Bank Depository Bid - 2026 - 2029

2026-11-03

The Biloxi Public School District plans to either use a sweep account program so that it may get a better interest rate on checking accounts or use a “ lead bank ” with other banks participating . The school district plans to continue to use one bank to handle the day - to - day transactions for all accounts , whether the bank is the only bank used or is the lead bank . Therefore , Option 1 is to be completed using the sweep account approach and Option 2 is to be completed in case the Board of Trustees decides to use a lead bank approach . The District reserves the right to re - bid if market conditions warrant such action prior to the end of the three - year term . The District will only consider banks with a physical location within the city limits of Biloxi , MS . Option 1 : ( Sweep Account ); 1 . Interest Rate . After considering all of the items listed in 2 – 8 of Option 2 , each bank interested in bidding on the sweep account program should consider the following and offer a firm , “ net ” bid that represents the actual interest rate that will be paid to the school district on all accounts . 2 . The sweep account must be done in the background , not affecting any individual bank account balances so that bank statements can be reconciled without the sweep transactions . All bank accounts must be kept separate from each other . 3 . Banks will be required to provide the actual check images ( both front and back ) with the bank statement and make them available for viewing through online banking . 4 . Bank statements will be required to reflect activity through the last working day of each month . Deposit corrections should be sent to the District within two working days . All inquiries , problems , and corrections should be directed to District revenue bookkeeper . 5 . Banks will not charge separately for services such as stop payments , deposit books , stamps , internet services , transfers , or other charges . 6 . Banks will be required to provide to the District , if that bank is selected as the lead bank , such items as new counter checks , deposit books , locking bank bags , and stamps . Bank will not charge separately for these items . 7 . Banks will be required to provide computerized online access to all bank accounts . 8 . The Biloxi Public School District has an established payroll direct deposit and vendor payment program . Banks interested in being considered for “ lead bank ” will be required to make monthly payroll available for use by employees on the last working day of month . 9 . The institutions submitting bids must include in their sealed bid their most current Statement of Condition and State Depository Certificate . ( Failure to provide Certificate will result in an invalid bid ); 10 . Banks will be required to list all bank branches available for depositing funds so that a determination can be made based on school locations . Option 2 : ( Lead Bank ); 1 . Banks will be required to indicate a firm , “ net ” bid that represents the actual interest rate that will be paid to the school district on all accounts . 2 . The lead bank transactions between banks must be done in the background , not affecting any individual bank account balances so that bank statements can be reconciled without the intra - bank transactions . All transfers shall be made on a daily basis . All bank accounts must be kept separate from each other . 3 . Banks will be required to provide the actual check images ( both front and back ) with the bank statement and make them available for viewing through online banking . 4 . Bank statements will be required to reflect activity through the last working day of each month . Deposit corrections should be sent to the District within two working days . All inquiries , problems , and corrections should be directed to District revenue bookkeeper . 5 . Banks will not charge separately for services such as stop payments , deposit books , stamps , internet services , transfers , or other charges . 6 . Banks will be required to provide to the District , if that bank is selected as the lead bank , such items as new counter checks , deposit books , locking bank bags , and stamps . Bank will not charge separately for these items . 7 . Banks will be required to provide computerized online access to all bank accounts . 8 . The Biloxi Public School District has an established payroll direct deposit and vendor payment program . Banks interested in being considered for “ lead bank ” will be required to make monthly payroll available for use by employees on the last working day of month . 9 . The institutions submitting bids must include in their sealed bid their most current statement of condition and State Depository Certificate . ( Failure to provide Certificate will result in an invalid bid ); 10 . Banks will be required to list all bank branches available for depositing funds so that a determination can be made based on school locations .

Mississippi

2026-04-29