Financial, Investment Custodial Services

The City of St. Petersburg, Florida, has entered into a contract with U.S. Bank National Association for financial, investment, and custodial services. The contract includes provisions for the appointment of U.S. Bank National Association as the custodian for the City's assets, the provision of professional custodial services, and the payment of fees. The contract also includes requirements for insurance coverage, including commercial general liability, worker's compensation, and financial institution fidelity bond. The key aspects of this contract include: • The City of St. Petersburg, Florida, has appointed U.S. Bank National Association as the custodian for its assets. • U.S. Bank National Association will provide professional custodial services, including receipt, delivery, holding, and registration of securities. • The contract includes provisions for the payment of fees, including an administration fee, securities-transfer fees, trade-processing fees, and distribution fees. • The contract requires U.S. Bank National Association to maintain certain insurance coverages, including commercial general liability, worker's compensation, and financial institution fidelity bond. • The contract has a term of approximately 5 years, with the option to renew for an additional 3-year period.