Specifications include, but are not limited to: 1. Account Structure A listing of the current accounts and services in use is found on Attachment A. Under this contract, the City will require the option to pay for services on a fee or compensating balance basis. The City wants all its funds to be continuously earning at the best, then-current interest rates. The City may be required or may desire to open additional accounts or close/change accounts during the contract period. Any new accounts shall be charged at the same contracted amount. The City does not currently utilize sweeps. All accounts are interest bearing and traditionally fees have been paid through compensating balances. Since rates are expected to rise during this contract period, an automated, daily sweep to a AAA-rated money market mutual fund (or bank alternative, if applicable and competitive) should be proposed in order to reach full investment goals and to minimize collateral requirements and monthly regulatory assessments. An SEC registered government, or enhanced government, money market mutual fund rated AAA by at least one nationally recognized rating service should be used for the sweep. The money market mutual fund must strive to maintain a $1 NAV. If the bank has a valid alternative to an SEC money market mutual fund which is in compliance with the City’s Investment Policy, it may be presented. Neither a repurchase agreement nor an offshore account of any type is acceptable as a sweep investment vehicle. a. Describe the bank’s recommended account structure including the type of accounts and whether a ZBA/sweep will be available. b. Describe the bank’s ability to provide a ZBA-Master structure. Can the bank sweep from individual accounts or must the sweep go through a master account? c. How will the sweep activity be reported? Is a separate sweep account report available? d. If a money market fund is to be used, provide the prospectus for the sweep fund. e. On interest bearing accounts, if an index is used on what is the rate based? f. Complete the table below with the last 12 months history and current rates.