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The DC Code: § 47-351.04 Eligibility requirements; bidding; awards process.

Index47 Taxation, Licensing, Permits, Assessments, and Fees. (Refs & Annos)
a
To become eligible to submit a bid under this subsection:
1
An insured institution shall provide the Mayor, or the CFO pursuant to § 47-351.02(c), with information from which the Mayor, or the CFO pursuant to § 47-351.02(c), can calculate a community development score under § 47- 351.07. This information may include, but need not be limited to, current community development data, Community Reinvestment Act statement and evaluation with a minimum of "satisfactory" rating on its latest Community Reinvestment Act examination, and Home Mortgage Disclosure Act reports.
2
A noninsured institution shall submit to the Mayor, or the CFO pursuant to § 47-351.02(c), a statement of Equal Employment Opportunity or Affirmative Action.
b
Each year the Mayor, or the CFO pursuant to § 47-351.02(c), shall compile a list of eligible financial institutions that submit the information pursuant to the requirements of subsection (a) of this section.
c
The Mayor, or the CFO pursuant to § 47-351.02(c), shall send the solicitations for bids to all financial institutions that are eligible.   The Mayor, or the CFO pursuant to § 47-351.02(c), shall remove from the eligible list those financial institutions that the Mayor, or the CFO pursuant to § 47-351.02(c), has deemed to be financially unsound and those bidders that have put District funds at risk pursuant to § 47-351.13(a).
d
In solicitations for bids, the Mayor, or the CFO pursuant to § 47- 351.02(c), shall include the following information:
1
In the case of deposits or investments:
A
The term of the deposit or investments;
B
The approximate amount available for deposit or investment;
C
The evaluation criteria; and
D
All other information required by the Mayor, or the CFO pursuant to § 47-351.02(c), or that is necessary for compliance with this subchapter.
2
In the case of financial services:
A
A list of the financial services needed;
B
The evaluation criteria; and
C
All other information required by the Mayor, or the CFO pursuant to § 47-351.02(c), or that is necessary for compliance with this subchapter.
e
The Mayor, or the CFO pursuant to § 47-351.02(c), may solicit bids for either single financial services or groups of financial services.
f
If applicable, a bidder shall provide the following information in a bid:
1
The identity of the bidder;
2
The minimum and maximum amount of District funds the bidder will accept;
3
The rate of return;
4
The type of financial services to be provided and the cost to the District for the financial services;
5
The amount of the compensating balances, if any, and the rate of return on any deposit used for a compensating balance;
6
A description of the experience and capacity of the financial institution to perform the banking business for which the bid is submitted;
7
Information necessary to assess risk and liquidity; and
8
Any other information required by the Mayor, or the CFO pursuant to § 47-351.02(c).
g
The Mayor, or the CFO pursuant to § 47-351.02(c), shall make available to each bidder the notice of the bid award including the terms of the bid award.
h
Two or more eligible financial institutions may submit a joint bid.
i
The Mayor, or the CFO pursuant to § 47-351.02(c), may at any time prior to the notice of award withdraw a bid solicitation for good cause.   The Mayor, or the CFO pursuant to § 47-351.02(c), shall notify any financial institution that has submitted a bid prior to the withdrawal of the bid solicitation.
j
The Mayor, or the CFO pursuant to § 47-351.02(c), may retain or maintain deposits, investments, or financial services agreements at a financial institution which is a successor to the contractual agreement.

Historical and Statutory

Prior Codifications 1981 Ed., § 47-351.4. Emergency Act Amendments See Historical and Statutory Notes following § 47-351.01. Legislative History of Laws For legislative history of D.C. Law 12-56, see Historical and Statutory Notes following § 47-351.01. For legislative history of D.C. Law 12-264, see Historical and Statutory Notes following § 47-351.01. DC CODE § 47-351.04 Current through December 11, 2012

Credits

(Mar. 18, 1998, D.C. Law 12-56, § 2(c), 44 DCR 6933; Apr. 20, 1999, D.C. Law 12-264, § 52(b), 46 DCR 2118.)