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GALVE TIONSFOR TONCOUN YREQUEST ORAPPLICA EPOSITORY NDSAFEKE PINGSERVI (County of Galveston)

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County of Galveston

TABLE OF CONTENTS

Introduction

Notice to Interested Parties…………………………….……………

………………………………………..i

Request for Applications……………………………….…………………………………………………….ii

Application

General Information ………………...………………

……...……………………………………………...…2

Service Requirements (Form A)…………………………...……….……………..……………………….…5

Pricing (Form B)…………….……………………………...……………………..……………………….…9

Collateral and Safekeeping..………………………………………………………………………………...11

Acknowledgement of Collateral Requirements (Form C)..…….…….…………………………...13

Daily Bank Balances Analysis……………………………...……………………..……………………..…14

Fee Calculator Bid (Form D) ………..…………..………………………………………………………….15

Interest Calculator Bid (Form E) ..…………………………………………………………………...……..17

Bank Representative Authorization (Form F)…………………….………………..……………………….18

Proposal Signature Page (Form G)……………………...…………………….…………….…………...….19

Proposal Check Return Authorization Form (Form H)……………………………………………………..20

List of References (Form I)…………….………………………….……………………………….……….21

Checklist…………………….……………………………...……………………..………………………...22

COUNTY OF GALVESTON

722 Moody Avenue-4th Floor

Galveston, Texas 77550

(409)770 -5395

Notice to Interested Parties

Sealed Request for Proposals (RFP) will be received at the County Treasurer Department, 722 Moody

Avenue, 4th Floor, Galveston, Texas 77550 before 5:00 pm, Friday, June 7, 2019 to be opened at the

Galveston County Commissioners' Court on Monday, June 17, 2019 at 9:30 am for Application for

Depository Bank and Safekeeping Services for Funds of Galveston County.

Proposals must be in a sealed envelope and marked:

Proposal to be opened June 17, 2019

Depository Bank and Safekeeping Services for Funds of

Galveston County RFP Number 19-023

Any questions or additional information required by interested vendors must be emailed to:

galvestoncountytreasurer@co.galveston.tx.us before Tuesday, May 28, 2019 at 12:00 pm.

Any changes in the specifications w

ill be posted on the County website (www.galvestoncountytx.gov

) as an

addendum. It shall be the proposer’s responsibility to check the website prior to the bid opening

date to verify whether any addendums have been posted.

Award will be made based on a review

of qualifications, scope of services and price.

COMMISSIONERS' COURT RESERVES THE RIGHT TO REJECT ANY AND ALL

PROPOSALS AND WAIVE TECHNICALITIES. Only proposals that conform to specifications will

be considered.

KEVIN C. WALSH, CPA

Treasurer

CRYSTAL COOPER,CIO

Assistant Treasurer

Request for Applications for Main and Participating Bank Depositories

for the Deposit of Funds Belonging to

Galveston County and Other Governmental Entities

Galveston County is accepting proposals for depository bank services, to include depository, Automated

Clearing House (ACH), wire transfer, disbursements, lockbox, electronic banking, reporting, merchant

services, and investment custodial services.

Pursuant to the provisions of Texas Local Government Code 116.022 and 117.022, notice is hereby

given that the Galveston County Commissioners' Court is seeking applications for a Main and for

Participating Bank Depositories for the following funds:

• All funds belonging to the

County of Galveston;

• Trust funds and Court Registry Funds in possession of the County Clerk of Galveston

County;

• Special Funds deposited in the County Treasury and utilized by its Community Supervision

and Corrections Department (Adult Probation); and

• Acc

ounts, including overnight depositories, utilized by other elected and appointed Galveston

County officials.

Sealed applications in se

ts of one (1) original and three (3) copies, marked on the outside with:

Proposal to be opened June 17, 2019

Depository Bank and Safekeeping Services for Funds of

Galveston County RFP Number 19-023

will be received until close of business (5:00 pm) on June 7, 2019 at the Office of the County

Treasurer located at the Galveston County Courthouse, 722 Moody Avenue, 4

Floor, Galveston,

Texas 77550. All applications will be opened by the Commissioners' Court at its regularly scheduled

meeting held at 9:30 am on June 17, 2019 at the Galveston County Courthouse 722 Moody Avenue,

1st Floor, Galveston, Texas 77550, or as soon thereafter as may be determined necessary by the Court.

Applicants should be Stat

e and National Banks, preferably domiciled in Galveston County, Texas, which

have the ability to provide safekeeping depositories for all funds and accounts listed above in the form of

demand account banking.

Each Applicant

must utilize the County’s Official Proposal Form and specify the interest it will pay on

Demand Deposits and/or Time Deposits. Each Applicant must also provide through a contract with

another bank, if necessary, adequate facilities located in the County seat, which is Galveston, Texas, for

daily banking transactions. Participating Bank Applicants need only have a branch presence within the

County in order to be considered. Additionally, each Applicant who has a Demand Deposit Account with

the County will be required, upon request of the County Treasurer, to furnish daily statements, along

with front and back images of canceled checks guaranteeing each endorsement, which can be imported

individually into the County’s financial system.

The Term of each Depository Contract will be for a period of four (4) years, beginning October 1, 2019

and expiring September 30, 2023. In addition, if necessary, each Depository Contract may be extended by

Galveston County up to an additional sixty (60) days to enable the County Treasurer to have ample time

to close out accounts and to transfer funds to successor County Depositories. Each Depository Contract

shall allow Galveston County to establish, on the basis of negotiations with the bank, new interest rates

and financial terms of the Depository Contract which will take effect during the final two years of the

four-year contract, including the option to alternate between fixed and variable interest rates. Any new

financial terms may not increase service cost to Galveston County by more than 10%.

Each Depository Co

ntract will require the bank to pledge, as collateral, securities acceptable to and

approved by the Commissioners’ Court

Galveston County which cumulatively have a market value

amount sufficient to equal 110% of all funds deposited with the bank by Galveston County, including its

County Clerk, its District Clerk, its Community Supervision and Corrections Department (Adult

Probation), and all other elected and appointed Galveston County officials. In addition, each bank must

maintain FDIC insurance and comply with the terms and provisions of Government Code Chapter 2256

(Public Funds Investment Act) and Chapter 2257 (Public Fund Collateral Act), as well as Local

Government Code Chapters 116 (Depositories for County Public Funds) and 117 (Depositories for

Certain Trust Funds and Court Registry Funds) as they relate to such securities. All such securities shall

be placed in a second bank or with the Federal Reserve Bank for safekeeping, providing the County of

Galveston with safekeeping receipts. Monthly reports on all collateral securities will be made to the

County Treasurer and shall include the par value and market value of each. Requests for substitution of

collateral securities may be made in writing to the County Treasurer’s Office. Such requests are

similarly subject to the approval of Commissioners’ Court.

In addition to executi

ng a County Depository Contract, each Applicant may be required to execute the

following Agreements with terms and conditions acceptable to Galveston County and any applicable

elected officials:

• Custodial Agreement for County-Owned Securities;

• Investment Clearing Agreement;

• Custodial Agreement for Pledged Securities (Federal Reserve Bank); and/or

• Lock Box Agreement.

Each Applicant must

state the amount of the bank’s paid-up capital stock and permanent surplus and the

application must be accompanied by:

•

A statement showing the financial condition of the bank on the date of the application;

• A cert

ified check or cashier’s check for $1,263,579.00, one-half percent of the county's

revenue; and

• A description of all banking services they are willing to provide and the charges for such

services, if any. Examples include but are not limited to the ordering of checks, deposit

slips, returned checks, remote capture services, positive pay service, etc.

Awards to successful Ap

plicants will be made by the Galveston County Commissioners’ Court at its

regularly scheduled meeting held on July 29, 2019, or as soon thereafter as may be determined necessary

by the Court.

The Galveston County

Commissioners’ Court shall have the right to accept the Application that it

determines offers the most favorable terms and conditions for the handling of all County funds. The

Galveston County Commissioners’ Court shall also have the right to reject in part or in whole any and all

Applications.

iii

Application for Depository Bank

and Safekeeping Services for

Funds

of Galveston County

RFP # 19-023

Opening Date:

Monday, June 17, 2019

General Information

The Galvesto

Count

y Co

mmissioners Court, in compliance with applicable Texas statutes, is herein

requesting applications from any banking corporation or financial institution to serve as a County

Depository Bank(s).

The specific references governing these services are:

Local Government Code Chapters 116-117 and Government Code Chapters 2256-2257

The text of these governing statutes may be obtained a

t: https://statutes.capitol.texas.gov/

By submitting a proposal, the bank acknowledges that it understands the aforem

entioned laws, which

pertain to the safekeeping of County funds and will comply with these statutes.

Pursuant to the Texas Local Government Code § 116.021 and Vernon’s Texas Codes Annotated,

Government Code, Title 10, Chapter 2257, sealed proposals will be received at the Galveston County

Treasurer Department on or before 5:00 pm on Friday, June 7, 2019 for the selection of bank

depositories for the forthcoming four (4) year period commencing on October 1, 2019. Applications may

be submitted by any “bank” as defined by the Texas Local Government Code § 116.001.

Applications may be submitted for depository, safekeeping, or both services.

There is no express or implied obligation for Galveston County to reimburse responding firms for any

expenses incurred in preparing their response to this proposal.

Any additional

information required by the interested applicants must be submitted in writing to the

attention of the County Treasurer Department before Tuesday, May 28, 2019 at 12:00 pm.

To be considered, original

sealed applications plus

three (3) ide

tical duplicates must be received by

5:00 pm on Friday, June 7, 2019 in the office of the County Treasurer Department. These proposals

will not be opened until the final submission date and hour noted.

All proposals must be delivered to:

Galveston County Treasurer Department

Attn: Kevin C Walsh, Treasurer

722 Moody Avenue—4

Floor

Galveston, Texas 77550

Proposal must be in a sealed envelope and marked:

Proposal to be opened June 17, 2019

Depository Bank and Safekeeping Services for Funds of

Galveston County RFP Number 19-023

Good Faith Guarantee

This application for Depository Bank and Safekeeping for Funds of Galveston County must be

accompanied by a certified check or cashier’s check made payable to Galveston County in the amount

of $1,263,579.00, one-half percent

of the County’s revenue for the preceding year. The check is a

guarantee of good faith on the part of the bank that if the application submitted is selected as a County

Depository, the successful Applicant will, within fifteen (15) days after notice of selection, enter into a

pledge contract with the Commissioners' Court. If accepted, the successful Applicant will file bonds

of securities in s

ufficient amount to secure the public monies to be entrusted to them within fifteen (15)

days of selection as prescribed by the Texas Local Government Code §116.051

and Vernon’s Texas

Codes annotated, Government Code, Title 10 Chapter 2257. Should the bank fail to qualify as

Depository as required and within the fifteen (15) days specified, the certified check or cashier’s check

shall go to Galveston County as liquidated damages in accordance with the Texas Local Government

Code § 116.023 (c) and Vernon’s Texas Codes Annotated, Government Code, Title 10, Chapter 2257.

Applications not accompanied by a certified check or a cashier’s check will not be considered.

When the Depository has been selected, the certified check(s) or cashier’s check(s) presented with

the proposal application(s) shall be returned to the unsuccessful Applicants immediately. Certified

checks or cashier’s checks presented

by successful Applicants shall be held until the pledge contract

and required securities have been tendered and approved by the Commissioners' Court.

Applications submitted will be evaluated by a committee as designated by the Commissioners'

Court. This committee’s recommendation will be forwarded to the Galveston County

Commissioners' Court who will select the financial institution.

During the evaluation process, Galveston County reserves the right to request additional information

or clarification from Applicants, or to allow for corrections of errors or omissions. At the discretion

of Galveston County, financial institutions submitting applications may be requested to make

oral presentations as part of the evaluation process.

Galveston County reserves the right to select the acceptable Applicant who offers contractual terms

and

conditions most favorable to the County. The County may reject Applicants whose management

or financial condition, in the opinion of Commissioners' Court, does not warrant the placing of County

funds in their possession. Galveston County reserves the right to reject in part or in whole any or all

proposals, waive minor technicalities, and award the proposal that best serves the interest of Galveston

County. Late proposals will be returned to the proposer unopened.

Proposals ma

y be withdrawn any time before the official opening. Alterations made before opening

time must be initialed by proposer to authenticate.

Terms of Bid

The County shall contract with a bank for a two-year or four-year contract term. This depository contract

must commence no

later than October 1, 2019 and must continue until sixty (60) days after the time

fixed by statute for the next selection of a Depository Bank. On expiration of the primary term, the

contract may be renewed for two (2) additional years under the terms negotiated. If the contract is for a

four-year term, the contract shall allow the County to establish, on the basis of negotiations with the

bank, new interest rates and financial terms of the contract that will take effect during the final two (2)

years of the four-year contract.

If a time

d deposit extends beyond the expiration date of the contract, the managing bank will pledge

sufficient securities required by Galveston County to provide for the maturity of the time deposit.

Selection Criteria

The depository bank proposal review committee considers the following criteria points. The

committee then makes a recommendation to Commissioners' Court and the Court makes the ultimate

decision. Selection criteria points are as follows:

Proposal Scoring Percentage

Best value in terms of service and cost……………………………………………………….

25%

Net rate of return on County funds…………………………………………………………...

20%

Bank’s past and prospective financial strength………………………………………………

15%

Cash Management bank services offered…………………………………………………….

15%

Experience and ability to meet service requirements………………………………………...

10%

Convenience (e.g. locations)………………………………………………………………….

10%

Any additional bank services offered………………………………………………………...

TOTAL 100%

All bids

submitted in hard copy paper form shall be submitted in a

sealed envelope, plainly

marked on the outside with:

Proposal to be opened June 17, 2019

Depository Bank and Safekeeping Services for Funds of

Galveston County RFP Number 19-023

A hard copy paper form submittal shall be manually signed in ink by a person having the

authority to bind the

firm in a contract. Submittals shall be mailed or hand-delivered to the

Galveston County Treasurer Department.

Service Requirements

Indicate ‘Y’ confirming service is offered or ‘N’ if service is not offered.

Attach additional documentation as needed to provide more detail.

1. Standard Disbursement Services - Standard disbursing services for all accounts are

required to include the payment of all County checks upon presentation. No funds

or fees may be withdrawn from the County Depository except by properly

drawn warrants which have been approved and signed by appropriate

authorities as designated on signature cards. All signature cards must be made

available to the County Treasurer.

2. Standard Deposi

t Services - The bank will guarantee immediate credit on all

wire transfers, ACH transactions and all deposited checks based on the bank’s

availability schedule. All deposits received before the banks deadline will be

credited daily.

Statements - Monthly account statements delivered in electronic file format, as

well as paper. Monthly account statements will be provided with all original

canceled checks, debit and credit memos, etc. and downloadable images of

the front and back of the

se items, as well as monthly and year-to-date interest

earned. Images should be retained in accordance with the rules adopted by

the Texas State Library and Archives Commission. This statement shall

show the number of checks, deposit and deposit items posted, daily ledger

balances, average daily ledger balance for the month, average daily collected

balance for the month and other items on which charges are based. Such

statements shall be provided within seven (7) working days after calendar

month-end. Please attach a sample bank statement.

4. Automatic Over

night Acc

ount - All funds remaining in designated accounts

may be swept and automatically deposited by the bank on an overnight or

weekend basis into a better investment vehicle. The bank will credit the total

interest earned to each account based on each account’s investable balance. Funds

must be deposited in avenues that are authorized by the Public Funds Investment

Act. The bank must send the County a confirmation detailing the interest rate

and monthly statements detailing daily activity.

5. Collateral Repo

rts - A detailed monthly collateral-to-deposit report is required.

The report shall contain security descriptions, par value/current face and current

market value. Please attach a sample of a monthly collateral report.

On-line Communication - It is

requested that as part of the bid the Depository

Bank will provide an on-line communication link to the County for daily reporting

of account balances, collateral and ledger balances, and detailed debits and

credits. The bank must also be prepared to provide the Treasurer’s Office

with the opportunity to physically work with this technology before the RFP

Form A

is selected. Discuss the methods (e.g., Web-based, proprietary software) by

which Galveston County can view current day activity, previous day activity and

balance information, and specify any associated costs.

a. Can information be accessed by multiple users?

b. Can information be accessed by multiple locations?

c. Can individual users be restricted to accessing information only on

certain accounts or transaction types?

d. Can information be imported into a spreadsheet?

e. Are pending transactions included in the Available Balance?

Fees and Service Charges - Fees and service

charges for monthly service must be

included in a monthly analysis format. A monthly detailed billing for every

service charge and fee for all individual County bank accounts which

includes type of service, volume, individual price, and total price will be

provided. A sample client account analysis report must be provided as part of

the RFP.

8. Payment for

Services – The County desires that there be no service charge if the

earnings credit exceeds the total service charges for the billing cycle, which

should occur on a quarterly basis.

Positive Pay Service - Positive pay service is required. Describe in detail your

posit

ive pay service. Does the bank offer payee match as part of its positive pay

service? How often can positive pay files be sent and uploaded? Specify any

associated cost.

10. Wire Transfer C

apability - Wire transfer capability using computer service

with dual control security features (primary and secondary authorization).

11. ACH Operations - P

rovide ACH operations to allow the County to initiate

electronic paperless entries through your financial institution and other financial

institutions by means of ACH files (e.g. payroll direct deposit ACH file). A daily

remittance report should be sent to the County for all incoming and outgoing

ACHs, EFTs, and Wire Transfers.

12.

Stop Payments - The C

ounty will require the bank to issue stop payments executed

from personal computers or fax by County personnel at County locations. Stop

payments will be considered permanent voids and the County does not need to

renew stop payments. The Depository Bank’s electronic system must allow for

County personnel to search, delete, and adjust items as needed.

13. Checks, Deposit Slips, Endorsement Stamps, and Other Supplies - The bank will

order supplies for the County as specified by the County. Any applicable

charges should be directly invoiced to the County Treasurer, not paid by direct

debit.

14. Account Executive Service Person - The bank will provide Galveston County with

an Account Executive Service person located in Galveston County whose

responsibility must be to serve as primary liaison between the bank and Galveston

County. This person will be responsible for attending to inquiries, requests for

services, researching historical data, and other daily activities regarding the

managing of Galveston County Accounts.

15.

Reconciliation - The bank agr

ees to reconcile any differences in account

balances within a period of time mutually agreeable to both Galveston

County and the bank following notification of such discrepancies. Differences

in account balances include any difference between checks paid in comparison

to positive pay amounts transmitted to the bank, and differences between

deposits made (declared) as compared to deposits verified by the vault.

16.

Waiver of Certificates of Deposit Penalty – The County and

District Clerks

maintain trust accounts for minors. These funds are invested in Certificates of

Deposits to earn interest for the minor’s benefit. Occasionally these accounts are

closed by court order prior to the maturity date of the CD. The bank must waive

the early withdrawal penalty if a minor’s trust account is closed by court order

prior to the CD’s maturity.

17.

Deposits – The bank must accept mixed deposits containing cash, checks,

and

coin from the County. Deposits may be made primarily through the vault

(armored car); branch teller walk-up is minimal.

18.

Remote Capture – The bank must provide remote capture services and equipment

o multiple users at multiple locations in the County. The County would prefer to

use Remote Capture in conjunction with Check 21 services, whether directly

through the bank or with a contracted third party through the Depository Bank.

Remote Capture services must include detailed image reporting available for

download into the County’s internal system, as well as historical search

capabilities for deposit totals and individual items dating back no less than one

year.

19.

1099’s for Trust Beneficiaries - For County

Clerk and District Clerk trust funds,

the bank must provide the County with individual accounts that are in the name of

the beneficiary and record the interest earned on these accounts as a credit to the

social security number or employer identification number of the beneficiary. The

bank must send monthly account activity statements and Internal Revenue

Service Form 1099s to the appropriate Clerk for each account maintained. Online

information reporting for these accounts should be made available.

20.

Deposits at Branch Locations – The bank must

allow designated County

personnel to make deposits at any branch location.

21. Overdrafts - All demand deposit overdrafts incurred in the normal course of

business will be covered at no cost to the County as long as sufficient compensating

balances exist in other County accounts.

22.

Notice of Returned Checks – The Depository Bank must provide County

personnel with immediate online notice of any returned checks, as well as via

regular p

ostal mail. The notices must include an image of the check, the reason

for the return, and the total of the original deposit.

23.

Stored Value Cards – The County shall hav

e the ability to issue payroll to its

employees in the form of stored value cards, as well as other payment

applications. The Depository Bank will not charge the County any fees for the

use and maintenance of these cards.

24. ATM Services

–If the bank is interested in exploring the possibility of offering

ATM services in conjunction with the County, please provide a product and cost

information breakdown. THIS IS FOR INFORMATIONAL PURPOSES

ONLY, AND WILL NOT BE INCLUDED IN THE BANK DEPOSITORY

RFP. Please provide an additional sheet containing this information.

25. Armored Car Depository Service – Please include a service and charge breakdown

for services related to picking up and dropping off funds from various County

locations. Include a sample invoice for these services, or indicate where on the

monthly analysis this charge is located.

26. Lockbox Servi

ces – Does the bank provide directly, or via contract with a third-

party, lockbox services? Please provide figures for how many pieces of mail can

be processed per day, staffing of the facilities, and equipment used in the

facilities, along with a description of the location of the lockbox facility.

27.

Virtual Services – Can the bank provide a locking safe for virtual vault/safe

services, wherein funds are deposited into a safe located at a County office,

credited to the County’s bank account, and then retrieved at a predetermined

time by an armored

car depository service?

28. Safekeeping Account - In the event that the County exercises its right to make

external investments, the depository institution must provide a safekeeping

account to hold securities purchased by the County. If the Depository Bank

cannot provide investment safekeeping services, then the County will also have to

select a second depository for those safekeeping services. Excess funds are invested

in accordance with the County’s investment policy and the Public Funds

Investment Act. All investments are on “delivery versus payment” where the

safekeeping entity verifies the incoming security to the purchase instructions

provided by the County. If the security matches the purchase instructions, the

safekeeping entity releases the funds to purchase the security. If the safekeeping

entity is not the County’s main depository bank, then funds would need to be

transferred into the safekeeping account the day before the security delivery date.

Any cash funds in the safekeeping account would either have to be collateralized at

110% per the County’s depository collateral requirements, or swept into an interest-

earning money market account. The safekeeping entity will provide transaction

notices for any interest payments received on investments, investments

maturing, sold or purchased, and monthly safekeeping account statements. The

report shall contain security descriptions, par value/current face and current market

value as well as any interest earned on funds in the account.

**Refer to the COLLATERAL & SAFEKEEPING section for more details**

29. Please a

ttach a copy of your Disaster and Emergency Preparedness Plan.

Pricing

Please quote prices and discounts on the following items:

1. Comprehensive List of Service Prices – The bank must provide a comprehensive list of service prices as

well as any other costs that will be charged to the County for any reason. Specify any and all costs

associated with electronic transfers, including transfers between Galveston County accounts. This list

will be considered all-inclusive and the prices shown on the list must be incorporated into the contract.

If a four (4) year contract is executed, the bank has the option to change prices for the second two

(2) year term. The price change will be negotiated, but may not exceed 110% of the prices shown for

the first two (2) year term.

2. What is the cut-off ti

me to ensure a same-day ledger credit?

3. Provide an a

vailability schedule.

4. Does the bank outsource any of the proposed services?

5. What are the ba

nk’s cut-off times for customer-initiated Electronic Transfers (Wires, ACHs, Account

Transfers, etc)?

Comprehensive Cash Management Capabilities – The bank must provide comprehensive cash

management pro

grams and associated costs (e.g., electronic check presentment, check conversion, stored

value cards, etc).

7. Does the bank offe

r any service to protect Galveston County’s accounts from unauthorized ACH

debits?

Form B

Attach documentation

9. Describe how the financial institution plans to keep this product current and competitive.

10. Does the ban

k conduct background checks on its employees?

11. How many ba

nk employees are present when deposit bags are opened?

12. Describe

security at the cash vault center. What additional security measures are employed?

13. Does the ban

k identify and adjust all discrepancies?

14. When deposit discrepancies are discovered, what are the bank’s notification, reporting, and adjustment

procedures?

15. Require

d Form (See Form D) - On the attached form titled FEE CALCULATOR BID, indicate the

charges per unit for each service, the estimated charges for each service, and the estimated compensating

balance which the County would be required to maintain in order to offset the service charges. Specify

when there is no charge for a service or when there are additional charges for a service. List any fee or

service charges that you foresee, even if not listed in the FEE CALCULATOR BID.

The number of units on the form represents Galveston County’s bank services activity for fiscal year

2018.

16. Required

Form (See Form E) - On the attached form titled INTEREST CALCULATOR BID, calculate

the interest Galveston County would have earned last fiscal year using your proposed rate of return

historical data. Galveston County is requesting for bank applicants to define specifically the method used

by the applicant for interest calculations in its normal operations. The bank must furnish adequate

information about the index and or instruments used to arrive to the proposed rate (e.g. 90 days T-Bill

rate, Texpool rate). Galveston County must be able to independently calculate the proposed rate and

interest payable under the contract. Also, specify which bank balances are subject to interest (e.g.

Average Collected Balances).

Because a f

our (4) year contract may be executed, the bank must propose new fixed and variable rates of

interest for interest-earning transaction accounts, certificates of deposit, NOW accounts, money market

checking accounts, and the overnight investment facility for the second two years of the contract. During

the second two (2) years of a four (4) year contract, Galveston County has the option to adopt the bank’s

proposed rates for the last two years or to establish, on the basis of negotiations with the bank, new

interest rates and financial terms of the contract that will take effect during the final two years of the four-

year contract.

Collateral and Safekeeping

Legal Collateral Requirement Specifications

Allowable securities for collateralization only include:

 U.S. Treasury Notes

 U.S. Treasury Bills

 Government National Mortgage Association Certificates

 Federal Farm Credit Banks Notes and Bonds

 Federal National Mortgage Association Notes and Bonds

 Federal Home Loan Mortgage Association Notes and Bonds

Required Level of Collateral

The initial amount of securities to be pledged against Galveston County shall be adequate to fully

collateralize the funds of Galveston County according to the State laws of Texas. The amount is subject

to change as deposits fluctuate. At all times, the market value of collateral including accrued interest

must be equal to or greater than 110% of the sum of the par value of the certificates of deposit

plus accrued interest, the daily bank ledger balances, and the overnight investment facility balances,

less funds insured by Federal Deposit Insurance Corporation.

Monitoring of Collateral

Bank is responsible for notifying the County of any deficiencies in th

e Bank’s pledged collateral on a

daily basis, as well as obtaining additional collateral to cover the deficiency. Reduction and or release of

Collateral must be approved and signed by the County Treasurer.

Location of Collateral

Bank must deposit all collateral pledged to secure County funds at the Federal Reserve Bank

in Dallas or

with a mutually agreed upon third party with a notation that the securities are pledged to the County.

Depository safekeeping receipts should be furnished to the County Treasurer verifying the pledged

securities. Securities pledged to the County shall be placed in safekeeping by the Depository Bank

providing safekeeping services and the original of the safekeeping receipt shall be given to the

County Treasurer. Collateral security will be pledged only: “To the County of Galveston, Galveston

County, Texas”. Release of collateral must be approved and signed by the County Treasurer.

In the event that the County’s Depository Bank provides both depository and safekeeping services there

will only be a single collateral pledge for all County funds.

Attach documentation providing the following:

1. A copy of the proposed Safekeeping Agreement for the safekeeping account.

2. Using the following example scenario, please provide a complete detailed monthly

invoice for Safekeeping Services for December 2018:

Security Purchased Maturity Par Amount

Purchased

Through

FHLB 01/15/2017 01/15/2017 $2MM Entity

T-BILL 12/05/2017 12/05/2018 $2MM Outside Party

T-BILL 05/08/2017 12/08/2018 $2MM Entity

FHLB 05/12/2017 12/12/2018 $2MM Outside Party

FHLB Callable 02/15/2017 02/15/2018 $2MM Outside Party

CALLED 12/15/2017

$2MM Outside Party

T-BILL 12/20/2017 12/20/2018 $2MM Entity

FHLB 12/22/2017 12/22/2018 $2MM Entity

3. Cut-Off Times – Deadlines to accept instructions.

4. Provide any applicable SEC and NASDAQ reports on your firm.

5. Disclose licensing agency registrations.

6. If the safekeeping account is provided by a third party, the following additional

information is required:

a. Resolution from the board of directors of the third party financial institution

giving the signing officer authorization to enter into agreements.

b. Audited financial statements of the third party for the most recent year.

Galveston County will require a copy of the financial report at least annually,

upon publication.

c. Current Credit Rating by: Moody’s, S&P, and Fitch.

The following page with acknowledgements of the County’s collateral and safekeeping

requirements.

Check each box to acknowledge the following requirements:

1. The financial institution shall segregate and identify on its books and

records all securities delivered by or for the account of Galveston

County which are held by the financial institution as belonging to

Galveston County.

Monthly account statements delivered in electronic file format, as well

as paper statements. The statements shall include the following

information on each security: CUSIP number, par value, cost value,

book value, and market value.

3. The financial institution shall rely and act only upon written

instructions signed by two (2) authorized persons from Galveston

County. Galveston County will provide the financial institution with a

sample of authorized signatures. If the financial institution has in place a

system for providing telecommunication or other electronic access or

other means of direct access, Galveston County will use such system for

inquiries only.

4. The financial institution shall provide Galveston County with monthly

detailed invoices for every single service charge.

Form C

Account Name

Average Daily

Balance

Highest Daily

Balance in FY18

Highest Cumulative Daily Balance

in FY18--01/30/2018

01 Road Bonds - 3308 137,436.93 137,625.76 137,033.16

03 Unltd Tax Rd Bond - 3307 1,903,253.86 1,907,285.19 1,897,609.09

07 Ltd Tax Bond - 3310 3,716,148.49 3,724,019.78 3,705,126.94

2008 COB Series - 3373 311,260.78 311,920.07 310,337.63

Accounts Payable 2,311,051.38 7,042,594.67 600,621.00

Boon Chapman Health 3,479.14 360,788.92 -

County Clerk Printech 14,830.85 20,091.33 14,592.01

Demand Account 5,249,998.26 47,378,885.44 39,733,987.34

District Clerk Printech 9,798.67 14,725.68 8,967.49

General Money Market 37,773,914.95 198,847,907.29 183,667,817.98

Indigent Healthcare - 2.45 -

Investment Account 17,040,891.34 25,102,890.02 -

JP Credit Cards 504,300.38 849,590.66 294,510.40

Jury Warrant 50,121.55 72,958.64 38,228.00

LIRAP 16,771.21 16,804.49 16,722.88

Ltd Cnty Bldg 09B-3120 62,327.30 62,450.98 62,147.67

Ltd Tax Flood Control Bond 09C-3370 528,216.03 529,334.86 526,649.41

Non-Interest 581,103.73 913,747.81 913,747.81

Payroll 1,006,198.84 4,210,065.59 649,651.21

Restitution 51,569.07 95,686.65 35,291.47

Retiree 176,777.17 349,587.16 116,053.55

Unclaimed Property 230,361.51 236,443.86 230,623.58

Unltd Road Bond 09A-3312 2,504,316.99 3,515,248.20 3,510,666.53

Worker's Comp 4,046.94 17,545.13 140.14

County Clerk Credit Card 518,215.02 883,241.18 798,157.46

County Clerk Odyssey NOW 9,620,262.76

12,781,525.38

11,186,776.23

County Clerk Odyssey Reg

istry 1,579,908.37 6,709,582.29 1,799,573.13

District Clerk Credit Card 1,612,115.67 2,650,680.82 1,649,376.31

District Clerk Child Support 4,420.53 11,080.60 7,382.65

District Clerk Civil 2,688,200.02 3,696,588.44 2,926,443.21

District Clerk Registry 713,554.66 912,194.59 495,171.27

Sheriff Inmate Prosperity ACH 27,299.02 140,878.79 22,860.25

Sheriff Inmate Property Account 189,435.78 292,885.76 104,447.56

Sheriff Reserve Account 21,124.44 25,404.69 21,104.99

Sheriff Bond Account 22,233.92 83,967.48 15,852.58

Sheriff Sales Account 190,248.33 519,865.39 232,248.50

Sheriff Commissary 1,384,818.70 1,519,743.41 1,306,219.61

Property Tax 13,532,934.92 90,618,812.70 70,507,544.28

Prosperity-Texas Parks And Wildlife 51,759.07 152,596.14 21,387.92

Tax Assessor/Collector- IVRR 189,306.30 329,196.25 246,481.66

Tax Assessor/Collector-Beer & Wine 76,972.57 116,106.93 83,773.43

Tax Assessor/Collector-Highway 2,427,126.86 5,129,915.85 1,320,037.96

Tax Assessor/Collector-Sales 197,586.44 874,924.96 239,378.34

Tax Assessor/Collector-VIT 1,294,545.48 2,385,687.63 2,204,700.05

Tax Assessor/Collector-Voter Acct 4,327.68 10,607.16 7,439.32

Tax Office Web Dealer 182,295.45 702,693.87 98,338.17

110,716,867.36 Highest Total Balance: 331,765,220.17

Tax Office

Total Average Daily Balance:

Galveston

County

Galveston County

Daily Bank Balances Analysis for Fiscal Year 2018

(October 1, 2017-September 30, 2018)

County

Clerk

District

Clerk

Sheriff's

Office

GALVESTON COUNTY

FEE CALCULATOR BID

Bank Services Activity

Fiscal Year 2018 (October 2017-September 2018)

Fee Number of Units Cost Per Unit Total Cost

Checking Activity:

Overdraft

Debits Posted

Credits Posted

Return Items

Non-sufficient Funds

Re-clears

Stop Payments

Item Encoding

On-Us Items

Transit Items

Checking Account Maintenance

Electronic Credit Posted

Electronic Debit Posted

Wire Transfers

Disbursement Services:

Positive Pay Monthly File Maint.

Positive Pay Issued

Positive Pay Paid

Positive Pay Void

Positive Pay Exceptions

Positive Pay No Issue

Image - CD Rom Statement

Image Safekeeping per Item

Lobby Services:

Branch Strap Processed

Branch Coin Processed

In-House Wires

Check Re-ordering

Merchant Services:

Credit Cards—Deposits

Credit Card Services—Terminals

Remote Capture Scanners & Maint.

Transcode File Transactions

Vault Services:

Check Only Deposits

Deposit Adjustments/Corrections

Locked Bank Bag Fee

Misc. Charge-Chks/Deposits

Form D

0.00

75,500

0.00

20,200

0.00

300

0.00

1,320

0.00

200,000

0.00

5,575

0.00

196,150

0.00

450

0.00

18,000

0.00

3,200

0.00

175

0.00

130

0.00

41,220

0.00

33,000

0.00

150

0.00

250

0.00

190

0.00

6,000

0.00

95,000

0.00

150

0.00

150

0.00

2,675

0.00

ACH Services:

File Transmission

Single ACH Transmission

Credits/Debits

Debits Originated

Receiving Addenda

Correction

Information Reporting:

ACH Addenda Report

Cash Management Reports

Total Cost:

In submitting this worksheet, the bank acknowledges that it understands and will comply with Texas Local

Government Code Chapters 116 and 117, pertaining to the managing and safekeeping of County funds.

230

0.00

85,000

0.00

18,000

0.00

365

0.00

365

0.00

Galveston County

Interest Calculator

Interest based on the average balance for FY 2018

Average Balance for Fiscal Year 2018: $128,113,443.17

Month APY APR Interest

Oct 2017

Nov 2017

Dec 2017

Jan 2018

Feb 2018

Mar 2018

Apr 2018

May 2018

Jun 2018

Jul 2018

Aug 2018

Sep 2018

Total

Please provide the interest that Galveston County would have earned last fiscal year

using your proposed rate of return. Please furnish adequate information about

the index and/or instrume

nts used to arrive at the proposed rate.

APY- Annual Percentage Yield is a normalized representation of an interest rate, based on a

compounding period of one year.

APR - Annual Percentage Rate is the interest for an entire year expressed as a single percentage and

does not account for compounding.

Form E

0.00

Bank Representative Authorization Form

RFP #19-023

I am an officer, president, or individual

(Full Name)

authorized to bind the company, known as :

(Company name)

By reading and signing this document, I confirm that I have been read the bid in its entirety, and I

agree on behalf of the company to all terms and conditions outlined in the proposal.

Name__________________________________________________________________________

Title____________________________________________________________________________

Company Name__________________________________________________________________

Mailing Address_________________________________________________________________

City, State, Zip Code______________________________________________________________

Signature________________________________________________________________________

Date____________________________________________________________________________

Form F

Print and sign in ink

Proposal Signature

RFP #19-023

Application for Depository Bank and Safekeeping Services

For Funds of Galveston County

Vendor must meet or exceed specifications

Please do not include tax, as the County is tax-exempt. We will sign tax exemption certificates covering

those items. Please submit one (1) original and three (3) copies of the complete proposal.

I or we agree to furnish the following described equipment, supplies, or services for the

prices shown in accordance with specifications listed below or attached.

By execution of this proposal, I hereby represent and warrant to Galveston County that

I have read and understood the Proposal Documents and the Contract Documents and

this proposal is made in accordance with the Proposal Documents.

Company Mailing Address

Federal Tax Identification No. City, State, Zip Code

Company Website

Representative Name & Title Telephone Number including area code

Signature Fax Number including area code

Date Email Address

Form G

Print and sign in ink

Proposal Check Return Authorization Form

All bids must be accompanied by a certified check or cashier’s check, and this form. All bid checks must

be made payable to Galveston County, not to an individual.

Bid checks will be retained by the Galveston County Treasurer’s Office until the award and approval of a

contract. Galveston County is hereby granted authorization to return, without liability of any kind, the bid

check of any unsuccessful bidders via regular postal mail to the address listed below:

Bid for: _RFP #19-023

Application for Depository Bank and Safekeeping Services for Funds of Galveston County_

Certified / Cashier’s Check #: ____________

________ Bank:______________________________________

Business Address:______________________________________________________________________________

Drawn on:__________________________________ Dated:_____________________________________

In the amount of: $______________________________________________________________________________

To be returned to:

Contact Name:_________________________________________________________________________________

Mailing Address:_______________________________________________________________________________

City, State, Zip:________________________________________________________________________________

Telephone:_______________________________ Email:_____________________________________

Form H

References

Reference #1

Organization Name:

Contact Email:

Contact Name:

Contact Tel. No.:

Address:

Services Provided:

Reference #2

Organization Name:

Contact Email:

Contact Name:

Contact Tel. No.:

Address:

Services Provided:

Reference #3

Organization Name:

Contact Email:

Contact Name:

Contact Tel. No.:

Address:

Services Provided:

Form I

COUNTY OF

Bidder’s Check List

RFP # 19-023

Application for Depository Bank and Safekeeping

Services for Funds of Galveston County

THIS CHECKLIST IS PROVIDED FOR YOUR

CONVENIENCE

Responses should be delivered to the County Treasurer Department

by 5:00 pm, Friday, June 7, 2019.

Did you Visit our website (www.galvestoncountytx.gov) for any addendums?

Did you provide one (1) origin

al and three (3) duplicates?

Have you included a certified check or cashier’s check, along with the completed Bid Check Return Form?

Have you included a current financial statement for the bank?

Are all fields and forms in the RFP filled out?

Have you attached the following forms:

Service Requirements

Pricing

Collateral and Safekeeping Requirements Documentation

Fee Calculator Bid

Interest Calculator Bid

Bank Representative Authorization

Proposal Signature Page

List of References

Have you included a list of any and all service or charges not specified in the RFP?

Did you attach a sample of the monthly collateral report?

Did you attach a sample of the analysis invoice?

Did you attach a sample bank statement with check images?

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GALVE TIONSFOR TONCOUN YREQUEST ORAPPLICA EPOSITORY NDSAFEKE PINGSERVI (County of Galveston)

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