Eligibility requirements; bidding; awards process.

# (a)

To become eligible to submit a bid under this subsection:

# (1)

An insured institution shall provide the Mayor, or the CFO pursuant to § 47-351.02(c), with information from which the Mayor, or the CFO pursuant to § 47-351.02(c), can calculate a community development score under § 47-351.07. This information may include, but need not be limited to, current community development data, Community Reinvestment Act statement and evaluation with a minimum of “satisfactory” rating on its latest Community Reinvestment Act examination, and Home Mortgage Disclosure Act reports.

# (2)

A noninsured institution shall submit to the Mayor, or the CFO pursuant to § 47-351.02(c), a statement of Equal Employment Opportunity or Affirmative Action.

# (b)

Each year the Mayor, or the CFO pursuant to § 47-351.02(c), shall compile a list of eligible financial institutions that submit the information pursuant to the requirements of subsection (a) of this section.

# (c)

The Mayor, or the CFO pursuant to § 47-351.02(c), shall send the solicitations for bids to all financial institutions that are eligible. The Mayor, or the CFO pursuant to § 47-351.02(c), shall remove from the eligible list those financial institutions that the Mayor, or the CFO pursuant to § 47-351.02(c), has deemed to be financially unsound and those bidders that have put District funds at risk pursuant to § 47-351.13(a).

# (d)

In solicitations for bids, the Mayor, or the CFO pursuant to § 47-351.02(c), shall include the following information:

# (1)

In the case of deposits or investments:

(A) The term of the deposit or investments;

(B) The approximate amount available for deposit or investment;

(C) The evaluation criteria; and

(D) All other information required by the Mayor, or the CFO pursuant to § 47-351.02(c), or that is necessary for compliance with this subchapter.

# (2)

In the case of financial services:

(A) A list of the financial services needed;

(B) The evaluation criteria; and

(C) All other information required by the Mayor, or the CFO pursuant to § 47-351.02(c), or that is necessary for compliance with this subchapter.

# (e)

The Mayor, or the CFO pursuant to § 47-351.02(c), may solicit bids for either single financial services or groups of financial services.

# (f)

If applicable, a bidder shall provide the following information in a bid:

# (1)

The identity of the bidder;

# (2)

The minimum and maximum amount of District funds the bidder will accept;

# (3)

The rate of return;

# (4)

The type of financial services to be provided and the cost to the District for the financial services;

# (5)

The amount of the compensating balances, if any, and the rate of return on any deposit used for a compensating balance;

# (6)

A description of the experience and capacity of the financial institution to perform the banking business for which the bid is submitted;

# (7)

Information necessary to assess risk and liquidity; and

# (8)

Any other information required by the Mayor, or the CFO pursuant to § 47-351.02(c).

# (g)

The Mayor, or the CFO pursuant to § 47-351.02(c), shall make available to each bidder the notice of the bid award including the terms of the bid award.

# (h)

Two or more eligible financial institutions may submit a joint bid.

# (i)

The Mayor, or the CFO pursuant to § 47-351.02(c), may at any time prior to the notice of award withdraw a bid solicitation for good cause. The Mayor, or the CFO pursuant to § 47-351.02(c), shall notify any financial institution that has submitted a bid prior to the withdrawal of the bid solicitation.

# (j)

The Mayor, or the CFO pursuant to § 47-351.02(c), may retain or maintain deposits, investments, or financial services agreements at a financial institution which is a successor to the contractual agreement.