Supply of Goods and Services for Ocean Springs School District

Background
The Ocean Springs School District, located in Ocean Springs, Mississippi, is seeking bids for depository services to manage its funds. This contract aims to select a financial institution that can provide secure and efficient banking services in accordance with Mississippi state laws. The selected bank will be responsible for managing the district's funds from July 1, 2026, through June 30, 2029.

Work Details
The contract involves providing depository services for the Ocean Springs School District funds. Key specifications include:

1. Each bank account must be kept separate with monthly statements provided that include front and back images of all checks. Interest must be paid on each account.

2. Statements must be available online within three working days of the month.

3. Banks must provide evidence of compliance with Mississippi Code requirements regarding security for deposits.

4. The selected bank will execute a Collateral Security Agreement and a Custodial Agreement to ensure the district's preferred claim to pledged securities in case of default.

5. Bidders must submit a firm 'net' bid representing the actual interest rate offered to the school district without additional service charges.

6. The district will consider banks located within Ocean Springs only and reserves the right to re-bid if market conditions change during the term.

Period of Performance
The period of performance for this contract is from July 1, 2026, through June 30, 2029.

Place of Performance
The services will be performed at the Ocean Springs School District Business Office located at 2300 Government Street, P.O. Box 7002, Ocean Springs, Mississippi.

Bidder Requirements
Bidders must be qualified public funds depositories approved by the Mississippi State Treasurer and have one or more offices located within Ocean Springs, MS. They must also meet specific capital ratios and provide a Statement of Condition and State Depository Certificate with their bid.