3rd Party Investment Custodian

The City of Saco is seeking qualified financial institutions to act as a third‑party custodian for its municipal investment portfolio. The custodian will hold all securities and collateral, coordinate with brokers and advisors, provide detailed reporting, ensure proper income posting, maintain insurance coverage, and submit a fee schedule and sample contract. The RFP requires a PDF proposal with responses to eight specific requirements, a vendor information form, and a sample custodial agreement, to be emailed by the deadline. • Serve as the holding entity for all security transactions and repo collateral. • Demonstrate experience with municipal or comparable custodial work and outline reporting/insurance mechanisms. • Provide fee schedule, sample contract, and meet all submission requirements by July 1, 2022.