INVESTMENT OPTIONS—The initial response to this RFP should include rate structures and instruments currently available. The Board reserves the right to use any or all investment vehicles offered by the primary and secondary depositories, as it deems to be the most advantageous to the FCBE. The depositories agrees to negotiate with the FCBE, allowing the Board to take advantage of any new type of service or new investment procedure that may become available and permissible for use by a board of education during the term of this agreement. 14. BORROWINGS—Per KRS 160.540, the primary and secondary depositories shall extend credit as needed on legally drawn notes of the Board. The Board reserves the right to negotiate the terms for such borrowings, and is not limited to borrowing funds from the primary depository. 15. CREDIT (Procurement) CARDS—The primary depository shall issue credit (procurement) cards at the direction of the Superintendent, Executive Director of Financial Accounting and Benefits Services to be used for Board purposes. The credit limit for cards shall be established at a mutually agreeable amount. There shall be no fee for these cards. The board reserves the right to use another provider for these exclusive services if the board so desires without conflict to this RFP proposal...
