Specifications include, but are not limited to: execute a Depository Agreement with GEDC (hereinafter referred to as the “Depository Agreement”) substantially in the form attached as Exhibit A. The successful Depository will also be required to execute a Security Agreement (Pledge) substantially in the form of Exhibit B hereto (the “Pledge Agreement”), and to execute and cause to be executed by the Custodian named therein, a Custodian Agreement substantially in the form of Exhibit C hereto (the “Custodian Agreement”). The term of the Depository Agreement shall be for a period (primary and renewals) not to exceed five years. The primary objectives of the Depository Agreement are as follows: • To seek an institution that is capable of providing banking services and willing to be attentive to GEDC’s money matters; • To maximize the total dollars earned by GEDC on account balances in order to be prudent and effective custodians of the financial resources; • To adequately compensate the Depository for services provided, subject to competitive forces in the market place; • To maintain a good working relationship with the Depository; and • To fully comply with the requirements of Texas Local Government Code Chapter 105, as amended (the “Local Government Code”).
