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<br /> C¡jL <br /> RFP 95-009 <br /> 5. GENERAL SPECIFICATIONS <br /> A. SCOPE: The City of San Marcos is requesting proposals from <br /> financial institutions for the provision of depository services. <br /> This includes basic services of receiving deposits, safekeeping <br /> services, wiring funds out, receiving funds wired in, stop <br /> payments, and other normal business banking activities. The <br /> financial institution will be a Federal or Texas chartered <br /> financial institution and have a branch location with full banking <br /> services available within the city limits of San Marcos, Texas. <br /> One (1) contract will be awarded for all services. <br /> B. BACKGROUND: The City of San Marcos has contracted with <br /> Victoria Bank and Trust since April 1990 to maintain and provide <br /> all depository and safekeeping services the City has required. The <br /> City has a total of eleven (11) active accounts consisting of nine <br /> ( 9) Money Market accounts and two (2) regular DDA accounts. In <br /> addition to the City's active accounts, the Police Department <br /> maintains a approximately six (6) special accounts related to their <br /> activities. <br /> . <br /> c. SCOPE OF WORK: <br /> 1. Safekeeping: The financial institution will be responsible for <br /> safekeeping and custody of securities held for the City. The City <br /> will maintain a self directed portfolio with all safekeeping <br /> purchases maintained in City custodial accounts. Services are <br /> required for book-entry and/or physical delivery securities <br /> purchased by the City. <br /> The financial institution will act as the clearing agent for <br /> security or fund transactions involving the transfer of funds or <br /> securities to and from dealer brokers. All transfers will be <br /> executed upon delivery of payment or securities through the Federal <br /> Reserve Wire System or an appropriate approved delivery system. <br /> The City will notify the financial institution by fax, of detailed <br /> purchase and maturity information (i.e: Trade Ticket) for each of <br /> the securities to be held in or released from safekeeping on or <br /> before the date of settlement. A confirmation advice will be <br /> mailed the day of the settlement followed by a safekeeping receipt <br /> no later than twenty-four (24) hours following settlement. <br /> 2. Collateral Requirements: All ledger balances which the City <br /> has on deposit with the financial institution will be secured in <br /> accordance with State law and City ordinance. Collateral <br /> 11 <br />