Proposals will be received at the office of the Treasurer of the City of North Ridgeville, Ohio until 11:00 A.M. on May 4, 2017 from any eligible financial institution, which may desire to submit a proposal to be designated as a public depository of the active, inactive, or interim deposits of the City of North Ridgeville as provided by law.
The contract period will be from July 1, 2017 through September 30, 2020
The aggregate maximum amount of interim deposits of public monies at any time during the period of designation will be Twenty Million Dollars ($20,000,000.00).
The maximum amount of active deposits of public monies subject to deposit at any time during the period of designation will be Ten Million Dollars ($10,000,000.00).
1. Each proposal shall be accompanied by a financial statement meeting the requirements of Section 135.10 and 135.08 of Ohio Revised Code.
2. Award of Active and Interim deposits will be made by City Council at its regular meeting June 19, 2017.
3. Proposals should be sealed and clearly marked “City of North Ridgeville – Proposal for Depository Contracts” and delivered to the undersigned at the address indicated.
Timothy Pope, Treasurer
City of North Ridgeville
7307 Avon Belden Rd.
North Ridgeville, Ohio 44039