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Meeting Date:	01/14/2019
RFP for Depository Bank Agreement
Submitted for:	Joe Lopez	Submitted By:	Joe Lopez
Department:	Purchasing

Subject:

Discussion and possible action to authorize the Purchasing Agent to solicit Request for Proposals for a Depository Bank for Webb County; current agreement with Commerce Bank terminates May of 2019.

Issue: The current bank depository contract with Commerce Bank will terminate May of 2019.

Solution: Authorize the Purchasing Agent to seek competitive proposals for the Courts review and selection.

Result: Secure competitive proposals, evaluate proposals, score and document final recommendation on rankings and any other requirements set by Commissioners Court.

Background:

n/a

Previous Court Action:

None

Fiscal Impact

Budget Account Number:	TBD
Funding Source:	TBD
Balance:	TBD
Financial Impact:
Financial impact is unknown at this time. Once proposals are secured, any fees being proposed by interested financial institutions can be reviewed and discussed at that point for the Courts consideration.