Request for Proposals
Invitation for Bids
Ford F250 Truck
March 2, 2023
The Tifton Housing Authority is requesting bids for a 2023/2024 Ford F250 single cab, long wheelbase truck. You will find the specifications listed below. These specs could vary slightly as these specs are for a 2023 model.
This will be a tax-exempt purchase. The Ford fleet number is QH363.
The deadline for submitted proposals is 5:00 p.m. on Monday, April 10, 2023.
Contact Donnie Carter, Facilities Manager, at (229) 382-5434.
Invitation for Bids
Lawn Maintenance
February 27, 2023
The Tifton Housing Authority will accept bids for lawn maintenance of certain developments/neighborhoods of The Tifton Housing Authority. Sealed bids shall be mailed or delivered to the Tifton Housing Authority, 15 E. 16th Street, P.O. Box 12, Tifton, GA 31793. All bids must be submitted in writing no later than March 27, 2023, at 3:00 p.m. Any bids received after that time will not be accepted. Please mark bids "Tifton Housing Authority Lawn Maintenance Bid.".
Bids must be submitted on the bid forms attached. The Tifton Housing Authority reserves the right to reject any and all bids and to waive any informalities in the bidding. The Tifton Housing Authority expects to award the bid to the lowest responsive and responsible bidder. The Tifton Housing Authority may limit the number of contracts that are awarded to a single bidder, based on the bidder's capacity to perform the work.
Bidders are encouraged to inspect the developments/neighborhoods, as well as operations and conditions that may be affected. For site visit appointments or site visit questions, you may contact Donnie Carter, Facilities Manager at (229) 382-5434.
Shaundra Clark
Executive Director
BID FORM
LAWN MAINTENANCE
DEAS - 120 East 13th Street
The undersigned having familiarized (himself/themselves) with the local conditions affecting the cost of the work and having familiarized (himself/themselves) with the Scope of the Work and list of Development/Neighborhoods, proposes to furnish all labor, materials, equipment and services required for lawn maintenance at the above neighborhood.
Grass Cutting per cutting $_____________
Edging per edging $_____________
Trimming per trimming $_____________
Weeding per time $_____________
Total unit of work items $_____________
Total Unit Cost per cutting x29 Grand Total $_______________
The bidder does hereby certify that they understand and agree that the contract will be awarded to the lowest responsible bidder, and the Tifton Housing Authority may limit the number of contracts that are awarded to a single bidder. This bid shall remain in effect for sixty (60) days following the date of the bid opening and may not be withdrawn during this time without the consent of the Tifton Housing Authority. The bidder understands and agrees that the Tifton Hosing Authority may add or delete work items in this contract at the price bid per work item.
Company Name: ___________________________________________________
Company Address: _________________________________________________
Company Telephone: _______________________________________________
Date: _____________________________________________________________
By: _______________________________________________________________
BID FORM
LAWN MAINTENANCE
Hill Homes - 130 East 13th Street
The undersigned having familiarized (himself/themselves) with the local conditions affecting the cost of the work and having familiarized (himself/themselves) with the Scope of the Work and list of Development/Neighborhoods, proposes to furnish all labor, materials, equipment and services required for lawn maintenance at the above neighborhood.
Grass Cutting per cutting $_____________
Edging per edging $_____________
Trimming per trimming $_____________
Weeding per time $_____________
Total unit of work items $_____________
Total Unit Cost per cutting x29 Grand Total $_______________
The bidder does hereby certify that they understand and agree that the contract will be awarded to the lowest responsible bidder, and the Tifton Housing Authority may limit the number of contracts that are awarded to a single bidder. This bid shall remain in effect for sixty (60) days following the date of the bid opening and may not be withdrawn during this time without the consent of the Tifton Housing Authority. The bidder understands and agrees that the Tifton Hosing Authority may add or delete work items in this contract at the price bid per work item.
Company Name: ___________________________________________________
Company Address: _________________________________________________
Company Telephone: _______________________________________________
Date: _____________________________________________________________
By: _______________________________________________________________
BID FORM
LAWN MAINTENANCE
Golden Homes - Dixie Avenue
The undersigned having familiarized (himself/themselves) with the local conditions affecting the cost of the work and having familiarized (himself/themselves) with the Scope of the Work and list of Development/Neighborhoods, proposes to furnish all labor, materials, equipment and services required for lawn maintenance at the above neighborhood.
Grass Cutting per cutting $_____________
Edging per edging $_____________
Trimming per trimming $_____________
Weeding per time $_____________
Total unit of work items $_____________
Total Unit Cost per cutting x29 Grand Total $_______________
The bidder does hereby certify that they understand and agree that the contract will be awarded to the lowest responsible bidder, and the Tifton Housing Authority may limit the number of contracts that are awarded to a single bidder. This bid shall remain in effect for sixty (60) days following the date of the bid opening and may not be withdrawn during this time without the consent of the Tifton Housing Authority. The bidder understands and agrees that the Tifton Hosing Authority may add or delete work items in this contract at the price bid per work item.
Company Name: ___________________________________________________
Company Address: _________________________________________________
Company Telephone: _______________________________________________
Date: _____________________________________________________________
By: _______________________________________________________________
BID FORM
LAWN MAINTENANCE
Elderly Village
The undersigned having familiarized (himself/themselves) with the local conditions affecting the cost of the work and having familiarized (himself/themselves) with the Scope of the Work and list of Development/Neighborhoods, proposes to furnish all labor, materials, equipment and services required for lawn maintenance at the above neighborhood.
Grass Cutting per cutting $_____________
Edging per edging $_____________
Trimming per trimming $_____________
Weeding per time $_____________
Total unit of work items $_____________
Total Unit Cost per cutting x29 Grand Total $_______________
The bidder does hereby certify that they understand and agree that the contract will be awarded to the lowest responsible bidder, and the Tifton Housing Authority may limit the number of contracts that are awarded to a single bidder. This bid shall remain in effect for sixty (60) days following the date of the bid opening and may not be withdrawn during this time without the consent of the Tifton Housing Authority. The bidder understands and agrees that the Tifton Hosing Authority may add or delete work items in this contract at the price bid per work item.
Company Name: ___________________________________________________
Company Address: _________________________________________________
Company Telephone: _______________________________________________
Date: _____________________________________________________________
By: _______________________________________________________________
BID FORM
LAWN MAINTENANCE
Maple Street
The undersigned having familiarized (himself/themselves) with the local conditions affecting the cost of the work and having familiarized (himself/themselves) with the Scope of the Work and list of Development/Neighborhoods, proposes to furnish all labor, materials, equipment and services required for lawn maintenance at the above neighborhood.
Grass Cutting per cutting $_____________
Edging per edging $_____________
Trimming per trimming $_____________
Weeding per time $_____________
Total unit of work items $_____________
Total Unit Cost per cutting x29 Grand Total $_______________
The bidder does hereby certify that they understand and agree that the contract will be awarded to the lowest responsible bidder, and the Tifton Housing Authority may limit the number of contracts that are awarded to a single bidder. This bid shall remain in effect for sixty (60) days following the date of the bid opening and may not be withdrawn during this time without the consent of the Tifton Housing Authority. The bidder understands and agrees that the Tifton Hosing Authority may add or delete work items in this contract at the price bid per work item.
Company Name: ___________________________________________________
Company Address: _________________________________________________
Company Telephone: _______________________________________________
Date: _____________________________________________________________
By: _______________________________________________________________
BID FORM
LAWN MAINTENANCE
Bellview Circle/Avenue
The undersigned having familiarized (himself/themselves) with the local conditions affecting the cost of the work and having familiarized (himself/themselves) with the Scope of the Work and list of Development/Neighborhoods, proposes to furnish all labor, materials, equipment and services required for lawn maintenance at the above neighborhood.
Grass Cutting per cutting $_____________
Edging per edging $_____________
Trimming per trimming $_____________
Weeding per time $_____________
Total unit of work items $_____________
Total Unit Cost per cutting x29 Grand Total $_______________
The bidder does hereby certify that they understand and agree that the contract will be awarded to the lowest responsible bidder, and the Tifton Housing Authority may limit the number of contracts that are awarded to a single bidder. This bid shall remain in effect for sixty (60) days following the date of the bid opening and may not be withdrawn during this time without the consent of the Tifton Housing Authority. The bidder understands and agrees that the Tifton Hosing Authority may add or delete work items in this contract at the price bid per work item.
Company Name: ___________________________________________________
Company Address: _________________________________________________
Company Telephone: _______________________________________________
Date: _____________________________________________________________
By: _______________________________________________________________
BID FORM
LAWN MAINTENANCE
William Johnson - Chinaberry, Omega, GA
The undersigned having familiarized (himself/themselves) with the local conditions affecting the cost of the work and having familiarized (himself/themselves) with the Scope of the Work and list of Development/Neighborhoods, proposes to furnish all labor, materials, equipment and services required for lawn maintenance at the above neighborhood.
Grass Cutting per cutting $_____________
Edging per edging $_____________
Trimming per trimming $_____________
Weeding per time $_____________
Total unit of work items $_____________
Total Unit Cost per cutting x29 Grand Total $_______________
The bidder does hereby certify that they understand and agree that the contract will be awarded to the lowest responsible bidder, and the Tifton Housing Authority may limit the number of contracts that are awarded to a single bidder. This bid shall remain in effect for sixty (60) days following the date of the bid opening and may not be withdrawn during this time without the consent of the Tifton Housing Authority. The bidder understands and agrees that the Tifton Hosing Authority may add or delete work items in this contract at the price bid per work item.
Company Name: ___________________________________________________
Company Address: _________________________________________________
Company Telephone: _______________________________________________
Date: _____________________________________________________________
By: _______________________________________________________________
BID FORM
LAWN MAINTENANCE
Ed Powell - Maple, Street, Omega, GA
The undersigned having familiarized (himself/themselves) with the local conditions affecting the cost of the work and having familiarized (himself/themselves) with the Scope of the Work and list of Development/Neighborhoods, proposes to furnish all labor, materials, equipment and services required for lawn maintenance at the above neighborhood.
Grass Cutting per cutting $_____________
Edging per edging $_____________
Trimming per trimming $_____________
Weeding per time $_____________
Total unit of work items $_____________
Total Unit Cost per cutting x29 Grand Total $_______________
The bidder does hereby certify that they understand and agree that the contract will be awarded to the lowest responsible bidder, and the Tifton Housing Authority may limit the number of contracts that are awarded to a single bidder. This bid shall remain in effect for sixty (60) days following the date of the bid opening and may not be withdrawn during this time without the consent of the Tifton Housing Authority. The bidder understands and agrees that the Tifton Hosing Authority may add or delete work items in this contract at the price bid per work item.
Company Name: ___________________________________________________
Company Address: _________________________________________________
Company Telephone: _______________________________________________
Date: _____________________________________________________________
By: _______________________________________________________________
Addendum #1 - SCOPE OF THE WORK
LAWN MAINTENANCE SCHEDULE
March 1st thru May 31st, every fourteen (14) days
June 1st thru September 30th, every seven (7) calendar days
October 1st thru November 30th, every fourteen (14) days
December - February once per month
The Tifton Housing Authority reserves the right to increase or decrease the frequency of the cutting. No cutting permitted on Sundays.
GRASS CUTTING
Before the grass is mowed and trimmed, the grounds will be policed to remove and appropriately discard any debris and foreign materials. This includes any item that, if struck, could become a projectile that would cause damage or injury. Please remove any materials which would be shredded by the mower or trimmers, causing the area to be left in an unsightly manner. If any material is shredded, the appropriate measure will be taken to remove the shredded material. All trimming and debris/foreign materials will be disposed of off the site after each cutting. Weeds must be cut near stream at Elderly Village.
The grass will be cut to a height of 2 to 2½inches.
EDGING
All curbing, walkways, buildings, and paved areas abutting grass areas will be edged every cutting to provide an angle cut that has appearance of a mechanical rigid blade edger to insure a neat and clean appearance. The grass must not be allowed to extend onto the paved area.
TRIMMINGS
All shrubbery shall be trimmed to proper shape and size every to establish proper growth habits. All shrubbery will be trimmed every cutting, as needed. This includes the removal of any foreign growth that may be in the shrubbery. All lower branches of trees will be pruned to maintain a clearance of six (6) feet from the ground. Crepe Myrtles will not be allowed to bush at the base. All pruning/trimming shall be done in accordance with recommended practices for pruning (University of Georgia, Extension Services Circular 482, "Pruning Ornamental Shrub").
WEEDING
Weeds and grass around shrubbery, trees, light poles, electrical transformers and clothesline poles will be trimmed and removed after every cutting. Remove weed and grass from all walks, curbs, street gutters, sidewalks, driveways, parking bays and play areas. The area along fencing will be kept free of foreign growth so that this area can be cut with a mower and gas trimmer. Chemical treatment may be used to control weeds at buildings, transformers, clothesline poles and light poles. A pattern of not more than six (6) inches wide must be used. All grass in the joints and cracks of the paved surfaces will be removed and debris disposed of off the site.
CLEAN UP
All sidewalks, street and gutter will be swept free of grass clippings and trimmings from the shrubbery. All grass clippings and trimmings from the shrubbery will be removed from the property. Burning of trash, grass clippings or shrubbery trimmings on site will not be permitted.
MISCELLANEOUS
The following are minimal standards that shall be adhered to by all prospective bidders.
All employees shall be properly identified by a uniform with the name of the firm. The uniform can be a t-shirt and ball cap or at a minimum, a picture identification card displaying their name and company name. Regardless of the method of identification, the employee shall always be properly dressed in a professional manner. The contractor will not employ any person who is on the debarred list or has been banned from Tifton Housing Authority properties.
The contractor will always insure proper supervision of personnel. Any complaints or problems with their employees shall be handled within twenty-four (24) hours of the complaint.
The contractor will certify that products used during the execution of the contract are of good quality and are approved for the use intended.
Within two (2) working days after the cutting sheet is turned in to the Tifton Housing Authority, a THA representative will inspect the areas that have been serviced. During the inspections, THA shall identify all areas that have substandard conditions. The contractor will be contacted to meet with the representative of THA to review the substandard conditions found. After the contractor has completed the items on the inspection, he/she will contact a Tifton Housing Authority representative for an additional inspection. Failure of the contractor to correct the problems within twenty-four (24) hours or the recurrence of the problem on future inspections may be grounds for contract cancellation without additional compensation. All cutting sheets will be turned into the Tifton Housing Authority for each development/neighborhood, no later than the next working day after completion of the cutting.
The Owner reserves the right to cancel the contract at any time upon thirty (30) days' notice with or without cause. If the contract is canceled, the contractor will be due only those monies due for services rendered up to the point of cancellation.
The Contractor shall coordinate the work in such a manner as to reduce to a minimum disturbances and inconveniences to the residents. Any damage caused to the resident's property shall be restored to the original condition at the contractor expense.
The Contractor shall take all precautions for the safety to the public and shall assume liability in connection therewith.
The Contractor shall protect existing structures, windows, trees, and shrubs subject to damage during the process of work. The Contractor shall be responsible for replacement or repair of any part of the building or property damaged by him or his employees during this work.
COMMUNICATION
Contractor will provide a contract number and fax machine number at his/her business location, which will allow the Owner to contact the Contractor regarding complaints or problems. This telephone and fax machine shall always remain connected and active during the life of the contract.
REFERENCES, EQUIPMENT AND PERSONNEL
A list for equipment to be used on the contract must be submitted with the bid. This list will show the manufacturer of the equipment, the model number and when the equipment was purchased.
A list of the number of personnel employed must be submitted.
OPTION CLAUSE
The Tifton Housing Authority, at its sole option, may renew this contract for an additional contract period at the same terms, conditions, and prices per cutting.
PAYMENT
This is a unit price contract The Contractor will be paid for work performed. the Tifton Housing Authority will make payment on a bi-weekly basis. It will be for work completed, inspected, and approved the previous week. All work must be completed, inspected, and approved by Friday of the week prior to the week payment is made.
INSURANCE
The Contractor shall have Public Liability Insurance in an amount of, not less than, $250,000.00 for each occurrence to cover claims for injury or death of one or more persons because of accidents, which may occur, or result from operations under the contract. The Contractor shall also have Property Damage Insurance in an amount of, not less than, $10,000.00 to cover claims for property damage, which might arise from operations under this contract. The Contractor shall also have Worker's Compensation Insurance, regardless of the number of employees and Automobile Liability Insurance in an amount as specified by the State of Georgia statute. The Contractor shall provide the Tifton Housing Authority with proof of the above required insurances to proceed with the contract. The insurance shall be in force for the duration of the contract. Failure to maintain the insurance in force could result in the termination of the contract.
SCHEDULE OF EVENTS
The Contractor will submit to the Tifton Housing Authority a schedule showing the calendar days they will be cutting the properties under contract. This schedule must be submitted prior to a notice to proceed with the contract. This schedule will be for the period from May 1st thru April 30th .
MINIMUM WAGE REQUIREMENT
A schedule of minimum rates of pay applicable to this contract is included. Each employee must be paid the minimum hourly wage for the position listed on the wage rate determination. The Contractor shall submit to the Tifton Housing Authority a payroll listing once a month. the Tifton Housing Authority will provide a form to the contractor, a computerized payroll is acceptable. A representative of the Tifton Housing Authority will interview each employee, to verify adherence to the minimum pay rates.
ORDINANCE COMPLIANCE
The Contractor shall give all notices and comply with all applicable laws, ordinances, codes, rules, and regulations, and shall obtain and pay for all required permits before commencing work. The Contractor shall pay landfill fee and permits. The EPA and EPD must certify any chemical used for use around human and animals. Copies of the Material Safety Data Sheet for each product must be given to the Tifton Housing Authority for review before the chemical can be used.
NON-COLLUSIVE AFFIDAVIT
STATE OF ____________________
COUNTY OF __________________
_____________________________________, being first duly sworn, deposes and says that he is _________________________________________________________,
(a partner or office of the firm)
The party making the foregoing proposal of bid, that such proposal or bid is genuine and not collusive or sham; that said bidder has not colluded, conspired, connived or agreed, directly or indirectly, with any bidder or person, to put in a sham bid or to retain form bidding, and has not in any manner, directly or indirectly, sought by agreement or collusion, or communication or conference with any person, to fix the bid price of affiant or of any other bidder, or to fix any overhead, profit, or cost element of said bid price, or that of any other bidder, or to secure any advantage against
THE TIFTON HOUSING AUTHORITY
Or any person interested in the proposed contract; and that all statements in said proposal or bid are true.
______________________________________ (Signature of Bidder, if Bidder is an Individual)
______________________________________ (Signature of Partner if Bidder is a Partnership)
______________________________________
(Signature of Officer if Bidder is a Corporation)
Subscribed and sworn to before me
this __________day of ____________,
________________________________
Notary Public
My commission expires _________________
THE HOUSING AUTHORITY OF THE CITY OF TIFTON
BANKING SERVICES
REQUEST FOR PROPOSALS
I. INTRODUCTION
The Housing Authority of the City of Tifton (the Authority) (THA) hereby invites qualified, licensed, and insured banking institutions (banks) in Tifton, Georgia who possess the capability and expertise to provide depository and various banking services for the Authority to submit proposals for the provision of those services, according to the requirements of this Request for Proposals (RFP).
The types of services covered by this RFP are limited to demand deposits and related services. The placement of time deposits is not addressed in this RFP. The Authority intends to follow its current policy of placing time deposits based on competitive bidding.
II. PERIOD
The selected banking institution shall be designated as the Authority's depository for an initial one-year term projected to commence July 1, 2023. The depository agreement shall contain an automatic annual renewal clause which may be used in the two (2) following years, thereby providing for three (3) years of depository and banking services. At the end of the three-year period, the contract shall be renewable on a monthly basis until another contract is signed. If the banking institution fails to provide the services required under the contract, the Authority will be entitled to cancel the contract after 90 days written notice to the bank. If the Authority fails to maintain the required compensating balances, the bank will be entitled to cancel the contract after 90 days written notice to the Authority.
III. INSTRUCTIONS FOR RFP SUBMISSION
All participating institutions must submit audited financial statements for the latest fiscal year. If available, include in the submission any reports available for the local institution.
If a bank proposes an individual service, the Authority will assume the proposal meets or exceeds the RFP's requirements. The Authority reserves the right to reject a bank's entire proposal if any required service cannot be provided. All proposals must be submitted in sealed envelopes bearing the words "THE HOUSING AUTHORITY OF THE CITY OF TIFTON, BANKING SERVICES PROPOSAL." It is the sole responsibility of the bank to ensure that the proposal arrives with the name of the bank and bears the handwritten original signature of a bank officer authorized to represent that institution. The name, office address, and office telephone number of the institution's contact person must be clearly identified.
Each institution will be allowed to submit only one proposal.
All questions must be submitted in writing to sclark@tiftonhousing.org and will be answered in writing. Telephone questions to individuals within the Authority are not encouraged but will be permitted in the interest of good communications. Nevertheless, the Authority will be bound only by those communications which are in writing. All other communications will be considered unofficial.
Proposals should be returned to the following address:
Shaundra Clark
Executive Director
P. O. Box 12
Tifton, Georgia 31793
Completed proposals and bid forms must be received by the Authority no later than March 15, 2023.
IV. SELECTION CRITERIA
The selection criteria for evaluation of the proposal are as follows:
1. Satisfactory financial condition of institution.
2. Completeness of proposal.
3. Cost per unit and/or compensating balances.
4. Average interest rate on money market investment or
equivalent accounts.
While not required, consideration may be given to banks that can offer other services which may include in-house servicing of merchant services, and competitive rates on certificates of deposits, among others. If additional services are available, please provide a summary description with your proposal.
All proposals meeting the minimum criteria will be ordered into a list of qualifying competitors based upon cost per unit and/or compensating balances. Although net total cost to the Authority will be the principal factor in the selection of institution, other aspects of the proposal may cause the contract to be awarded to a bank other than the bank submitting the lowest cost per unit/compensating balances. In short, the award of the contract will be made to the bank whose proposal best complies with ALL requirements set forth in the RFP.
The Authority will evaluate the proposals and will ask the necessary clarifying questions. These questions, if necessary, will be in writing and the written answers received will become part of the official proposal(s).
When the Authority has tentatively selected a proposal, it may request a conference(s) to formulate plans, clarify any unclear areas, and complete any necessary negotiations prior to the formal award of the contract. During the conference(s), the Authority may choose to modify its choice of a selected proposal or to reject all proposals if such an action is in the Authority's best interest.
Based upon the Authority's proposal review and conference(s), a contract will be prepared, and a recommendation for contract approval will be made to the Board of Commissioners. Upon the approval, a contract will then be executed.
V. TERMS AND CONDITIONS
The institution awarded the contract must execute a contract within thirty days after the award of the contract. Otherwise, the Authority may award the contract to the next most qualified proposal or call for new proposals.
In no event will the Authority permit modifications to the proposed cost per unit and/or compensating balance(s). The proposal as submitted will be the last and final offer.
All participating institutions should thoroughly examine and be familiar with the proposal specifications. The failure or omission of any bank to receive or examine those specifications will not relieve that bank of obligations with respect to either the proposal or the subsequent contract.
The proposal specifications indicate the number of transactions anticipated in each account. Although these estimates represent the Authority's expected activity, the Authority does not guarantee them as minimum or maximum volumes.
Participating institutions must meet the following minimum qualifications:
1. The depository bank must maintain a full-service branch or home office in Tifton, GA.
2. The depository bank must agree to at all times maintain Portfolio Securities in amounts equal to or greater than 100% of the average daily bank ledger balance, excluding those amounts insured by the FDIC. No exception will be made to this requirement.
3. The depository bank must agree to the terms as stated in the "General Depository Agreement", a contract between THA and the depository bank with the U.S. Department of Housing and Urban Development listed as a third party. (See attached)
VI. SCOPE OF REQUIRED BANKING SERVICES
A. ACCOUNT STRUCTURE
The current accounts and their general characteristics are described below.
THA General Fund Checking: This account will serve as the checking account for the Authority's General Fund as well as the General Depository Account. Funds will be disbursed by means of electronic payments (ACH), electronic withdrawals for pre-authorized transactions, and checks. Funds will be received from the U. S. Department of Housing and Urban Development via ACH monthly.
Capital Fund Checking: This account will contain all funds used in the authority's modernization projects. Funds will be received from HUD in the General Fund Receipts Account via ACH and will be transferred to this account. Only a few checks per month will be drawn on the account.
Special Projects Checking Account: This account will contain funds of the Authority's local (non-federal) fund. Occasional deposits and in-house transfers will be made.
Tifton Housing Partners General Fund Checking: This account will serve as the checking account for the Authority's General Fund as well as the General Depository Account. Funds will be disbursed by means of electronic payments (ACH), electronic withdrawals for pre-authorized transactions, and checks. Funds will be received from the U. S. Department of Housing and Urban Development via ACH on a monthly basis.
Tifton Housing Partners Reserve Account: This account will serve as the reserve account for the Non-Profit. A very limited number of checks will be drawn from this account.
Tifton Housing Partners Surplus Account: This account will serve as the surplus account for the Non-Profit. A very limited number of checks will be drawn from this account.
The Authority reserves the right to change accounts from non-interest to Money Market Investment (high interest) or to Interest Checking or vice versa at any time based on Bank availability. In addition, the Authority reserves the right to change the bank account structure in order to accommodate the use of a concentration account with accompanying zero-balance accounts. Finally, the Authority reserves the right to close existing accounts or to open new accounts as operations require. All new accounts opened during the contract period are governed by the same rules and provisions as existing accounts.
B. REPORTING REQUIREMENTS
The awarded bank will provide the following documentation and/or reports to the Authority's Finance Department:
1. An electronic internet system to make transfers and provide the book balance and the collected balance for various accounts. Additionally, the electronic system must provide:
- Daily reports on balances in each account
- Daily debit and credit transactions for each account
- Inquiry status of checks
- Request and confirmation of stop payments
- Transfer funds between agency accounts
- Transfer funds to other financial institutions
- View and print paid checks and deposits
2. Timely provision of debit and/or credit memoranda for ALL transactions except deposits made directly by the Authority and checks written by the Authority.
3. Monthly account statements. All such statements should be received by the Authority by the tenth business day of each month. For checking accounts, the bank should provide a statement listing checks in numerical order along with the check images presented in numerical order.
4. A quarterly report from the Federal Reserve listing all collateral securities pledged to cover deposits of the Authority.
C. AVAILABILITY OF FUNDS
The bank will guarantee immediate availability of all wire transfers, U.S. Treasury Checks, and ACH deposits. All other checks will be based on the bank's availability schedule.
D. OTHER SERVICES
The Authority intends to pay for all services as stated as specified within this RFP unless specifically waived by the institution. Banking documents and services customarily provided to demand deposit customers will be provided to the Authority at no charge. These documents and services may include deposit slips, deposit bags, stop payment forms, endorsement stamps, and investment advisory services.
The institution awarded the contract must have the capability of handling direct deposit for payroll which would include other banks.
Furnish research items within 24 hours.
No return check charges on any account.
Bank must assign a relationship manager for the
VII. PROCEDURE FOR SUBMISSION OF PROPOSALS
A. FORM OF PAYMENT
The Authority will compensate the awarded bank through compensating balances intentionally left on deposit with the bank. These balances will be non-interest bearing regardless of the nature of the demand deposit account. The value of the services provided during the month will determine the compensating balance needed to pay for those services. Any over or under compensation will be carried over to the next month as an adjustment to the compensating balance needed for that month.
The initial target balance will be the balance specified in the proposal form. Each account's portion of the target balance will be prorated by the value of services rendered for the account.
B. CALCULATING THE REQUIRED COMPENSATING BALANCE
Monthly Activity Service Charges / (1 - Reserve Requirement)
Earnings Allowance
The terms are defined as follows:
Monthly Activity Service Charges: The sum of all charges for the month's actual activity based on unit prices specified in the proposal multiplied by the actual monthly activity. The unit prices will remain constant over the entire contract term.
Earnings Allowance: The earnings allowance will be the monthly average of the 13-week U.S. Treasury Bill average weekly auction results (coupon equivalent yield) as reported by the U.S. Department of the Treasury (www.treasury.gov). This amount will be converted to a monthly rate (12.1667 months per year). In completing the bid form, all bidders will assume an earning allowance of 1.94%
Reserve Requirement: The banks current reserve requirements specified by the Federal Reserve Bank as of February 7, 2023. In completing the proposal, all bidders will use a reserve requirement of 10.0%.
An example of the Required Compensating Balance calculation is shown below:
Monthly Service Charge: $1,000.00
Treasury Bill Rate: 1.94%
Reserve Requirement: 10.00%
1,000 / (1 - .10) = $696,833 Required Compensating Balance
1.94 % / 12.1667
Earnings in excess of Required Compensating Balances will be split to each account based on their outstanding balance for the month.
