Specifications include, but are not limited to: The City desires to maximize its cash availability through the use of two primary accounts (Investment, and Savings). Savings Account Primary Account for the extra money the City has for each fund. Will transfer funds in and out of this account on a needed basis to the City’s Investment Account. No checks written on this account. Water Sinking Fund Money transferred on a monthly basis to ensure funds are set aside for Water Bond that interest is paid on bi-annual basis and the principal will be paid at the end of the bond. There are 8 to 10 other small accounts with limited numbers of transactions utilized by the City. With one exception these each have less than 50 transactions annually. One account will have approximately 700 transactions annually. A complete list of these and additional information is available if desired. Availability of Funds Deposits will be made periodically during the business day to a designated cashier or location mutually agreed upon by the City and the Bank. The Bank agrees to credit the City’s accounts for items according to the following schedule: Items on the depository-wire transfers, ACH deposits-Same Day Items deposited prior to bank afternoon cutoff-Same Day All City accounts shall be interest bearing, unless specifically listed as non-interest bearing in proposal submitted by Bank. The Bank agrees to accrue the interest earned and credit the respective accounts at the end of the month, unless the Bank provides investment accounts that accrue interest on a daily basis, which would be credited to the respective account daily.