RFP - For Banking Services #16340

The Gulfport Redevelopment Commission, the urban renewal agency of the City of Gulfport, Mississippi (the “GRC”) is soliciting bids for a primary banking relationship with a major bank that operates a branch within the city limits of Gulfport, Mississippi. The bank must comply with all applicable rules and regulations in the revised Code of the State of Mississippi. The GRC intends to enter a contract for services with the successful proposer for a period, effective August 15, 2024 until December 31, 2028. The services required and the estimated volumes are outlined below. The agreement may be cancelled by mutual agreement with ninety (90) day notice of either party. Any financial institutional whose accounts are insured by the FDIC or any successors to that insurance corporation may qualify as a GRC depository, if the institution qualifies as a public funds depository under Mississippi Code Annotated § 27-105-05 or a public funds guaranty pool member under Section 27-105-5 and 27-105-6. The qualified financial institution shall secure those deposits by placing qualified securities on deposit with the State Treasurer of Mississippi as proved in MCA Section 27-105.5.

Any financial institution not meeting the prescribed ration requirement whose accounts are insured by the FDIC or any successors to that insurance corporation, may receive GRC funds in an amount not exceeding the amount that is insured by that insurance corporation and may qualify as a GRC depository to the extent of that insurance. The GRC currently uses four checking accounts, but that may change if desired or required by the GRC. The GRC requires a monthly statement and the availability of wire transfers and daily information on collected, available and closing balances. NSF checks will be processed twice before being returned to the GRC. We require no bank fees and no charge on returned checks or deposits. The bank must have positive pay for a limited number of accounts. Online access to daily banking activity for these accounts must be provided. Other services may be required during the term of the agreement.

All accounts are to be interest bearing accounts unless otherwise noted. Please quote rate structure for a fixed interest. During the term of the agreement, the GRC may need access to upload ACH files.

BID PROCEDURE

Institutions wishing to make proposals to the GRC for banking services must complete a Municipality Bid Proposal Form which may be obtained in the Purchasing Department at 1410 24th Avenue, Gulfport, Mississippi, 39501 or by email request to Jessica Versiga at jversiga@gulfport- ms.gov. Bids must be received in the Purchasing Department at 1410 24th Avenue, Gulfport, Mississippi, 39501
no later than 10:00 A.M. on Monday, August 12, 2024. Bids must be returned in a sealed envelope clearly marked, “GRC DEPOSITORY BIDS”. In the sealed envelope shall be one signed copy of the Municipal Bid Proposal Form. Bids will be evaluated on the responsiveness as required in the specifications, lowest net cost to the GRC and expected convenience of banking services for the personnel involved. The contract is intended to be offered to the bank proposing the most favorable combination of cost and services as determined at the sole discretion of the

GRC and its Board of Commissioners. The GRC may reject all proposals. Determination of qualification is solely at the discretion of the GRC. No promise to contract under any set of conditions is intended to be made or implied herein by the GRC.

Questions – all questions shall be directed to Jessica Versiga in writing via email at jversiga@gulfport-ms.gov by 10:00 AM local time on August 5, 2024. No other questions will be considered.

Advertise on 7/17/2024 and 7/24/2024