have an overdraft position on any of its depository
accounts throughout the course of the depository services contract. If a check or checks are presented for
payment on any City account where there exist insufficient funds available for payment, the Depository agrees
to pay said checks and promptly notify the Finance Director or Authorized City Representative of the
existence of the overdraft situation. The City agrees to cover the overdraft within one business day. The
Depository will view all City accounts together for purposes of any charges on overdrawn collected balances.
2.25 Authority of Authorized City Representative. An Authorized City Representative may request
depository services as required to implement this Agreement. An Authorized City Representative may open a
depository account. The Depository shall not require corporate resolutions or other documents to establish
depository accounts at the request of an Authorized City Representative.
2.26 Investment Services. The City reserves the right to exclude from the terms of this Agreement,
investment in certificates of deposits, government securities, fully collateralized repurchase agreements or
similar instruments authorized by law.
2.27 Account Executive Service. The Depository agrees to assign one of its officers employed by the
Depository in Corpus Christi, Texas to coordinate the depository relationship established under this
Agreement. The assigned officer is responsible for responding to questions from an Authorized City
Representative. The assigned officer shall perform necessary research to promptly respond to questions or
concerns of the City regarding its accounts. The assigned officer of the Depository shall meet with the City at
least once a month to evaluate the working relationship between the City and the Depository and to address
any problems.
2.28 Reports. The Depository will provide quarterly reports of income/condition (required by the FDIC)
by the 15th day following the reporting deadline for each calendar quarter.
2.29 Direct Debit of Utility Customers. The City shall electronically transmit data to the Depository
regarding those City Utility, Marina and Misc. Accounts Receivable customers who have previously
authorized the City to directly debit their demand deposit accounts for their City bills. Upon request by the
City, the Depository shall provide this pre-authorized direct debit service. The Depository will receive the
data and prepare an ACH debit in accordance with the operating rules of the South Western Automated
Clearing House Association and the operating rules of the National Automated Clearing House Association
and as provided herein.
ARTICLE 3
Security for Deposits
3.01 Background. As security for the deposits of the City, the Depository shall pledge to the City
securities equal to the largest total ledger balances the City maintains in the Depository, less the amount of
coverage provided by the Federal Deposit Insurance Corporation.
All funds deposited under the Depository Services Agreement shall be continuously secured in accordance
with applicable federal laws and regulations as well as the laws of the State of Texas, including, but not
limited to: the Public Funds Collateral Act, Vernon's Texas Government Code Section 2257.001 et. seq. and
Subchapter C Security for Funds Held by Depository of Vernon's Texas Local Government Code.
3.02 Qualification as Depository. The Depository shall, no later than five days before the commencement
of the term of this Depository Services Agreement, pledge security for the funds to be deposited by the City at
the Depository as provided by Subchapter C, Security for Funds Held by Depository of Chapter 105,
Depositories for Municipal Funds of the Texas Local Government Code, Chapter 2257, Public Funds
Collateral Act, Government Code, and this Depository Services Agreement.
3.03 Collateral Provision of Financial Institution Reform, Recovery and Enforcement Act(FIRREA).
The Depository shall provide certification that the Depository has complied with all requirements of the
Financial Institution Reform, Recovery and Enforcement Act (FIRREA) and FDIC policies which may apply
to the City's security interests in the pledged collateral and shall specify the officers of the Depository who are
authorized to sign agreements with the City. Prior to the initial pledge of securities under the Depository
Services Agreement, the Depository shall: (a) execute a Security Agreement- Pledge and ancillary agreements
necessary to effect the pledge of securities to collateralize all of the City's deposits in such form as is
acceptable to the City; (b) deliver to the City a certified copy of excerpts from the minutes of a meeting of the
Loan Committee and/or Board of Directors of the Depository, properly authorizing the Depository to enter
into a Security Agreement-Pledge, and to pledge assets of the Depository to secure all deposits made by the
City with the Depository; and (c) deliver to the City certification that the Depository Agreement, the Security
Agreement-Pledge, and the authorization of the Board of Directors and the Loan Committee of the Depository
have been placed(and will continuously be maintained) in the official records of the Depository.
3.04 Permissible Security. Only the following types of securities are acceptable to the City to secure City
deposits:
(1) a treasury note of the United States or other evidence of indebtedness of the United
States that is guaranteed as to principal and interest by the United States.
(2) an obligation of an agency of the United States, provided that: (i) the market value can
be readily established and (ii) the obligation has been approved by an Authorized City
Representative.
3.05 Custodian of Pledged Securities. The securities pledged by the Depository as collateral for City
deposits shall be deposited with a Texas branch of the Federal Reserve Bank, ("the Custodian"), in escrow in a
safekeeping account held in the name of the City, ("the Custodian Account"). The Custodian Account shall
require the authorization of both the Depository and an Authorized City Representative to release pledged
collateral. The Custodian, upon receipt of pledged securities, shall promptly issue and deliver to the
Authorized City Representative trust receipts for the securities pledged. The securities shall be held by the
Custodian. The Custodian may not transfer or deposit the securities in another institution without the prior
written authorization of an Authorized City Representative.
3.06 Amount of Collateral. Securities pledged by the Depository to secure City funds on deposit
identified with federal taxpayer identification number 74-6000574 shall have a market value of at least thirty
million dollars ($30,000,000) or as designated in writing by an Authorized City Representative. During the
City's tax season, which occurs from October through March, the Depository shall provide additional
collateral in accordance with this Agreement.
Securities pledged by the Depository to secure City funds identified with federal taxpayer identification
number 74-2442464 shall have a market value of at least four million dollars ($4,000,000) or as designated in
writing by an Authorized City Representative.
3.07 Determination of Market Value.The market value of a security is to be determined by an Authorized
City Representative from a third party source (i.e. Primary dealer, Wall Street Journal) and is binding on the
Depository.
3.08 Charges for Collateral. Charges for the collateral provided by the Depository are provided in
the Applicant's response to Section 3.6, Fees, B. of the Request for Applications.
3.09 Federally Insured Deposits. The Depository is not required to provide security for the deposit of
City funds to the extent deposits are insured under 12 U.S.C.A., Sections 1811-1835a.
3.10 Additional Security. An Authorized City Representative may, by written order, require the
Depository to pledge additional collateral at any time it is determined to be advisable. Additionally, if, for any
reason, the total City balance on deposit with the Depository exceeds the market value of pledged security, the
Depository shall immediately pledge additional securities to the City.
Any additional security pledged shall meet the requirements of this Depository Services Agreement and shall
be approved by an Authorized City Representative. Failure to pledge additional securities on the day the
Depository is provided notice constitutes grounds for City Council to select a new depository as required by
law and terminate the Depository Services Agreement.
Prior to the pledge of additional securities under the Depository Services Agreement, the Depository shall: (a)
execute a Security Agreement-Pledge and ancillary agreements necessary to effect the pledge of additional
securities to collateralize all of the City's deposits in such form as is acceptable to the City; (b) deliver to the
City a certified copy of excerpts from the minutes of a meeting of the Loan Committee and/or Board of
Directors of the Depository, properly authorizing the Depository to enter into a Security Agreement-Pledge,
and to pledge assets of the Depository to secure all deposits made by the City with the Depository; and (c)
deliver to the City certification that the Depository Agreement, the Security Agreement-Pledge, and the
authorization of the Board of Directors and the Loan Committee of the Depository have been placed (and will
continuously be maintained) in the official records of the Depository.
3.11 Substitution of Securities. The Depository may substitute one security for another provided that the
security meets the requirements of this Depository Services Agreement; the substitution is approved, in
writing, by an Authorized City Representative and the Depository. Prior to such substitution of securities, the
Depository shall: (a) execute a Security Agreement- Pledge and ancillary agreements necessary to effect the
pledge of securities to collateralize all of the City's deposits in such form as is acceptable to the City; (b)
deliver to the City a certified copy of excerpts from the minutes of a meeting of the Loan Committee and/or
Board of Directors of the Depository, properly authorizing the Depository to enter into a Security Agreement-
Pledge, and to pledge assets of the Depository to secure all deposits made by the City with the Depository; and
(c) deliver to the City certification that the Depository Agreement, the Security Agreement-Pledge, and the
authorization of the Board of Directors and the Loan Committee of the Depository have been placed (and will
continuously be maintained) in the official records of the Depository.
3.12 Release of Security. If the securities pledged by the Depository exceed the amount required under
this Depository Services Agreement, an Authorized City Representative may authorize the release of the
excess. Such release shall be approved in writing by an Authorized City Representative.
3.13 Records and Audit. The Depository shall maintain separate, accurate, and complete records relating
to the deposit of public funds, the pledged investment securities, and all transactions relating to the pledged
investment securities. The Custodian shall maintain separate, accurate, and complete records regarding the
pledged investment securities. All such records shall be subject to any internal or external audit or regulatory
examination of the Depository or Custodian.
3.14 Documentation to Be Provided to City. The Depository and Custodian shall provide documentation
relating to the description of securities pledged as collateral, substitution of pledged securities, pledge of
additional securities, and withdrawal of excess securities to the Authorized City Representative. A certificate
as to the then-market value of securities pledged as security hereunder shall be provided to the Authorized
City Representative at least monthly.
3.15 Surrender of Interest on Securities. Upon the request of the Depository, the City shall surrender,
when due, interest coupons or other evidence of interest on securities if the remaining value of the securities
pledged are adequate to meet the requirements of this Agreement.
ARTICLE 4
Account Transfers
4.01 Electronic, Telephonic, Telegraphic or Oral Requests for Account Transfers. The Depository is
authorized to honor, execute and charge City accounts for electronic, telephonic or oral requests:
(a) for the transfer of funds from designated City accounts to any other City depository
account, whether the account is with the Depository or another financial institution; or
(b) for the transfer of funds from designated City accounts to the account of or the credit of
a third party, whether the third party account is with the Depository or another financial
institution.
All requests shall be properly identified as being made by an Authorized City Representative in
compliance with the Depository's transfer procedures.
4.02 Internal Transfers. An Authorized City Representative will periodically need to transfer funds from
one City account to other City accounts.
4.03 Instructions for Transfer. The Depository shall act upon all electronic, written or verbal transfer
requests within one hour from the time received from an Authorized City Representative, and use any means
for the transmission of the funds the Depository may consider suitable up until 2:30 p.m. CT.
4.04 Immediate Credit. The Depository shall give both ledger and collected credit the day of the wire
receipt, regardless of the time the Depository receives the transfer through the Fed wire System. Credit to City
accounts for incoming wire transfers shall be immediate.
4.05 Daylight Overdraft Policy. The City actively invests in marketable securities. An outgoing wire
transfer will be made in the morning for the reinvestment of funds expected by an incoming wire transfer. The
Depository shall allow the City to reinvest and to wire funds out in anticipation of an incoming wire transfer
later in the day. The Depository will not charge the City for daylight overdrafts. When a daylight overdraft is
anticipated, an Authorized City Representative will notify the designated depository official of the situation.
4.06 Notification of Funds Transfers. Notification to the City of incoming wire transfers or problems with
outgoing wire transfers shall be made within one hour of the transaction. The City allows two authorized
employees to initiate repetitive transfers. All authorized employees will be issued a personal identification
number in order to initiate wire transactions. If the wire transfer is initiated over the telephone, the Depository
shall telephone the City and specifically request to speak to an Authorized City Representative other than the
person initiating the wire to verify that the wire is authorized prior to releasing the wire.
4.07 Records. The Depository shall record all telephonic instructions from the City received by the
Depository's wire transfer department and retain the recordings for sixty-one (61) days (the period for City
notification of discrepancies) following such requests. The City agrees to report any discrepancies between
the City's records and the Depository statement to the Depository's wire transfer department in writing within
sixty-one (61) days after the statement date.
4.08 Discrepancies/Loss of Interest/Error. In the event there is a loss of interest or use of funds as result
of a Depository error for failure to execute a transfer request on the date received, or such other error within
the Depository's control, the Depository agrees that compensation for loss shall be corrected by adjusting the
aggregate ledger and collected balances of the City accounts to reflect properly the average balances of the
amounts that would have resulted had no error occurred.
4.09 Designated Accounts. Account Transfers may be made from the other accounts as designated by an
Authorized City Representative.
ARTICLE 5
Other Financial Services
5.01 Bailor/Bailee Relationship. Until deposits are credited to the City as evidenced by validation of
duplicate deposit slips, the relationship between the City and the Depository as to all contents shall be that of
Bailor and Bailee. The Depository shall be responsible and liable to the City for use of that degree of care
required under the laws of Texas for Bailees having custody of property of other persons.
5.02 Custody, Safekeeping of Governmental Agency Securities. The Depository agrees to handle all
purchases and sales of securities on a delivery versus payment or payment versus delivery basis (i.e. for
securities purchases, monies will not be released by the City's safekeeping bank until securities are received at
the Federal Reserve Bank or further credit to the City's safekeeping bank. In the case of securities sales,
monies will be received by the City's safekeeping bank via the Federal Reserve Bank as the securities are
simultaneously released to the purchaser). In this manner, the City will always have possession of either the
securities or its monies on a delivery versus payment basis. The cost of safekeeping securities, processing
purchase/sale transactions, and coupon interest payments are listed in the Applicant's response to Section 3.6,
Fees, A., MONTHLYPRICING SUMMARY FORM.
The City will send written instructions to the securities clearance department for each transaction. Most of
these instructions will be sent by facsimile to assure the timeliness of the operation. It is specifically provided
that when a City security matures, or when a City security is purchased, funds will be transferred from or to
the Combined Operating account, the Bond Funds account, or another account as directed by an Authorized
City Representative. The Depository shall give prompt notification to the City of any settlement problems,
including securities delivered where the instructions do not match or where instructions have not been given to
the Depository.
All securities shall be perfected in the name of the City. All book entry securities owned by the City shall be
evidenced by a safekeeping receipt issued to the City. The original safekeeping receipt for each transaction
will be forwarded to the City.
ARTICLE 6
General Provisions
6.01 Automated Clearing House ("ACH") Membership. The Depository shall be a participating
depository in the Southwestern Automated Clearing House Association to be able to deliver debit and credit
payments for the following transactions: City employee Payroll Account, Vouchers Payable Account, and pre-
authorized City Utility, Marina and Misc. Accounts Receivable customer debits. An Authorized City
Representative shall establish use of additional ACH transactions in writing.
The Depository warrants that it is a participating financial institution in the Southwestern Automated Clearing
House Association ("SWACHA"), which provides facilities for the exchange of electronic funds transfers
among its members, and other automated clearing house associations within the United States by utilizing the
capacities of the National Automated Clearing House Association("NACHA"). The Depository acknowledges
that it shall comply with the rules, as may be amended, for the notification, posting, or transfer of funds by
means of electronic credit transfer facilities. The Depository is required to comply with the procedures of the
SWACHA and NACHA including, but not limited to, matters such as input format, data acceptance criteria,
return item handling, adjusting entries, and dishonored entries.
6.02 Charging of Fees. The Depository is authorized to charge City accounts upon direct authorization by
an Authorized City Representative for:
(a) charge backs on correction of mathematical errors, and
(b) bank service fees owed to Depository, including Deficient Balances Before Services.
Deficient Balances Before Services will be reviewed by the City's Treasurer on a
quarterly basis for fee assessment.
The Depository or the City will not change the schedule of fees as listed in Applicant's response to Section
3.6, Fees, of the Request for Applications during the initial term of this Agreement or during any option year.
6.03 Confidentiality, Audits and Inspections. All information assembled by the Depository under this
Agreement is to be kept confidential and not be made available to any individual or organization without the
prior written approval of the City. At reasonable times during regular business hours, the Depository will make
available for examination by the City, its duly authorized agent, accountant, or legal representative, pertinent
copies of statements and debit and credit items supporting such statements, relating to the City's accounts.
6.04 Recalls,Debit Adjustments and Other Adjustments. The Depository is required to process recall or
adjustment requests upon verbal authorization by an Authorized City Representative followed by written
confirmation by the City, if possible, no later than four(4)working days after the request.
6.05 Compliance with Law. The Depository represents to have the expertise and personnel required and
necessary to perform the services under this Agreement. The Depository acknowledges that it is fully
qualified, authorized, and willing to comply under federal, state and local law to perform the services
described in this Agreement.
6.06 Indemnification. The Depository fully indemnifies, saves, and holds harmless the City of Corpus
Christi, its officers, employees, and agents against any and all liability, damage, account of personal injuries
(including, without limitation on workers' compensation and death claims), or property loss or damage of any
kind whatsoever, which arise out of or are in any manner connected with:
(a) the Depository's failure to fulfill any of the terms and conditions of this Agreement;
(b) any violation by Depository of any applicable federal or state law, rules, or regulation
resulting from any act or omission of the Depository or its agents and employees which
caused a direct loss to the City under this Agreement.
The Depository must, at its own expense, investigate all claims and demands, attend to their settlement or
other disposition, defend all actions, pay all charges of attorneys or other expenses of any kind arising from
liability, damage, loss, claims, demands, and actions. This indemnification will not be construed to require
indemnification of such injury, loss or damage which may be caused or arise from the negligence of the City,
its officers, employees, and agents.
6.07 Term. This Agreement shall commence on the date following the date signed by the last signatory
hereto and shall continue for a period of three years, or until a successor Depository is appointed and qualified.
The City may, by 90 day written notice to Depository, terminate this Agreement during the remainder of the
initial term and any option terms. Upon completion of the initial term, either party may elect to terminate any
option term with 90 days prior written notice. Unless terminated, this Agreement will automatically renew for
two additional one-year terms. Depository guarantees all service fees for the initial term of the Agreement and
any option year. Upon termination or expiration of this Agreement, all finished or unfinished documents, data,
studies, or reports prepared by the Depository, at the option of the City, will be delivered to the City and
become the property of the City.
6.08 Duties After Termination. All obligations of the parties made or incurred or existing under this
Agreement as of the date of termination, with respect to transactions initiated prior to the effective date of
termination, will survive such termination, including, but not limited to: Depository's obligation to retain
duplicates of transaction receipts and credit slips and any continuing obligation of the Depository with respect
to charge backs. Upon termination of this Depository Services Agreement, all finished or unfinished
documents, data, studies, or reports prepared by the Depository, at the option of the City, will be delivered to
the City and become the property of the City.
6.09 No Endorsement. The Depository is not authorized to advertise or publish the fact that the City has
entered into this Agreement without the City's prior written consent.
6.10 Notices. Notices provided herein will be in writing and delivered to:
On behalf of the City: City of Corpus Christi
Judy Villalon, City Treasurer
P.O. Box 9277
Corpus Christi,TX 78469-9277
On behalf of the Depository:
6.11 Assignment. Any party may not assign this Agreement without the prior written consent of the other
party.
6.12 Force Majeure. Neither party will be responsible for losses resulting if the fulfillment of any terms or
provisions of this control of the party whose performance is interfered with, and which, by the exercise of
reasonable diligence, said party is unable to prevent.
6.13 Conflicts of Interest. The Depository agrees to maintain current, updated disclosure of information on
file with the Director of Finance throughout the term of this Agreement as may be required by the City Code
of Ordinances or the City Charter.
6.14 Equal Employment Opportunity. The Depository agrees that during the performance of this
Agreement, it will:
(a) treat all applicants and employees without discrimination as to race, color, religion, sex,
national origin, marital status, age, or handicap, and
(b) identify itself as an "Equal Opportunity Employer" in employment advertising or
requests.
The Depository will be advised of any complaints filed with the City alleging that the Depository is not an
Equal Opportunity Employer. The City reserves the right to consider its reports from the Human Relations
Administrator in response to such complaints.
6.15 Entire Agreement. This Agreement and all amendments hereto, as may be updated, constitute the
entire agreement between the parties and will supersede all previous negotiations, commitments, and contracts.
6.16 Governing Law and Venue. To the extent this Agreement is not governed by applicable federal laws
and regulations, this Agreement will be governed by and construed in accordance with laws of the State of
Texas. Any suit brought in connection with this Agreement shall be tried in Nueces County, Texas.
6.17 Notification of Changes in Depository Laws. The Depository shall notify the City in writing within
ten (10) days of any changes in federal or state regulations or laws that would thereafter affect the Depository
Services Contract. The Depository shall also notify the City of any services, which become available to the
City throughout the contract period.
6.18 Monthly Reports. The Depository shall provide to the City each quarterly CALL report (Schedule RC
only) as well as any public information concerning changes in the ownership, management or financial
position of the Depository or its parent company.
6.19 Corporate Resolutions Not Required. The Depository shall not require corporate resolutions when
an Authorized City Representative opens an account.
6.20 Precedence of Contract Documents. In case of a conflict in the contract documents, first precedence
shall be given to the fully executed contract, as amended; second precedence shall be given to the REQUEST
FOR APPLICATION, including addenda and third precedence shall be given to the application, as clarified.
6.21 Terms During Extension Year. During any extended term of the agreement, all terms, conditions
and pricing shall remain the same as those in the agreement applicable to the primary term.
AGREED TO BY:
CITY OF CORPUS CHRISTI DEPOSITORY
BY: BY:
NAME: NAME:
TITLE: TITLE:
DATE: DATE:
Incorporated by Reference:
Exhibit A—Authorization for Depository Accounts
Exhibit B—2016 Payroll Calendar
Exhibit C—Request for Applications Event No.: 87
Exhibit D—Applicant's/Depository's Response to Request for Applications Event No.: 87 (Upon Request)
EXHIBIT A
Attached to and made a part of the
City of Corpus Christi Depository Services Agreement
AUTHORIZATION FOR DEPOSITORY ACCOUNTS
As the duly authorized City Manager of the City of Corpus Christi, I designate the officials listed below
as the Authorized City Representatives of the City of Corpus Christi.
The signatures below are the signatures of the Authorized City Representatives vested with full authority
to sign and transact business for the City including, but not limited to, Account Transfers, open and close
accounts, request reports, or authorize other signatories to specific bank accounts. The signatures of the
officials subscribed below are true and genuine:
Judy Villalon
City Treasurer
Alma Iris Casas
Assistant Director of Financial Services
Constance P. Sanchez
Director of Financial Services
Controller
This Authorization for Depository Accounts is entered into in addition to and will not amend, modify,
waive, or revoke any of the terms of the City of Corpus Christi Depository Agreement except as expressly
provided herein. This authorization is entered into to facilitate the electronic transfer of funds or
administration of the services to be provided pursuant to the City of Corpus Christi Depository
Agreement. It is not intended to empower Authorized City Representatives to approve or accept
amendments, waivers, or new provisions or terms to the Depository Agreement on behalf of the City of
Corpus Christi. Authorized City Representatives remain authorized until the Depository receives written
notification revoking authorization.
THIS AUTHORIZATION FOR DEPOSITORY ACCOUNTS is effective this th day of
, 2015 and revokes all previous authorizations.
ATTEST: CITY OF CORPUS CHRISTI
By By
EXHIBIT B
2016 PAYROLL CALENDAR
PAY DATE
01/15/16
01/29/16
02/12/16
02/26/16
03/11/16
03/25/15
04/08/16
04/22/16
05/06/16
05/20/16
06/03/16
06/17/16
07/01/16
07/15/16
07/29/15
08/12/16
08/26/16
09/09/16
09/23/16
10/07/16
10/21/16
11/04/16
11/18/16
12/02/16
12/16/16
12/30/16
EXHIBIT C
CITY OF CORPUS CHRISTI PURCHASING
DIVISION
„QUS Cy'Pi
,•r
1);° - lir<1
311
REQUEST FOR APPLICATIONS
("RFA")
for
DEPOSITORY SERVICES
EVENT NO. 87
Release Date: October 24, 2015
Submission Due: November 16, 2015
Table of Contents
Section 1.0 Notice of REQUEST FOR APPLICATIONS
1.1 Request for Applications
1.2 Submission of Application
1.3 Tentative Schedule
Section 2.0 Conditions Governing the Procurement
2.1 Acceptance of General Requirements
2.2 RFA Notice Requirement
2.3 RFA Procedural and Content Questions
2.4 Basis for Application
2.5 Opening of Applications
2.6 Applicant Terms and Conditions
2.7 Disclosure of Application Contents
2.8 Late Applications
2.9 Signing of Applications
2.10 Cost of Application
2.11 Business Designation Form
2.12 Disclosure of Interest
2.13 Ownership of Applications
2.14 Disqualification or Rejection of Applications
2.15 Rejection of Applications
2.16 Right to Waive Irregularities
2.17 Withdrawal of Applications
2.18 Amending of Applications
2.19 Application Offer Firm
2.20 Applicant Qualifications
2.21 Exceptions to RFA Specifications
2.22 Consideration of Applications
2.23 Termination or Cancelation of RFA
2.24 Service Agreement
2.25 Precedence of Contract Documents
2.26 Governing Law
2.27 No Obligation
2.28 Contract Deviations
2.29 Sufficient Appropriation
2.30 Recommendation to City Council
2.31 Award of Contract
2.32 Execution of Contract
2.33 Disputes
2.34 Change in Consultant Representative
2.35 Term
2.36 Change Requests
2.37 Termination of Contract
2.38 Insurance Provisions
2.39 Right to Publish
2.40 Applicant's Ethical Behavior
2.41 Quantities
Section 3.0 Scope of Work
3.1 General Information
3.2 Mandatory Services Requirements
3.3 Technical Solution
3.4 Applicant's Profile and Qualifications
3.5 Local Presence
3.6 Fee Schedule
Section 4.0 Application Format and Organization
4.1 General Instructions
4.2 Application Format
4.3 Transmittal Letter
4.4 Service Agreement
Section 5.0 Application Evaluation
5.1 Evaluation Committee
5.2 Evaluation Criteria
Attachments
EXCEPTIONS FORM
SAMPLE SERVICE AGREEMENT (Contract)
EXHIBIT A - AUTHORIZATION FOR DEPOSITORY ACCOUNTS
EXHIBIT B—2016 PAYROLL CALENDAR
BUSINESS DESIGNATION FORM
DISCLOSURE OF INTEREST
Section 1.0
Notice of Request for Applications
1.1 Request for Applications
A. The City of Corpus Christi "City" hereby issues this REQUEST FOR APPLICATIONS "RFA". The
City is seeking applications from qualified Applicants to provide DEPOSITORY SERVICES. The
City shall enter into a contract resulting herefrom for a period of three years with an option to extend
for up to two additional one-year periods.
B. The City of Corpus Christi is requesting submission of applications for Event No. 87, Depository
Services RFA. The City Treasurer, Judy Villalon, is the designated officer to receive applications
addressed and delivered as follows: Judy Villalon, City Treasurer, City of Corpus Christi, 1201
Leopard Street, 4th floor, Corpus Christi, Texas, 78401. Applications are due on or before 12:00 pm,
Central Time, on November 16, 2015. The City Council will consider the selection of a depository at
the City Council meeting on Tuesday, December 8, 2015 beginning at 11:30 am, at City Hall, 1201
Leopard Street, Corpus Christi, Texas 78401.
C. The City hereby designates Judy Villalon the City Treasurer with overall responsibility for
procurement of this service. Mrs. Villalon's information is as follows:
Judy Villalon
City Treasurer
City of Corpus Christi
1201 Leopard Street, 4th Floor
Corpus Christi, Texas 78401
All inquiries or requests regarding this RFA must be submitted to the City Treasurer indicated above,
or her designee as specified in writing and online, via the City's Supplier Portal
(http://www.cctexas.com/business/supplierportal) using the electronic question submission feature
specific to this RFA. Such inquiries or requests must be submitted by the due date and time provided
in Section 1.3 of this RFA. Other employees do not have the authority to respond for the City in
writing and any attempt to question other employees regarding this RFA may result in the City
disqualifying that Applicant. Only written responses from the City Treasurer or her designee will be
binding with regard to inquiries requesting clarification or additional information. The City
Treasurer's written responses will be released simultaneously to all prospective Applicants.
D. A pre-application conference will be held at the date and time and in the location specified therefor in
Section 1.3 of this RFA.
1. The purpose of the pre-application conference is to provide an opportunity for prospective
Applicants to discuss, pose questions and obtain clarification from the City regarding this
RFA.
2. The City shall provide written responses to all prospective Applicants in the form of written
addenda, for any questions or request for clarification submitted at the pre-application
conference if information is necessary to Applicants in submitting applications or if the lack of
such information would be prejudicial to un-informed Applicants. Oral explanations or
instructions provided by the City before the award of the contract shall not be binding upon the
City.
1.2 Submission of Application
A. APPLICANT SHALL SUBMIT ITS APPLICATION IN WRITING TO THE ADDRESS
STATED IN SECTION 1.1.C. APPLICANT MAY, IF PREFERRED, SUBMIT ITS
APPLICATION ELECTRONICALLY, AS INSTRUCTED HEREIN, VIA THE CITY'S
SUPPLIER PORTAL. Applicant must select either a hard copy or an electronic submission but may
not do both. All proposals must be complete and accurate and in the City-approved format specified
herein.
B. The City Treasurer will review and evaluate the written applications in response to this RFA. The City
Treasurer may conduct additional interviews with selected Applicants for the purpose of further
exploring and clarifying the Applicant's response. The City Treasurer will rank the Applicants based
on the suggested evaluation criteria set forth in the Evaluation Model of this RFA and will present the
specifications of each Applicant to the City Council for designation to provide City depository
services. The City Council will select Applicant and will negotiate applicable terms and conditions
with the selected Applicant. The City intends to award one contract to one Applicant. In the event
contract negotiations are not successful with the Applicant initially selected, the City Council may end
negotiations and select an alternate Applicant for possible award. The City reserves the right to not
award a contract at all. Award will be made, based on the application most advantageous and
providing the best value to the City.
C. Applications will be evaluated to ascertain which Applicant's applications are most advantageous and
provide the best value to the City. The City intends to utilize an Evaluation Model specifically
designed for this analysis. The Evaluation and Selection process will be based on the following
criteria: 1) Technical Solution, 2) Applicant's Profile and Qualifications, 3) Local Presence, 4) Fee
Schedule and 5) Exceptions. The final weight assigned to each of these parameters will be determined
by the Evaluation Committee.
D. The City's Charter and the City's Electronic Procurement Policy require that all applications
submitted be sealed, secret, unopened and time-locked through the DUE DATE FOR
APPLICATIONS specified in this RFA.
E. Applications will be received by hard copy or electronically, on or before the date and time specified
in Section 1.3 of this RFA. Without exception, applications received after this deadline are late, shall
be deemed non-responsive, and shall not be considered.
F. Applicants shall comply with the additional detailed instructions regarding submission of applications
found in Section 4.0 of this RFA.
1.3 Tentative Schedule
The following is a tentative schedule of evaluation and selection activities:
Date Activity
October 24, 2015 Request for Applications Issued
Pre-application Conference at:
November 2, 2015 3:30 p.m. —5:00 p.m. Central Time (CT)
6th Floor Conference Room
City Hall
1201 Leopard St.
Corpus Christi, Texas 78401
November 9, 2015 Submission of written questions due by 5:00 p.m. CT
November 16, 2015 Applications due by 12:00 p.m. CT
November 18, 2015 Proposed Date for Finalists' Presentations (if necessary)
December 8, 2015 Tentative Date for Recommendation of Award to City
Council
December 15, 2015 Alternate Tentative Date for Recommendation of Award
to City Council
Section 2.0
Conditions Governing the Procurement
2.1 Acceptance of General Requirements
The Applicant must specifically accept all project requirements contained in Section 2, Conditions
Governing the Procurement, and Section 3, Scope of Work, in the transmittal letter as set forth in Section
4.3 of this RFA.
2.2 RFA Notice Requirement
Notice of the REQUEST FOR APPLICATIONS shall be published in the Corpus Christi Caller Times
once a week for two consecutive weeks. The date of the first publication will occur not later than (21)
days prior to the application due date.
2.3 RFA Procedural & Content Questions
A. Any Applicant requiring further clarification of the REQUEST FOR APPLICATIONS procedures
contained herein should submit specific questions in writing to the City Treasurer as described in
Section 1.1, C of this RFA.
B. During a review of this RFA and preparation of the application, certain errors, omissions or
ambiguities may be discovered. If so, or if there are doubts or concerns about the meaning of any
part of this RFA, written questions should be submitted to the City Treasurer as described in Section
1.1, C of this RFA no later than the date and time prescribed for same as provided in Section 1.3 of
this RFA. This should allow sufficient time for the City to answer the written questions and
distribute the written responses so that all prospective Applicants will have the benefit of the revised
information.
2.4 Basis for Application
Only the information contained in this RFA, amendments hereto and information supplied by the City in
writing through the City Treasurer identified herein should be used in the preparation of the Applicant's
application.
2.5 Opening of Applications
A formal opening of the applications shall not take place.
2.6 Application Terms and Conditions
The Applicant must submit, with each copy of the application, a complete set of any additional terms and
conditions proposed for inclusion in the sample Service Agreement (also referred to herein as "Contract")
enclosed herein.
2.7 Disclosure of Application Contents
Applications will be opened in a manner that avoids disclosure of the contents to competing Applicants
and keeps the applications secret during negotiations. All applications are open for public inspection after
the contract(s) are awarded; however, trade secrets and confidential information in the applications are not
open for public inspection. It is specifically provided, however, that each Applicant must identify
any information contained in its application which it asserts is either a trade secret or confidential
information. Such material must be conspicuously identified by marking each page containing such
information as "confidential" or"proprietary". If such material is not conspicuously identified, then by
submitting its application, an Applicant agrees that such material shall be considered public
information.
2.8 Late Applications
Without exception, applications must be submitted on or before the DUE DATE AND TIME FOR
APPLICATIONS. Applications received after the time and date specified in Section 1.3 are late and shall
not be considered.
2.9 Signing of Applications
By submitting and signing an application, the Applicant indicates its intention to adhere to the provisions
described in this RFA.
Applications signed for a partnership shall be signed in the Applicant's name by at least one partner or
in the Applicant's name by an attorney-in-fact. If signed by an attorney-in-fact, there should be attached
to the application, a Power-of-Attorney evidencing authority to sign applications, dated the same date as
the application, and executed in accordance with the legal requirements of the Applicant.
Applications signed for a corporation shall have the correct corporate name thereon and shall bear the
president's or vice-president's original signature with the name and title written below the corporate
name. Any other signature must be accompanied by a resolution of the Board of Directors authorizing
such signature to contract in the corporation's name. The title of the office held by the person signing for
the corporation shall appear below the signature of the officer.
2.10 Cost of Application
This RFA does not commit the City to pay any costs incurred by an Applicant for preparation and/or
submission of an application or for procuring or contracting for the items to be furnished under this RFA.
All costs directly or indirectly related to preparing and responding to this RFA, including all costs
incurred for supplementary documentation, shall be borne solely by the Applicant.
2.11 Business Designation Form
The City of Corpus Christi requires all persons or Applicants seeking to do business with the City to
provide the Business Designation Form on the City-supplied form included herewith. Every question
must be answered. If the question is not applicable, answer with N/A.
2.12 Disclosure of Interest
The City of Corpus Christi Code of Ordinances, Section 2-349, as amended, requires all persons or
Applicants seeking to do business with the City to provide the Disclosure of Interest information on the
City-supplied form included herewith. Every question must be answered. If the question is not
applicable, answer with N/A. Applicants are obligated to provide updated information concerning the
disclosure of interest, as warranted, for the duration of time the applications are under consideration.
2.13 Ownership of Applications
All documents submitted in response to this RFA shall become the property of the City of Corpus Christi.
2.14 Disqualification or Rejection of Applications
Applicants may be disqualified for any of the following reasons:
• There is reason to believe that collusion exists among the Applicants;
• The Applicant is involved in any litigation against the City;
• The Applicant is in arrears on an existing contract or has defaulted on previous contracts with the
City;
• The Applicant lacks financial stability;
• The Applicant has failed to perform under previous or present contracts with the City;
• The Applicant has failed to use the City's approved forms;
• The Applicant has failed to adhere to one or more of the provisions established in this RFA;
• The Applicant has failed to submit its application in the format specified herein;
• The Applicant has failed to submit its application on or before the deadline established herein;
• The Applicant has failed to adhere to generally accepted ethical and professional principles during
the application process; or,
• The Applicant has failed to provide a detailed cost summary in the application.
2.15 Rejection of Applications
Applications may be rejected if they show any alteration of words or figures, additions not called for,
conditional or uncalled-for alternate applications, incomplete applications, erasures or irregularities of any
kind. Applications tendered or delivered after the official time designated for receipt of applications shall
be deemed non-responsive and shall not be considered.
2.16 Right to Waive Irregularities
Applications shall be considered "irregular" if they show any admissions, alterations of form, additions or
conditions not called for, unauthorized alternate applications or irregularities of any kind. The City
Treasurer reserves the right to waive minor irregularities and mandatory requirements, provided that all
responsive applications failed to meet the same mandatory requirements and the failure to do so does not
otherwise materially affect the procurement. This right shall be exercised at the sole discretion of the City
Treasurer.
2.17 Withdrawal of Applications
Applications may be withdrawn by written notice received by the City's Treasurer prior to the exact hour
and date specified for receipt of applications. An application may be withdrawn by an Applicant or
his/her duly authorized representative, provided his/her identity is made known and he/she signs a receipt
for the application,but only if the withdrawal is made prior to the exact hour and date set for the receipt of
applications.
2.18 Amending of Applications
An Applicant may submit an amended application, however, such amended application must be received
at or prior to the exact hour and date set for the receipt of applications; must be a complete replacement of
a previously submitted application; and, such amended application must be clearly identified as such in
the transmittal letter. The City will not merge, collate or assemble application materials for an Applicant.
2.19 Application Offer Firm
By submission of its application, the Applicant affirms that its application and prices contained within
such application are firm for 180 days after the due date for receipt of applications.
2.20 Applicant Qualifications
The Evaluation Committee, as defined in Section 5.1 of this RFA, may make such investigations as
necessary to determine the ability of the Applicant to adhere to the requirements specified herein.
2.21 Exceptions to RFA Specifications
Although the specifications in the following sections represent the City's anticipated needs, there may be
instances in which it is in the City's best interest to permit exceptions to specifications and evaluate
alternatives.
It is vital that the Applicant make very clear where exceptions are taken to the specifications and how the
Applicant will provide alternatives.
Therefore, exceptions, conditions or qualifications to the provisions of the City's specifications must be
clearly identified as such, together with reasons for taking exception and inserted in the application at
that point. In addition, the Applicant must provide responses on the "Exceptions"page to address any
and all items found in all bid documents that the Applicant cannot meet or provide. If the Applicant
does not make clear that an exception is being taken, the City will assume the Applicant is, in its
application, responding to and will meet the specifications of this RFA.
2.22 Consideration of Applications
Discussions may be conducted with responsible Applicants qualified to be selected for award for the
purpose of clarification to assure full understanding of and responsiveness to the solicitation
requirements. In discussions, there shall not be disclosure of any information derived from applications
submitted by competing Applicants. Until award of the Contract is made by the City, the City reserves
the right to reject any or all applications, to waive technicalities, to re-advertise for new applications or to
proceed with the work in any manner as may be considered in the best interest of the City. Should the
City require clarification from the Applicant, the City shall contact the individual named as the
organization's contact person in the City's Supplier Portal. Evaluation of the application is the first step in
a series of evaluation steps that will be conducted by the Committee. The City may elect to conduct post-
submission reference checks or Applicant interviews with any Applicants that are not eliminated based on
their application.
2.23 Termination or Cancelation of RFA
The City reserves the right to terminate or cancel this RFA at any time for any reason whatsoever, as
maybe determine in the sole discretion of the City.
2.24 Service Agreement
The fully executed service agreement, as amended, the REQUEST FOR APPLICATIONS, as amended
and the application constitute the agreement, in its entirety, between the City and the Contractor. Any
other terms and conditions shall be null and void.
2.25 Precedence of Contract Documents
In case of a conflict in the contract documents, first precedence shall be given to the fully executed
contract, as amended; second precedence shall be given to the REQUEST FOR APPLICATION,
including addenda: and third precedence shall be given to the applicants applications, as maybe clarified.
2.26 Governing Law
The laws of the State of Texas will govern any Contract resulting herefrom. The Contract shall be
executed in Nueces County, Texas. The applicable law for legal disputes arising out of the Contract
resulting herefrom shall be the law of the State of Texas.
2.27 No Obligation
This RFA, in no manner, obligates the City or any of its agencies to the eventual services offered until
confirmed by an executed written Contract approved by the Corpus Christi City Council.
2.28 Contract Deviations
Any additional terms or conditions, which may be the subject of negotiation, will be discussed only
between the City and the qualified Applicants.
2.29 Sufficient Appropriation
Any Contract awarded as a result of this RFA process may be terminated if sufficient appropriations or
authorizations do not exist. Such termination will be effected by sending written notice to the Applicant.
The City's decision as to whether sufficient appropriations and authorizations are available shall be
accepted by the Applicant as final.
2.30 Recommendation to City Council
The City Treasurer will present the specifications and may make a recommendation to the City Council
that the award be made to the Applicant whose application is determined by the City to be the most
advantageous and provide the best value to the City.
2.31 Award of Contract
The City reserves the right to withhold final action on applications for a reasonable time not to exceed 180
days subsequent to the deadline for receipt of applications.
The award of a Contract, if an award is made, will be to the most responsible and responsive Applicant
whose the most advantages and provide the best value to the City and whose application meet the
requirements and criteria set forth in this RFA.
2.32 Execution of Contract
The City Council shall authorize award of the Contract to the successful Applicant and shall designate the
successful Applicant ("Contractor") as the City's Provider(s). The City will require the Contractor to sign
the documents necessary to enter into the required Contract with the City and to provide the necessary
evidence of insurance as required in the Contract documents.
No Contract for this project may be signed by the City without the authorization of the City Council, and
no Contract shall be binding on the City unless and until it has been approved as to form by the City
Attorney or his designee and executed as authorized by the City Council to do so.
2.33 Disputes
In the case of any doubt or difference of opinion with regard to the items to be furnished by an Applicant
or the interpretation of the provisions of this RFA, the decisions of the City shall be final and binding
upon all parties.
2.34 Change in Applicant Representative
The City reserves the right to negotiate a change in Applicant representatives if the assigned
representatives are not, in the opinion of the City, adequately meeting the needs of the City.
2.35 Term
The Contract resulting herefrom will be for a term of three years with an option to extend for up to two
additional one-year periods, subject to the approval of the parties. By submission of its application, prices
must be guaranteed for the initial term of the Depository Services Agreement as well as any option years.
Submission of an incomplete Monthly Pricing Summary Form shall be grounds for rejection of the entire
application.
2.36 Change Requests
Contract changes may only be made by an amendment to the Contract resulting herefrom and executed in
writing by the City and the Contractor and approved by the City Council.
2.37 Termination of Contract
The City Treasurer may terminate this Agreement for Contractor failure to perform the services specified
in this RFA. Failure to keep all insurance policies in force for the entire term of this Agreement is
grounds for termination. The Contract Administrator must give Contractor written notice of the breach
and set out a reasonable opportunity to cure. If the Contractor has not cured within the cure period, the
City Treasurer may terminate this Agreement immediately thereafter. Alternately, the City may terminate
this Agreement with or without cause upon 20 days written notice to Contractor. However, City may
terminate this Agreement on 24-hours written notice to Contractor for failure to pay or provide proof of
payment of taxes as set out herein.
If the City terminates its Contract under the foregoing paragraph, the City shall pay the Contractor for
services actually performed prior to such termination, less such payments as have been previously made.
Contractor shall not be entitled to any further compensation for work performed by the Contractor or
anyone under its control or direction from the date of receipt of notice of cancellation including any and
all costs related to the transferring of any files to another Contractor or any costs related to the electronic
transfer of any information including, but not limited to, tape transfers, downloads, uploads, CD, etc.
Upon termination of the Contract, the Contractor shall provide the City reproducible copies of all work
completed or partially completed documents prepared under the Contract—all such documents thereinafter
being the sole property of the City within thirty(30) days of such termination at the Contractor's expense.
2.38 Insurance Provisions
INSURANCE REQUIREMENTS
DEPOSITOR'S LIABILITY INSURANCE
A. Depositor must not commence work under this contract until all insurance required has been
obtained and such insurance has been approved by the City. Depositor must not allow any
subcontractor, to commence work until all similar insurance required of any subcontractor has
been obtained.
B. Depositor must furnish to the City's Risk Manager and Director of Finance, one (1) copy of
Certificates of Insurance with applicable policy endorsements showing the following minimum
coverage by an insurance company(s) acceptable to the City's Risk Manager. The City must be
listed as an additional insured on the General liability and Auto Liability policies, and a
waiver of subrogation is required on all applicable policies. Endorsements must be provided
with Certificate of Insurance. Project name and/or number must be listed in Description Box
of Certificate of Insurance.
TYPE OF INSURANCE MINIMUM INSURANCE COVERAGE
30-day advance written notice of Bodily Injury and Property Damage
cancellation, non-renewal, material change Per occurrence- aggregate
or termination required on all certificates
and policies.
Commercial General Liability including: $1,000,000 Per Occurrence
1. Commercial Broad Form
2. Premises—Operations
3. Products/Completed Operations
4. Contractual Liability
5. Independent Contractors
6. Personal Injury-Advertising Injury
AUTO LIABILITY(including) $500,000 Combined Single Limit
1. Owned
2. Hired and Non-Owned
3. Rented/Leased
WORKERS'S COMPENSATION Statutory and complies with Part II of this
(All States Endorsement if Company is not Exhibit.
domiciled in Texas)
Employer's Liability $500,000/$500,000/$500,000
BANKER'S PROFESSIONAL LIABILITY $1,000,000 per claim
(Defense costs not included in policy limits
of the policy)
If claims made policy, retro date must be
prior to inception of agreement,have
extended reporting period provisions and
identify any limitations regarding who is
insured.
C. In the event of accidents of any kind related to this contract, Depositor must furnish the Risk
Manager with copies of all reports of any accidents within 10 days of the accident.
II. ADDITIONAL REQUIREMENTS
A. Applicable for paid employees, Depositor must obtain workers' compensation coverage through a
licensed insurance company. The coverage must be written on a policy and endorsements
approved by the Texas Department of Insurance. The workers' compensation coverage provided
must be in statutory amounts according to the Texas Department of Insurance, Division of
Workers' Compensation. An All States Endorsement shall be required if Depositor is not
domiciled in the State of Texas.
B. Depositor shall obtain and maintain in full force and effect for the duration of this Contract, and
any extension hereof, at Depositor's sole expense, insurance coverage written on an occurrence
basis by companies authorized and admitted to do business in the State of Texas and with an A.M.
Best's rating of no less than A- VII.
C. Depositor shall be required to submit renewal certificates of insurance throughout the term of this
contract and any extensions within 10 days of the policy expiration dates. All notices under this
Exhibit shall be given to City at the following address:
City of Corpus Christi
Attn: Risk Manager
P.O. Box 9277
Corpus Christi, TX 78469-9277
D. Depositor agrees that, with respect to the above required insurance, all insurance policies
are to contain or be endorsed to contain the following required provisions:
• List the City and its officers, officials, employees, and volunteers, as additional insureds by
endorsement with regard to operations, completed operations, and activities of or on behalf of the
named insured performed under contract with the City, with the exception of the workers'
compensation policy;
• Provide for an endorsement that the "other insurance" clause shall not apply to the City of Corpus
Christi where the City is an additional insured shown on the policy;
• Workers' compensation and employers' liability policies will provide a waiver of subrogation in
favor of the City; and
• Provide thirty (30) calendar days advance written notice directly to City of any, cancellation, non-
renewal, material change or termination in coverage and not less than ten (10) calendar days
advance written notice for nonpayment of premium.
E. Within five (5) calendar days of a cancellation, non-renewal, material change or termination of
coverage, Depository shall provide a replacement Certificate of Insurance and applicable
endorsements to City. City shall have the option to suspend Depositor's performance should there
be a lapse in coverage at any time during this contract. Failure to provide and to maintain the
required insurance shall constitute a material breach of this contract.
F. In addition to any other remedies the City may have upon Depositor's failure to provide and
maintain any insurance or policy endorsements to the extent and within the time herein required,
the City shall have the right to order Depositor to stop work hereunder, and/or withhold any
payment(s) which become due to Depositor hereunder until Depositor demonstrates compliance
with the requirements hereof.
G. Nothing herein contained shall be construed as limiting in any way the extent to which Depositor
may be held responsible for payments of damages to persons or property resulting from
Depositor's or its subcontractor's performance of the work covered under this contract.
H. It is agreed that Depositor's insurance shall be deemed primary and non-contributory with respect
to any insurance or self-insurance carried by the City of Corpus Christi for liability arising out of
operations under this contract.
I. It is understood and agreed that the insurance required is in addition to and separate from any
other obligation contained in this contract.
2015 Insurance Requirements
Finance Department
Depository Services
10/21/2015 ds Risk Management
2.39 Right to Publish
Throughout the duration of the procurement process and resulting Contract term, potential Applicants and
Contractors must secure from the City written approval prior to the release of any information that
pertains to the potential work or activities covered by the RFA or the resulting Contract. Failure to adhere
to this requirement may result in disqualification of the Applicant's application or termination of the
Contract.
2.40 Applicant's Ethical Behavior
By submission of its application, the Applicant promises that Applicant's officers, employees, or agents
will not attempt to lobby or influence a vote or recommendation related to the Applicant's application
submitted in response to this RFA, directly or indirectly, through any contact with City Council members
or other City officials between the deadline for submission of applications and the date a contract
resulting herefrom is awarded by the City Council. Such behavior will be cause for rejection of the
Applicant's application at the discretion of the City Council.
2.41 Quantities
Quantities described herein are estimates and do not obligate the City to order or accept more than the
City's actual requirements during the term of any contract resulting herefrom. Nor do the estimates limit
the City from ordering less than its actual needs during the term of any contract resulting herefrom,
subject to availability of appropriated funds.
Section 3.0
Scope of Work
3.1 General Information
The City issues this RFA to eligible depository institutions to provide depository services for the City's
funds. Only those depository institutions doing business within the city limits of Corpus Christi, Texas
with full depository service capabilities as required in this RFA will be eligible to serve as the City's
depository ("Depository"). The City manages its own investment portfolio pursuant to its Investment
Policy, therefore, the Depository will not provide any investment transaction activities other than
safekeeping services such as receiving and delivering securities, coupon collections and maturity
collections.
3.2 Mandatory Service Requirements
This section identifies the mandatory requirements for the provision of depository services for the City's
funds. Additional required services and estimated monthly volumes are listed Section 3.6, Fee, A.,
MONTHLY PRICING SUMMARY FORM, of this RFA. The depository must be able to provide the
following required services and to maintain the following demand deposit accounts and any other
accounts which the City may establish.
A. CITY'S DEMAND DEPOSIT ACCOUNTS
The term "demand deposit account" means a deposit of funds that may be withdrawn on the demand
of the depositor. The City requires that the Depository provide depository services for the following
demand deposit accounts (Note! These are the current demand deposit accounts. The City reserves
the right to add or delete demand deposit accounts as and when required by its operational needs):
The City currently maintains the following accounts:
1. CC Community Improvement Corp. Coll,Non-Interest Bearing
2. City of Corpus Christi - Beach User Fees,Non-Interest Bearing
3. City of Corpus Christi - Airport PFC,Non-Interest Bearing
4. City of Corpus Christi - Combined Funds,Non-Interest Bearing
5. City of Corpus Christi -Home Project, Interest Bearing
6. CC Community Improvement Corp. Special, Interest Bearing
7. CC Community Improvement Corp., Interest Bearing
8. CC Housing Finance Corporation, Interest Bearing
9. City of Corpus Christi - Arena Operating,Non-Interest Bearing
10. City of Corpus Christi - Convention Center Operating Acct.,Non-Interest Bearing
11. City of Corpus Christi - Law Enforcement Special, Interest Bearing
12. City of Corpus Christi - Humana, Zero-Balance
13. City of Corpus Christi—Merchant Processing Account,Non-Interest Bearing
14. City of Corpus Christi - Payroll Fund, Zero-Balance
15. City of Corpus Christi - Vouchers Payable Account, Zero-Balance
(Note: A voucher number is created when a vendor's invoice is processed through the City's
Accounts Payable division. The voucher number is assigned to a check when the invoice is paid).
The City processes about 1,600 vendor checks per month.
16. City of Corpus Christi -Workers' Compensation, Zero-Balance
17. Museum Joint Venture Revenue,Non-Interest Bearing
18. Museum Joint Venture Operations Support,Non-Interest Bearing
19. City of Corpus Christi—US Consent Decree May 2013, Non-Interest Bearing
20. City of Corpus Christi—Risk Management, Zero-Balance
B. REQUIRED SERVICES
1. Internet Access Cash Management Services
The City requires that the Depository provide cash management services to the City via the
Internet. Any necessary software for these services, including, but not limited to: stop payments,
wire transfers, account balance and transaction information, positive pay, lockbox, and
transmission of ACH debit or credit transactions, will be furnished and be made available by the
Depository at no cost to the City.
2. Deposits
The Depository must accept all deposits made by the City during the term of the Depository
Services Agreement for deposit in the City Demand Deposit Accounts identified herein. At a
minimum, the City requires that the Depository accept City deposits for ledger credit until 3:00
p.m. Central Time (CT) each business day. The City reserves the right to exclude deposits made
on behalf of the Corpus Christi Fire Fighters' Retirement System and any other special funds
which are controlled by entities separate and apart from the City.
3. Items Deposited
All payments made directly to the City by customers will be sent to the bank un-encoded.
4. Automated Information Reporting
The City must be able to access via the Internet, for each City account, the previous day's ending
ledger balance, collected balance, float, and debit/credit detail by 8:00 a.m. CT daily. Current-
day balance and activity must be available by 12:00 noon CT. By this same deadline, this
information must be combined to reflect totals for all City accounts taken together.
5. Items Processing Service
The Depository must process all deposited items of checks and cash. Such processing services
include encoding services, credit and debit advices given to the City within three business days of
the debit or credit, clearing returned items, and return of stamped duplicate deposit slips to the
City within one business day of deposit. The City intends to make deposits in person, by courier
service, at night drop locations and at drive-thru locations. All deposits are safeguarded in tamper
evident bags unless personally delivered. The deposits will be made in batches with a tape to be
provided for each batch. If the Depository Item Processing Department discovers an error in the
deposit, then the Depository shall prepare a credit or debit advice and mail it to the City
immediately after the account has been adjusted with the appropriate documentation attached to
justify the correction. Appropriate documentation is considered to be a copy of the City's tape
with the item in question marked and a copy of the check in question.
6. Fine Sorting Required
Accounts that have more than 400 checks must be fine-sorted in numerical order by the
Depository.
7. Insufficient Funds (NSF)/Returned Items
A complete description is to be provided on all NSF/returned items deposited into City accounts.
The description should include the Payor's name, applicable City department, and reason for
return. All NSF/returned items must be charged back to the account to which the items were
deposited provided that the City department is identified by endorsement stamp or other readily
identifiable means on the item. The Depository will send the NSF/returned items to the office
designated by an Authorized City Representative.
8. Stop Payments
Stop payments placed through the Internet must remain in effect for at least six (6) months.
Placement of stop payments through the Internet does not require written authorization follow-up
by the City.
9. Automatic Payroll Deposit Services
By using a personal computer with Internet access, the City will electronically transmit City
employee payroll data to the Depository. The Depository will receive the data and prepare an
ACH debit so that the Depository payroll account will be debited no sooner than the date of
payroll. The 2016 Payroll Calendar is Attached as Exhibit A to the Depository Services
Agreement.
10. General Wire Transfer Services
a. Using Internet access, the City must be able to initiate general wire transfer services including
initiation of repetitive and non-repetitive wire transfers.
b. The Depository must act upon all Internet, electronic, written or verbal transfer requests within
one hour from the time received from an Authorized City Representative, and use any means for
the transmission of the funds the Depository may consider suitable up until 3:30 p.m. CT.
c. The Depository must record all telephonic instructions from the City received by the Depository's
wire transfer department and retain the recordings for sixty-one (61) days (the period for City
notification of discrepancies) following such requests.
d. In the event there is a loss of interest or use of funds as result of a Depository error for failure to
execute a transfer request on the date received, or such other error within the Depository's
control, compensation for loss must be corrected by adjusting the aggregate ledger and collected
balances of the City accounts to reflect properly the average balances of the amounts that would
have resulted had no error occurred.
11. Account Reconciliation Services
a. All depository statements and paid items must be on a monthly cycle and must be cutoff on the
last calendar day of the month. The depository statements must be available for pick-up via
electronic format no later than the fifth working day following the assigned cut-off date.
b. If a statement for a City depository account is not cut off as specified by the City, the City will
require that the Depository reimburse the City for the costs incurred to reconcile the statement,
including City employee overtime costs.
c. The City also requires that copies of cleared checks be available via Depository's website and
stored on a CD distributed to the City with the printed monthly statement.
12. Depository Reconcilements
Automated depository reconcilements are required for the Vouchers Payable and Payroll
accounts and other accounts as required by an Authorized City Representative as transaction
volumes increase. By using Internet access, the City will electronically transmit reconcilement
data to the Depository. Reconcilements must be available for pick up by the City by the ninth
working day following the date the data was transmitted to the Depository. "Add/delete"
adjustment forms will be provided by the Depository. The Depository will be required to
transmit reconcilement information to the administrators of the City's health care and worker's
compensation accounts and others as designated by the City.
13. Checking with Interest Accounts
If designated by an Authorized City Representative, a demand deposit account will be set up as
interest bearing and interest will be paid monthly. Interest rates will be those set for public fund
interest bearing accounts.
14. Controlled Disbursement Service
Specific accounts as designated by an Authorized City Representative will be controlled
disbursement accounts. The City must be able to access same-day information concerning
controlled disbursement clearings by 11:15 a.m. CT daily.
15. Zero-Balance Accounts
As designated by an Authorized City Representative, specific demand deposit accounts will be
zero-balance accounts for ease in reconciling and record keeping.
16. Check Cashing
On presentation and at no charge to the payee or the City, the Depository will pay all checks
drawn and properly payable on a City demand-deposit account.
17. Deposit Locations
The City will have the option to make Deposits at the Depository's main Corpus Christi office or
at any of Depository's Corpus Christi branches. A deposit ticket will be presented to the
Depository with each deposit. The Depository will route specified deposit ticket copies to the
City on a daily basis. The City processes between 80 and 120 individual deposits daily. These
deposits originate from about 25 different departments located throughout the City. Deposits will
be made in person, by courier service, at night-drop locations and at drive-thru locations.
18. Night Depository
The Depository must be able to provide night depository facilities for safekeeping purposes. The
City will use special tamper-evident deposit bags in making deposits through the night depository
facility. Each bag placed in the night depository facility will contain only currency, coin, and
checks. If it appears that a bag has been tampered with, the Depository must telephone an
Authorized City Representative. The Depository will mail the deposit slip or it may be picked up
by courier on a daily basis.
19. Escrow Accounts.
Periodically during the term of the Agreement, the City may require that an escrow account be
established at the Depository. The service fees charged for the escrow account must be the same
as the service fees charged to the City for its demand deposit accounts.
C. FUNDS TRANSFER REQUIREMENTS
1. Incoming wire transfers occur regularly. The Depository must give both ledger and collected
credit the day of the wire receipt, regardless of the time the Depository receives the transfer
through the Fed wire System. Credit to City accounts for incoming wire transfers must be
immediate.
2. The City actively invests in marketable securities. An outgoing wire transfer will be made in the
morning for the reinvestment of funds expected by an incoming wire transfer. The Depository
must allow the City to reinvest and to wire funds out in anticipation of an incoming wire transfer
later in the day. The anticipated amount of wire transfer is up to 20 million dollars.
3. The Depository must not charge the City for daylight overdrafts. When a daylight overdraft is
anticipated, an Authorized City Representative will notify the designated depository official of the
situation.
4. Notification to the City of incoming wire transfers or problems with outgoing wire transfers must
be made within one hour of the transaction. The City allows two authorized employees to initiate
repetitive transfers. All authorized employees must be issued a personal identification number in
order to initiate wire transactions. If the wire transfer is initiated over the telephone, the City will
require that the Depository telephone the City and specifically request to speak to an Authorized
City Representative other than the person initiating the wire to verify that the wire is authorized
prior to releasing it.
D. OVERDRAFT PROCESSING REQUIREMENTS
The City does not intend to have an overdraft position on any of its depository accounts throughout
the course of the Depository Services Agreement. In the event a check or checks presented for
payment on any City account where there exists insufficient funds available for payment, the City
will require the Depository to pay said checks and promptly notify an Authorized City Representative
of the existence of the overdraft situation. The City will cover the overdraft within one business day.
E. REQUIREMENTS FOR SECURITIES CLEARANCE AND SAFEKEEPING OF CITY
INVESTMENTS
1. Investment securities purchased by the City will be delivered by book entry to the Federal
Reserve. The purchase and sale of all securities will be on a delivery versus payment or payment
versus delivery basis (i.e. for securities purchases, monies will not be released by the City's
safekeeping bank until securities are received at the Federal Reserve Bank or further credit to the
City's safekeeping bank. In the case of securities sales, monies will be received by the City's
safekeeping bank via the Federal Reserve Bank as the securities are simultaneously released to
the purchaser). In this manner, the City will always have possession of either the securities or its
monies.
2. The City will send written instructions to the securities clearance department for each transaction.
When a City security matures, or when a City security is purchased, funds will be transferred
from or to the Combined Operating account or another account as directed by an Authorized City
Representative. Most of these instructions will be sent by facsimile to assure the timeliness of the
operation. The City expects the Depository to give prompt notification of any settlement
problems, including securities delivered where the instructions do not match or where
instructions have not been given to the Depository.
3. All securities must be perfected in the name of the City. A safekeeping receipt issued to the City
must evidence all book entry securities owned by the City. The original safekeeping receipt for
each transaction will be forwarded to the City.
4. The following is the City's sample Investment Portfolio as of June 30, 2015. The depository
must use this data to calculate safekeeping fees on an annual basis. The depository must record
the safekeeping fee calculation in the Safekeeping and Securities Clearance section of the
MONTHLY PRICING SUMMARY FORM found in Section 3.6, Fee Schedule, A. of this RFA.
CITY OF CORPUS CHRISTI
CASH MANAGEMENT SECTION
INVESTMENT PORTFOLIO
AS OF 06/30/2015
CUSIP Issuer Purchase Term Par Value Current Maturity Market Value Book Value Unrealized
Date Rate Date Gain(Loss
TEXPOOL0035 Texpool 6/30/2015 1 129,824,359.55 0.058 7/1/2015 129,824,359.55 129,824,359.55 -
TEXSTAR1040 Texstar 6/30/2015 1 1,301,272.24 0.072 7/112015 1,301,272.24 1,301272.24 -
TEXSTAR1111 Texstar 6/30/2015 1 114,360254.01 0.072 7/1/2015 114,360,254.01 114,360,254.01 -
WFMM4816 Wells Fargo 6/30/2015 1 104,051,281.44 0.050 7/112015 104,051,281.44 104,051,281.44 -
BNY1586 Bank of New York Mellon 6/30/2015 1 5,68723929 0.000 7/1/2015 5,68723929 5,68723929 -
BNY1609 Bank of New York Mellon 6/30/2015 1 1,500,000.00 0.000 7/1/2015 1,500,000.00 1,500,000.00 -
3133EDC59 Federal Farm Credit Bank 12/19/2013 608 10,000,000.00 0250 08/19/2015 0,001,680.00 13,000,000.00 1,680.00
3133ED4A7 Federal Farm Credit Bank 10/07/2013 730 10,000,000.00 0.375 10/07/2015 13,006,180.00 13,000,000.00 6,180.00
3130A3ZB3 Federal Home Loan Bank 01/28/2015 273 10,000,000.00 0.180 10/28/2015 '0,000,170.00 '0,000,000.00 170.00
3A3EDB84 Federal Farm Credit Bank 12/03/2013 730 '0,000,000.00 0.300 12/03/2015 '0,004,610.00 '0,000,000.00 4,612.00
3130A24D5 Federal Home Loan Bank 05/29/2014 568 13,000,000.00 0230 12/18/2015 10,001,190.00 '0,000,000.00 1,190.00
3130A 3Z49 Federal Home Loan Bank 0127/2015 365 '0,000,000.00 0250 01/27/2016 13,001,400.00 9,999,232.65 2,167.35
3130A3ZS6 Federal Home Loan Bank 01/29/2015 365 13,000,000.00 0250 0129/2016 9,999,460.00 9,999,517.15 (57.15)
3130A5RD3 Federal Home Loan Bank 6/30/2015 216 9,000,000.00 0200 2/12016 8,996,760.00 9,000,000.00 (3240.00)
3130A5CA5 Federal Home Loan Bank 5/7/2015 277 10,000,000.00 0.213 2/8/2016 9,996,530.00 '0,000,000.00 (3,470.00)
3133EDM D1 Federal Farm Credit Bank 05/29/2014 638 '0,000,000.00 0.300 02/26/2016 9,998,530.00 9,998,500.80 2920
3130A3ZV9 Federal Home Loan Bank 02/04/2015 387 '0,000,000.00 0.300 02/26/2016 9,998,230.00 '0,000,000.00 (1,770.00)
3130A3ZV9 Federal Home Loan Bank 02/04/205 387 13,000,000.00 0.300 02/26/2016 9,998230.00 13,000,000.00 (1,770.00)
3130A5AU3 Federal Home Loan Bank 5/15/2015 350 13,000,000.00 0250 4/29/2016 9,994,180.00 9,995,867.85 (1,687.85)
3130A5EJ4 Federal Home Loan Bank 5/18/2015 366 '0,000,000.00 0250 5/18/2016 9,986,020.00 9,994,728.92 (8,708.92)
3130A5F38 Federal Home Loan Bank 5/26/2015 359 10,000,000.00 0250 5/19/2016 9,989,800.00 9,995,592.77 (5,792.77)
3130A5FP9 Federal Home Loan Bank 5/26/2015 366 '0,000,000.00 0250 5/26/2016 9,985,950.00 9,993239.19 (7289.19)
3120A5E47 Federal Home Loan Bank 5/29/2015 363 '0,000,000.00 0.300 5/26/2016 9,99323000 9,999,729.60 (6,499.60)
3133EDM66 Federal Farm Credit Bank 5/27/2014 731 '0,000,000.00 0.390 5/27/2016 9,992,710.00 '0,000,000.00 (7290.00)
3130A5CK3 Federal Home Loan Bank 5/27/2015 366 '0,000,000.00 0.400 5/27/2016 9,998,50000 '0,000,000.00 (1,500.00)
3130A5K57 Federal Home Loan Bank 6/4/2015 392 '0,000,000.00 0.330 6/30/2016 '0,015,840.00 9,998,509.87 17,330.A
3130A5K57 Federal Home Loan Bank 6/4/2015 392 10,000,000.00 0.330 6/30/2016 13,015,840.00 9,999,007.05 16,832.95
3134G6AA1 Federal Home Loan Mtg Corp 01/30/2015 731 '0,000,000.00 0.700 01(30/2017 9,999,920.00 9,998,024.31 1,895.69
3134G6AA1 Federal Home Loan Mtg Corp 01/30/2015 731 10,000,000.00 0.700 01/30/2017 9,999,920.00 9,996,443.75 3,476.25
3134G6AA1 Federal Home Loan Mtg Corp 01/30/2015 731 10,000,000.00 0.700 0130/2017 9,999,920.00 9,999,604.86 315.14
3134G6AA1 Federal Home Loan Mfg Corp 0130/2015 731 10,000,000.00 0.700 01/30/2017 9,999,920.00 '0,000,000.00 (80.00)
3134G6AN3 Federal Home Loan Mfg Corp 02/13/205 731 10,000,000.00 0.750 02/13/2017 9,995,830.00 '0,000,000.00 (4,170.00)
3134G6BQ5 Federal Home Loan Mtg Corp 02/13/205 731 13,000,000.00 0.750 02/13/2017 10,003,650.00 '0,000,000.00 3,650.00
3134G6CJ0 Federal Home Loan Mtg Corp 02/13/205 731 10,000,000.00 0.800 02/13/2017 '0,006,810.00 13,000,000.00 6,810.00
3130A5GJ2 Federal Home Loan Bank 5/28/2015 701 10,000,000.00 0.720 4/28/2017 9,995,113.00 '0,000,000.00 (4,890.00)
3134G6YQ0 Federal Home Loan M tg Corp 5/26/205 731 10,000,000.00 0.800 5/26/2017 '0,002,190.00 '0,000,000.00 2,190.00
3134G6E82 Federal Home Loan Mtg Corp 5/26/205 731 13,000,000.00 0.850 5/26/2017 9,986,470.00 '0,000,000.00 (13,530.00)
3134G6022 Federal Home Loan Mfg Corp 6/30/2015 731 13,000,000.00 0.875 6/30/2017 10,005,810.00 '0,000,000.00 5,813.00
3134G6X73 Federal Home Loan Mfg Corp 5/29/205 728 '0,000,000.00 0.820 5/26/2017 9,988,440.00 '0,000,000.00 (11,560.00)
3134G7AY7 Federal Home Loan Mtg Corp 6/29/205 731 20,000,000.00 1000 6/29/2017 20,007,480.00 20,000,000.00 7,480.00
3134G7DR9 Federal Home Loan Mtg Corp 6/30/2015 724 5,000,000.00 0.800 6/23/2017 4,998,600.00 5,000,000.00 (1,400.00)
Total 710,724,406.53 710,689,516.53 710,692,405.30 (2,888.77)
. COLLATERAL REQUIREMENTS
1. Background
a. As security for the City's deposits, the Depository must pledge to the City securities equal to the
largest total ledger balances the City maintains in the Depository, less the amount of coverage
provided by the Federal Deposit Insurance Corporation.
b. All funds deposited under the Depository Services Agreement must be continuously secured in
accordance with applicable federal laws and regulations as well as the laws of the State of Texas,
including but not limited to Subchapter C, Security for Funds Held by Depository of Chapter 105,
Depositories for Municipal Funds, of the Texas Local Government Code, Chapter 2257, Public Funds
Collateral Act, Government Code, and this RFA.
2. Qualification as Depository
The Depository will be required to, no later than five days before the commencement of the term of the
Depository Services Agreement, pledge security for the funds to be deposited by the City at the
Depository as provided in Subchapter C, Security for Funds Held by Depository of Chapter 105,
Depositories for Municipal Funds of the Texas Local Government Code, Chapter 2257, Public Funds
Collateral Act, Government Code, and this RFA.
3. Permissible security
Only the following types of securities are acceptable to the City to secure City deposits:
(a) A treasury note of the United States or other evidence of indebtedness of the United States that is
guaranteed as to principal and interest by the United States.
(b) An obligation of an agency of the United States, provided that (i) the market value can be readily
established, and(ii) the obligation has been approved by an Authorized City Representative.
4. Custodian of Pledged Securities
The securities pledged by the Depository as collateral must be deposited with a branch of the Federal
Reserve Bank, ("the Custodian"), in escrow in a safekeeping account held in the name of the City. The
custodian account must require the authorization of both the Depository and an Authorized City
Representative to release pledged collateral. The Custodian, upon receipt of pledged securities, must
promptly issue and deliver to the Authorized City Representative trust receipts for the securities pledged.
The securities must be held by the Custodian and the Custodian may not transfer or deposit the securities
in another institution.
5. Amount of Collateral
1. Securities pledged by the Depository to secure City funds on deposit identified with federal taxpayer
identification number 74-6000574 must have a market value of at least Thirty million dollars
($30,000,000) or as designated in writing by an Authorized City Representative. During the City's
tax season, which occurs from October through March, the Depository must provide additional
collateral as required by an Authorized City Representative.
2. Securities pledged by the Depository to secure City funds identified with federal taxpayer
identification number 74-2442464 must have a market value of at least four million dollars
($4,000,000) or as designated in writing by an Authorized City Representative. The market value of a
security is to be determined by an Authorized City Representative from a third party source (e.g.
Primary dealer, Wall Street Journal) and is binding on the Depository.
6. Federally Insured Deposits
The Depository is not required to provide security for the deposit of City funds to the extent deposits are
insured under 12 U.S.C.A., Sections 1811-1835a.
7. Additional Security
An Authorized City Representative may, by written order, require the Depository to pledge additional
collateral at any time it is determined to be advisable. If, for any reason, the total City balance on deposit
with the Depository exceeds the market value of pledged security, the Depository must immediately
pledge additional securities to the City. Any additional security pledged must meet the requirements of
this RFA and must be approved by an Authorized City Representative. Failure to pledge additional
securities on the day the Depository is provided written notice constitutes grounds for City Council to
select a new depository as required by law and terminate the Depository Services Agreement. On the
same day that notice to pledge additional securities is received by the Depository, the Depository must
execute and deliver a Supplemental Pledge Agreement in form acceptable to the City to evidence any
additions of collateral pledged to secure the deposits of the City. The Supplemental Pledge Agreement
must also be placed and continuously maintained in the official records of the Depository.
8. Substitution of Securities
The Depository may substitute one security for another provided that the security meets the requirements
of this RFA and provided that an Authorized City Representative approves the substitution, in writing.
Prior to such substitution, the Depository must execute and deliver a Supplemental Pledge Agreement in
form acceptable to the City to evidence any substitutions of collateral pledged to secure the deposits of the
City. The Supplemental Pledge Agreement must be placed and continuously maintained in the official
records of the Depository.
9. Release of Security
If the securities pledged by the Depository exceed the amount required under this RFA, an Authorized
City Representative may authorize the release of the excess. An Authorized City Representative must
approve such release in writing.
10. Records and Audit
The Depository must maintain separate, accurate, and complete records relating to the deposit of public
funds, the pledged investment securities, and all transactions relating to the pledged investment securities.
The Custodian must maintain separate, accurate, and complete records regarding the pledged investment
securities. All such records will be subject to any internal or external audit or regulatory examination of
the Depository or Custodian, such audit or examination to ascertain whether the records and pledged
investment securities are in compliance with the Public Funds Collateral Act, Chapter 2257, Government
Code.
11. Documentation to be Provided to City
The Depository and/or Custodian must provide documentation relating to the description of securities
pledged as collateral, substitution of pledged securities, pledge of additional securities, and withdrawal of
excess securities to the Authorized City Representative. A certificate as to the then market value of
securities pledged as security hereunder must be provided to the Authorized City Representative at least
monthly.
12. Collateral Provision of Financial Institution Reform, Recovery and Enforcement Act(FIRREA)
The Depository must provide certification that the Depository has complied with all requirements of the
Financial Institution Reform, Recovery and Enforcement Act (FIRREA) and FDIC policies which may
apply to the City's security interests in the pledged collateral and must specify the officers of the
Depository who are authorized to sign agreements with the City. Prior to the initial pledge of securities
under the Depository Services Agreement, the City will require that the Depository: (a) execute a
Security Agreement - Pledge and ancillary agreements necessary to effect the pledge of securities to
collateralize all of the City's deposits in such form as is acceptable to the City; (b) deliver to the City a
certified copy of excerpts from the minutes of a meeting of the Loan Committee and/or Board of
Directors of the Depository, properly authorizing the Depository to enter into a Security Agreement-
Pledge, and to pledge assets of the Depository to secure all deposits made by the City with the
Depository; and (c) deliver to the City certification that the Depository Agreement, the Security
Agreement - Pledge, and the authorization of the Board of Directors and/or the Loan Committee of the
Depository have been placed (and will continuously be maintained) in the official records of the
Depository.
r. SERVICE FEE REQUIREMENTS
1. The City desires an equitable reimbursement arrangement for the depository services provided. A direct
fee basis for services provided by the Depository with an offsetting earnings credit for available balances
is the method required by the City. This process requires the monthly calculation of a net depository
service cost. The Depository will calculate the total monthly service costs for all accounts and the total
monthly earnings credit for all accounts on the account analysis statement. The net of total service costs
and total earnings credits equals net banking service costs for the month. Earnings credit must be given
to the City for all account balances grouped together and not for single account balances.
2. A written invoice evidencing the fees for services must be provided to the City at the end of each month
for each account. This invoice must also contain a section summarizing the fees for services for all
accounts. The City will have five working days to confirm the services performed prior to authorization
of the debit advice(s). The Depository will not debit a City depository account for service fees until the
Depository and the City agree that the fees are correct. Fees will be allocated among accounts as
designated by an Authorized City Representative. For a listing of the current Authorized City
Representatives, see Exhibit A to the Depository Services Agreement attached hereto.
OTHER REQUIREMENTS
1. The Depository must notify the City in writing within ten (10) days of any changes in federal or state
regulations or laws that would thereafter affect the Depository Services Agreement. The Depository
must also notify the City of any services, which become available to the City throughout the Agreement
period.
2. The Depository's records relating to the City's accounts must be open to review by either City staff
members or City-appointed independent auditors during normal business hours.
3. The successful Depository must provide to the City each quarterly CALL report (Schedule RC only) as
well as any public information concerning changes in the ownership, management or financial position
of the Depository or its parent company.
4. To the extent that the Depository Services Agreement is not governed by applicable federal laws and
regulations, the Depository Services Agreement will be governed by and construed in accordance with
laws of the State of Texas. Any suit brought in connection with the Depository Services Agreement
must be tried in Nueces County, Texas.
5. Until deposits are credited to the City as evidenced by validation of duplicate deposit slips, the
relationship between the City and the Depository as to all contents must be that of Bailor and Bailee.
The Depository will be responsible and liable to the City for that same degree of care required under the
laws of Texas for Bailees having custody of property of other persons.
6. The Depository must be a participating bank in the Southwestern Automated Clearing House Association
to be able to deliver debit and credit payments.
7. The Depository must assign one of its officers employed by the Depository in Corpus Christi to
coordinate the depository relationship established under the Depository Services Agreement. The
depository officer is responsible for responding to questions from an Authorized City Representative
concerning the performance of depository services. The City may require a review meeting with the
depository officer at least once every month to evaluate the working relationship between the City and
the Depository and to address any problems.
8. The City will provide the Depository with a Corporate Resolution at the commencement of the contract
term. Thereafter, the Depository will not require additional corporate resolutions when an Authorized
City Representative opens a new account.
9. Lockbox services. The Depository must provide lockbox services to process customer payments. This
includes sorting and reading customer checks and payment coupons as well as creating an image
electronically of the paper items. Additionally, the City requires the lockbox contractor to send an
updated file of all payments received on accounts by 7:00 a.m. CT for review and validation of payment.
City utility payments are processed through a lockbox. The payment envelope includes the check or
money order along with a barcoded payment stub. The lockbox location will have to be able to read the
barcode as well as scan the check information. The Depository will send a daily data file to the City's
utility software and interface the payment information. Scanned information must be made available on
the Depository's web site.
10. The City electronically transmits data to the Depository regarding those City Utility, Marina, and Misc.
Accounts Receivable customers who have previously authorized the City to automatically debit their
demand deposit accounts for their City bills. The Depository must be able to provide this direct debit
service.
3.3 Technical Solution
A. The City expects the best availability of funds provided to the Depository's institutional clients.
Please attach the depository's availability schedule and an explanation of funds credit. The City
recognizes that only collected funds may be used as available balances for investment purposes.
The anticipated amount of balances the City will maintain in both non-interest and interest bearing
accounts is up to 35 million dollars. List any ways the City could periodically improve availability
of funds. List all time deadlines clearly.
B. At a minimum, the City requires that the Depository accept City deposits for ledger credit until 3:00
p.m. CT each business day. List the cut-off time for accepting deposits for same-day credit.
C. Please describe your depository's ability to sufficiently and continuously collateralize City deposits.
Enumerate the types of securities, which you propose to pledge. Describe reporting methods and
steps, if any, which would be employed to detect deficiencies in collateral position.
D. Please describe your securities clearance and safekeeping procedures. Please explain the method
your depository uses to calculate safekeeping and securities clearance fees.
E. Please provide a detailed explanation of the depository's policy and methodology used in the setting
of the earnings credit rate. Provide a schedule of the earnings credit rates offered by the depository
since January 1, 2015.
F. Does the depository offer a fixed rate of interest if the City agrees to maintain a specified collected
balance? If so, please provide the appropriate information.
G. List minimum ledger and collected balances required to earn interest.
H. List the interest rates currently paid on interest bearing accounts.
I. What back-up arrangements for check processing exist in case of system failures?
J. What is your contingency plan in case of a natural disaster? What provisions will be made for the
City to continue operations after a disaster occurs (i.e., utilization of other branches in other cities,
etc.)?
K. In order to fund check presentments and manage the City's depository accounts and investments,
controlled disbursement services are required. Please describe the controlled disbursement services
available. Where are the disbursing depositories located? How much time delay should the City
expect in utilizing this service?
L. In order to fund check presentments and manage the City's depository accounts and investments,
check presentment totals must be made known to the City no later than 11:15 a.m. CT. Notification
after this time may result in the City not being able to adequately fund checks. If an overdraft
occurs due to a late notification by the depository, the City will not be charged any overdraft
charges. How many times has the depository missed notification deadlines and by how much within
the one-year period ending December 31, 2014? (Note: This refers to Control Disbursement. All
check presentments must be reported on a real-time basis.)
M. Please describe the Account Reconcilement Service offered by the depository and attach a sample
reconcilement statement.
N. Does the depository have an established maximum dollar value limit, which may not be exceeded by
an individual check or wire transfer? Are there any other restrictions regarding individual checking
amounts?
0. The City requires that its Depository offer automated stop payment service. At a minimum, stop
payments must remain in effect for at least six (6) months. How long are stop payment orders
effective? When does the stop payment order take effect?
P. Direct deposit of payroll is a service the City offers its employees. Approximately 2,917 employees
or 99% are set up for automated payroll deposit. The City will require that the payroll transfers
occur electronically, directly to the employee's depository account. Please provide cut-off times and
other appropriate information.
Q. Provide a sample depository statement for a demand deposit account.
R. Provide information on positive pay.
S. Provide an availability of funds schedule with a clear explanation of deadlines.
T. Provide a sample monthly pledged collateral report.
U. Provide an explanation of basis for money market rates.
V. Provide a copy of your organization's most recent annual financial statement.
W. Please describe the process by which service problems are to be resolved. What person or
organizational unit is available for complaint or problem resolution?
X. The City of Corpus Christi frequently initiates time sensitive wire transfers which must be received
by the beneficiary by a certain time of day, such as 10:00 a.m. CT. Please describe the depository's
daylight overdraft policy with respect to such transfers where the funding for the transfer has not yet
been credited. What is the depository's internal review and approval process for releasing such
transfers?
Y. Describe any other cash management or depository services that could be offered to the City. List
all charges, which would apply.
Z. The City requires that the Depository have a successful history of providing electronic cash
management services. What electronic cash management services are currently provided? How
long has the depository provided each of these services?
AA. Please specify days on which the disbursement depository would be closed or would not receive
cash letters.
BB. Describe CD-ROM or other media resources available to replace original canceled checks.
CC. The City electronically transmits data via computer terminal to the Depository regarding those City
Utility, Marina, and Misc. Accounts Receivable customers who have previously authorized the City
to automatically debit their demand deposit accounts for City bills. Please state the procedure for
this service and list appropriate cut-off times, which will apply.
DD. The City currently uses a lockbox to process approximately 23,000 payments per month. Please list
all charges associated with processing payments through a lockbox arrangement.
EE. What type of services do you currently have in place to keep clients updated on new products and
changes in banking legislation?
FF. What is the physical location of the lockbox that will service the City's account?
GG. What is the latest daily pick up time to retrieve utility payments from the lockbox as designated by
the Applicant in Section 3.3, FF of this RFA?
HH. What is the average mail time from Corpus Christi to the lockbox location?
II. Please provide a bank calendar for 2016.
JJ. What payment processing solutions do you have to handle billpay checks received without a
remittance?
3.4 Applicant's Profile and Qualifications
A. Official legal name, manner in which your organization is organized (e.g. sole proprietor, partnership,
corporation, etc.) and a brief history of your organization including the date established.
B. Detail the key personnel in your local office. State the location of the office from which the work is to
be done and the key personnel in that office. Provide resumes for all key personnel listed.
C. List the hours of operation and locations of all branches of the Depository located within the city
limits of Corpus Christi, Texas. A vault within the city limits of Corpus Christi is required.
D. Provide the location of all branches of the Depository, which can serve as the City's night depository
facility.
E. In the last five years, has the City terminated any agreement with your organization, either for or not
for cause, breach or default?
F. Has the Depository or its parent company had any problems noted by regulatory agencies in the past
24 months? If"yes", please explain.
G. Is your organization currently involved in litigation with the City or, in the last five years, has your
organization been involved in litigation with the City? If so, please provide cause numbers, dates and
final disposition of each.
H. What is the address, city and state where your organization is headquartered?
I. The City requires a Depository that is fiscally strong. Thus each depository institution applying to
become the City's Depository must complete the following Depository Credit Evaluation Form
relative to your organization:
DEPOSITORY CREDIT EVALUATION FORM
ASSET QUALITY RATIOS YEAR ENDING YEAR-TO-DATE
2014 2015
Equity to asset ratio
Reserves as % of total loans
Non-performing loans to total loans
Current loan loss to total loss
Loan loss reserves to total loans
CAPITAL ADEQUACY INDICATORS
Total capital and surplus
Capital to loans
Capital to total assets
PROFITABILITY INDICATORS
Return on Assets
Return on Equity
Net Interest Margin
LIQUIDITY RATIOS
Loans to Deposits
Gross loans to total assets
Problem loans to primary capital
Liquid assets to total assets
J. Describe the qualifications, services or other information unique to your company for the delivery of
services requested.
K. Using the format outlined below, the Applicant should provide five current GOVERNMENTAL
Client references in Corpus Christi, Texas (organizations to which you have provided services for at
least one year) and three former GOVERNMENTAL client references in Corpus Christi, Texas.
References should be relative to the Applicant's office that will provide DEPOSITORY SERVICES
to the City. This information will be used to determine the extent to which the Applicant is able to
provide DEPOSITORY SERVICES to an entity the size of the City of Corpus Christi as well as the
level of customer service exhibited by the Applicant.
CURRENT GOVERNMENTAL Client Reference 1
Organization name: Contact and title:
Address: Phone number:
Effective date of contract: Description of services provided:
CURRENT GOVERNMENTAL Client Reference 2
Organization name: Contact and title:
Address: Phone number:
Effective date of contract: Description of services provided:
CURRENT GOVERNMENTAL Client Reference 3
Organization name: Contact and title:
Address: Phone number:
Effective date of contract: Description of services provided:
1
CURRENT GOVERNMENTAL Client Reference 4
Organization name: Contact and title:
Address: Phone number:
Effective date of contract: Description of services provided:
CURRENT GOVERNMENTAL Client Reference 5
Organization name: Contact and title:
Address: Phone number:
Effective date of contract: Description of services provided:
THIS SECTION INTENTIONALLY LEFT BLANK
FORMER GOVERNMENTAL Client Reference 1
Organization name: Contact and title:
Address: Phone number:
Effective date of contract:
Description of services provided: Reason for termination:
FORMER GOVERNMENTAL Client Reference 2
Organization name: Contact and title:
•
Address: Phone number:
Effective date of contract:
Description of services provided: Reason for termination:
FORMER GOVERNMENTAL Client Reference 3
Organization name: Contact and title:
Address: Phone number:
Effective date of contract:
Description of services provided: Reason for termination:
FORMER GOVERNMENTAL Client Reference 4
Organization name: Contact and title:
Address: Phone number:
Effective date of contract:
Description of services provided: Reason for termination:
FORMER GOVERNMENTAL Client Reference 5
Organization name: Contact and title:
Address: Phone number:
Effective date of contract:
Description of services provided: Reason for termination:
3.5 Local Presence
Please provide addresses of locations within the City limits.
3.6 Fee Schedule
The attached Excel file named Monthly Pricing Summary Form must be completed. By submission of its
application, prices must be guaranteed for the initial term of the Depository Services Agreement as well
as any option years. Submission of an Incomplete Monthly Pricing Summary Form shall be grounds for
rejection of the entire application.
Section 4.0
Application Format and Organization
This section provides specific instructions on format and organization of the application to be submitted
by the Applicant. Each Applicant may submit only one application in a totally self-supporting format
without reference to any other application(s).
4.1 General Instructions
A. To provide for ease and uniformity and to aid in the evaluation of applications, Applicants shall
comply with the sequence outlined herein. IN NUMBERING APPLICATIONS, THE
APPLICANT SHALL USE THE SAME SECTION NUMBERS AND TITLES
AND SHALL PROVIDE ITS RESPONSES IN THE SAME ORDER AS EACH
QUESTION IS NUMBERED AND ORDERED HEREIN. Failure to comply may result
in rejection of the application. The application shall be completed in sections, which are described
below.
B. Applicant should be aware that all technical and operational specifications, equipment descriptions
and marketing material submitted or made available will be incorporated by reference into any
contract(s) resulting herefrom. The City discourages the inclusion of general marketing material or
equipment manuals unless they are used to provide specific information or specifically requested by
the City.
4.2 Application Format
A. This section outlines the minimum requirements for preparation and presentation of an application.
B. The Applicant shall define the capabilities of their organization to supply and maintain the
services as requested in this RFA. The response should be specific and complete in every detail
and prepared in a simple and straightforward manner.
C. Applicants are expected to examine the entire RFA including all specifications, standard provisions,
instructions and attachments. Failure to do so will be at the Applicant's risk. Applicants should
. provide their best pricing for each type of service set out herein.
4.3 Transmittal Letter
A. The transmittal letter shall be the first item in your application and shall indicate the intention of the
Applicant to adhere to the provisions described in the RFA. The transmittal letter MUST:
1. Be presented on company letterhead;
2. Identify the submitting organization;
3. Acknowledge receipt of any addenda to this RFA;
4. Identify, by name and title, and be signed by the person authorized by the organization to
obligate the organization contractually
B. The second item in the application must be a Table of Contents listing titles, sections and
major sub-sections. All pages shall have a unique identifier and be numbered sequentially.
C. The third item in the applications must be the City of Corpus Christi's Disclosure of Interest.
D. The fourth item in the application must be the City of Corpus Christi's Business Designation
Form.
E. The fifth item in the application must be your actual proposal and associated documents,
including the completed Excel file named Monthly Pricing Summary Form.
4.4 Service Agreement
A sample SERVICE AGREEMENT is attached hereto that the successful Applicant will be required to
sign. With the exception of certain terms and conditions which may be modified by mutual agreement
between the City and the Applicant prior to final execution of the Contract, the final SERVICE
AGREEMENT will conform to the SERVICE AGREEMENT included in this RFA.
THIS SECTION INTENTIONALLY LEFT BLANK
Section 5.0
Application Evaluation
5.1 Evaluation Committee
An Evaluation Committee ("Committee") will be established to assist the City Treasurer in the selection
of a qualified Applicant. The Committee will determine the responsiveness and acceptability of each
application. The Committee will then engage in a detailed review of each application to evaluate the
response in relation to the five (5) major evaluation factors identified in Section 5.2.
5.2 Evaluation Criteria
A. The application evaluation and selection process will be based on the following criteria: 1) Technical
Solution, 2) Applicant's Profile & Qualifications, 3) Local Presence, 4) Fee Schedule and 5)
Exceptions. The final weight assigned to each of these parameters will be determined by the
Evaluation Committee and will be within the ranges for each criterion as indicated below. Some of
the criteria contained within this model may look similar to the following Proposed Evaluation Model.
Each Applicant shall provide detailed responses including reference to any existing "in-house"
procedures, policies, etc. as they reference all requirements of this RFA. In determining most
advantageous and best value to the City, the Evaluation Committee will evaluate the entire
application, including, but not limited to, the criteria enumerated in Sections 3.3, 3.4, 3.5 and 3.6
of this RFA and any exceptions taken.
Technical Applicant's Local Fee Exceptions Total
Solution Profile& Presence Schedule
Qualifications (Exceptions
(Section 3.3) (Section 3.4) (Section 3.5) (Section 3.6) Form)
10-20% 15-25 % 5-10% 40-50% 5-10% 100%
B. The Evaluation Committee shall determine the final percentage assigned to each proposed evaluation
criterion. In no case shall the percentage assigned to each criterion be smaller or greater than the stated
minimum or maximum, respectively. The sum of the final percentages for all criteria shall equal
100%.
C. The Applicant's failure to provide information relative to the above criteria may result in the City
deeming such application non-responsive and may, at the discretion of the Committee, as defined in
the paragraphs above, result in elimination of said application from further consideration. The
Committee reserves the right to conduct other evaluation and measurements of the applications as may
be necessary to make an informed decision.
EXCEPTIONS
Applicant:
Document Exceptions
Applicant shall clearly state the exception and the reason for taking exception. Applicant shall describe
each item and state clearly any price consequences.
Important Note: The Applicant must complete this form. If the Applicant has no objection or exception,
the Applicant must indicate"NONE"on this page.
Applicant's Authorized Signature:
Name of Applicant's Authorized Representative:
(Print)
Telephone Number(_ )_ - — — — — Date: / /
EXHIBIT D
Exhibit D —Applicant's/Depository's Response to Request for Applications Event No.: 87
(Upon Request)