Municipal Depository Services

2026-11-03

The City of Biloxi currently utilizes automated investment sweep account services , on - line ( Internet ) banking and direct deposit of employee pay . Your proposal should include the following : 1 . For the period beginning January 1 , 2026 and ending December 31 , 2027 , the monthly , marginal interest rate that the depository will pay on the City ’ s automated sweep investment accounts expressed as the number of basis points above (+) or below (-) the discount rate paid by the United States Treasury on its 28 day Treasury Bill as determined by the Treasury auction conducted in the first week of the applicable month . 2 . Disclosure of all charges for depository / banking services currently being utilized by the City of Biloxi , including monthly maintenance , check charges , deposit and per deposit item charges , charges for returned items , charges for on - line ( Internet ) banking services , charges of ACH transfer origination , charges for direct deposit of employee pay . Include fees for City accounts containing grant proceeds . 3 . A brief description of the system hardware required of the customer for utilization of banks on - line ( Internet ) banking software . 4 . Certification that the financial institution will comply with Section 27 - 105 - 5 , Mississippi Code of 1972 , amended , regarding the type and amount of collateral to be pledged as security for municipal deposits in excess of Federal Deposit Insurance Corporation Coverage ;

Mississippi

2026-04-29