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2. Custodial Services — The City currently has a $309 million investment <br />portfolio, approximately $245 million of which is in securities maintained by <br />its current Custodian. Currently, Custodial Services are conducted under a <br />separate contract with BNY Mellon and this relationship may be continued. <br />The City requires the Custodian to be thoroughly familiar with the public <br />sector and the investment of public funds. There is no guarantee that the <br />City will use the depository bank for safekeeping but may exercise its option <br />in this area. However, the Bank will be required to have book -entry <br />safekeeping services through the bank. Correspondent processing is not <br />acceptable. Delivery versus payment basis is required to clear securities and <br />report investments to ensure the protection of its security interest in portfolio <br />investments. <br />a. Describe Custodial Services offered by the Bank including confirmation of <br />maturities, expected interest payments, calls ad purchases. Provide <br />samples of confirmation, expected interest payments, and call notices. <br />b. Discuss timelines for receiving month -end reports, statements, and <br />confirmation reports. Are these available on -line? <br />c. Custodial statements must describe assets completely as cost, par and <br />market value as of the end of the month. Please provide a sample. <br />d. Describe the Bank's funds transfer procedures for transferring funds to the <br />City on a same day basis. <br />e. Can this service be paid through account analysis? <br />f. Identify the advantages and disadvantages associated with having the <br />custodial account reside at the Bank that is also the provider of the City's <br />general Banking services. <br />3. Merchant Card Services. The City is hoping to potentially combine credit <br />card merchant services (or some portion of merchant services) with banking <br />services to streamline operations and cash flow as well as operational <br />coordination but is not required to do so. The City currently accepts credit <br />cards over the counter at four (4) locations utilizing its city -wide cashiering <br />system, System Innovators iNovah. The City also accepts credit card <br />payments via the City's website for water utility, business license tax, dog <br />licensing, and limited types of building permits. The City also accepts credit <br />cards at its parking meters. The City desires that the Bank chosen for <br />banking services will have a close working relationship and working history <br />with one or more of the City's merchant services providers if the bank itself <br />does not offer the services under a subsidiary or affiliate. <br />a. How is the applicable interchange fee determined for each transaction? <br />What does the Bank recommend to minimize interchange fees? <br />City of Santa Ana — Banking Services Page 15 <br />55E -49 <br />