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Title:
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Five-Year Term Contract with Five Years of Renewal Options for Banking Services (Service Group 3 - Institutional Custody) for the Financial Services Department (Citywide)
The City makes extensive use of banking services to collect, disburse, and manage its cash and investments. Institutional custody services represent the safekeeping of the assets/securities in the City’s investment portfolio.
An evaluation committee recommends awarding the contract to the highest-scored proposal from U.S. Bank National Association, dba U.S. Bank, at $25,000 annually, with an annual increase allowance of up to 5%, or the adjusted Consumer Price Index.
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