Investment Safekeeping Services for the City of Friendswood

The City of Friendswood, Texas is soliciting proposals from qualified financial institutions to provide safekeeping services for its investment portfolio. The selected institution will be responsible for managing the City's investments in accordance with state regulations, including Chapter 2256, Texas Government Code, "Public Funds Investment Act" and Chapter 2257, Texas Government Code, "Public Funds Collateral Act". The contract term will be for an initial two-year period with options to extend for up to two additional one-year periods, not to exceed four years in total. A transition period of up to 90 days will be provided at the end of the contract. Proposals will be evaluated based on fees and pricing structure (30%), ability to perform services (20%), financial fit and value (20%), completeness of the RFP (10%), financial strength and stability (10%), and references (10%).