Res 10-052
Res 10-052
CITY COMMISSION REGULAR MTG
- Meeting Date:
- 05/18/2016
- Title:
- Director of Finance
- Submitted For:
- Laura Boyd
- Submitted By:
- Laura Boyd, Finance
- Department:
- Finance
Information
ACTION REQUEST (Brief Summary)
Approve and award Bid #2016-317 Banking Services Contract.
BACKGROUND
Proposals were sent to the following vendors on April 1, 2016:
Texas First Bank
Regions Bank
BBVA Compass Bank
Mainland Bank
Moody National Bank
Bank of America
Proposals were due back to the City on Monday, April 25, 2016 at 2:00 p.m.
Texas First Bank
Regions Bank
BBVA Compass Bank
Mainland Bank
Moody National Bank
Bank of America
Proposals were due back to the City on Monday, April 25, 2016 at 2:00 p.m.
ANALYSIS
The only proposal received was from Texas First Bank. Texas First Bank fully meets all minimum qualifications.
The Finance Department recommends the depository contract be awarded to Texas First Bank for a term of five years beginning June 1, 2016.