The City of Snyder (City) is requesting proposals for banking services and the associated Bank Depository Agreement; Banking institutions within the City of Snyder to serve as prime depository of the City of Snyder and maintain custody of the funds of the City for a period of five years from October 1, 2025 to September 30, 2030. Through this contract the City intends to minimize banking costs, improve operational efficiency, and maximize investment capabilities. The City’s banking structure currently consists of one General Account and an Interest and Sinking Account, along with a Municipal Court Bond Account, Unclaimed Currency Account, and a Certificate of Obligations 2019 Water/Sewer Project Account. All these accounts are interest bearing with the exception of the Municipal Court Bond Account. The General Account is utilized for all payables to the City, including payroll. The remaining accounts are used to manage monies of the City’s various funds and obligations.
