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RFA 210 -006 <br />the adviser. The successful applicant will be required to provide book -entry <br />safekeeping services through the financial institution or a correspondent. All securities <br />will be cleared on a delivery versus payment ( "DVP ") basis and ownership documented <br />by original safe - keeping receipts. All interest payments and maturities will receive <br />automated same day collected credit on the City designated account without requiring <br />any additional City action. <br />All City investments are made on a competitive basis. The successful applicant will be <br />given immediate credit. The City anticipates an average of 15 securities in Federal <br />Reserve Bank ( "FRB ") or Depository Trust Corporation ( "DTC ") safekeeping at any <br />time. Ownership of the securities must be perfected and evidenced by an original <br />safekeeping receipt sent directly to the City within one business day. Provide the <br />following information: <br />1. Is on -line information available for securities? For clearing? For safekeeping? <br />Yes, through CEO. <br />2. Describe bank safekeeping arrangements proposed. Identify any correspondent <br />bank used for custody. <br />See "Bank Safekeeping Services & Safeguards" located in! <br />3. Are fees charged for clearing, safekeeping and income distribution or are fees <br />bundled? <br />No, See fee schedule located in A0i- indl'Iristiitiiarl Ifer <br />The City may choose to purchase time deposits from the successful applicant but all <br />time deposits will be competitively bid. The successful applicant may provide a set <br />basis for establishment of CD rates if desired. <br />M. COLLATERAL REQUIREMENTS The City requires a financial institution that is <br />fiscally strong and able to provide the services described on an uninterrupted basis. <br />City funds are public funds and fall under provisions of the Public Funds Collateral Act <br />(Texas Government Code Chapter 2257) with additional restrictive City requirements. If <br />funds are, for any reason not swept, all un- invested time and demand funds above <br />FDIC insurance coverage must be collateralized to 102% with securities authorized by <br />the City. Authorized collateral will include only: <br />Obligations of the U.S. Treasury <br />Obligations of U.S. Agencies and Instrumentalities (excluding letters of <br />credit) to include mortgage backed securities which pass the bank test <br />All securities pledged to the City will be held by an approved independent third party <br />institution outside the applicant's holding company. The successful applicant will be <br />