Project Information

Bid Title

Banking Services and Liquidity Facilities

Issuing Agency

City of Modesto

Location

California

Published Date

Jan 11, 2026

Closing Date

Jan 27, 2026

Government Level

State & Local

Status

Closed

Original Source

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Bid Documents

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Project Description

Project ID:

Title: Banking Services and Liquidity Facilities

Addenda: 1

Release Date: 12/19/2025

Due Date: 1/27/2026

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Banking Services and Liquidity Facilities

Last updated by Addendum #1 on Jan 10, 2026 10:14 AM See what changed

Request For Proposal

Finance

20911 , 91804 , 91849 , 94600 , 94625 ... show all

Project ID: RFP-00011

Release Date: Friday, December 19, 2025

· Due Date: Tuesday, January 27, 2026 11:00am

Posted Friday, December 19, 2025 2:40pm

All dates & times in Pacific Time

Draft Response No Bid15 days, 17 hours, 23 minutes

Post Information

Posted At:Fri, Dec 19, 2025 2:40 PM
Sealed Bid Process:Yes (Bids Sealed / Pricing Sealed)
Private Bid:No

Overview

Summary

NOTICE IS HEREBY GIVEN that the City of Modesto, County of Stanislaus, State of California (“City”), will receive proposals (each, a "Proposal") through its OpenGov Procurement portal from qualified Proposers (each, a “Proposer”) for the furnishing of Banking Services and Liquidity Facilities services (the “Services”) for the City of Modesto, Finance Department, Accounting Division.

Background

The City of Modesto is seeking proposals for banking services from financially secure Federal or State chartered banking institutions that can offer the highest quality of service at the lowest overall cost to the City.

Modesto is the largest city in Stanislaus County and the northern San Joaquin Valley, with a population of approximately 219,000 persons. The city is located on State Route 99, which links it to other Central Valley cities, including Sacramento (82 miles north), Stockton (32 miles north), and Fresno (96 miles south). Rail service links Modesto to the greater region. Passenger service is available outside of Downtown Modesto at the Burlington Northern/Santa Fe Railroad’s (Amtrak) Lakewood East Station, in eastern Modesto. Modesto is also located adjacent to the Tuolumne River, which flows out of Yosemite National Park. The Tuolumne River Regional Park includes a parkway along the river. In combination with Dry Creek Regional Park, the city has extensive river access and excellent recreational opportunities, both regionally and locally.

The City’s primary banking relationship is currently maintained at Bank of Montreal (BMO). The City has determined that it is appropriate at this time to formally solicit proposals for its banking arrangements in order to establish a new contract, commencing in mid-2026. The City wishes to create efficiencies; make improvements, where possible; and take advantage of new, applicable technologies. The City intends to maintain all banking services with one financial institution to maximize cash flow and minimize administrative costs. As such, banking services proposals must include all services currently utilized by the City. Proposals for partial services or a different financial system will not be considered. This RFP does not cover any other services, such as custody services, certificates of deposit, investments, or bond trustee services.

In addition, the banking services firm selected will be required to provide liquidity support in the form of an irrevocable, direct pay Letters of Credit (LOC) or Standby Certificate Purchase Agreement (SCPA) for two outstanding variable rate debts.

• City of Modesto 2008 Lease Revenue Refunding Bonds (2008 LRBs), which were outstanding in the amount of $35,995,000 as of June 30, 2025. The new liquidity facility will need to be in place prior to the expiration of the existing LOC on June 08, 2026.

City of Modesto 2008A Water Refunding Revenue Certificates of Participation (2008A Water COPs), which were outstanding in the amount of $37,680,000 as of June 30, 2025. The new liquidity facility will need to be in place prior to the expiration of the existing SCPA on June 08, 2026.

Timeline

RFP Issued:

December 19, 2025

Questions Due via City's OpenGov Procurement portal:

January 2, 2026, 5:00pm

Addendum Issued (if required):

January 13, 2026

Proposal Due Date & Time:

January 27, 2026, 11:00am

Approximate Contract Award Date:

May 2026

Commodity Codes

• NAICS 561210Facilities Support Services

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