{"data":{"id":"us-dc/d.c.-code-47-351.04","jurisdiction":"us-dc","citation":"D.C. Code § 47-351.04","heading":"Eligibility requirements; bidding; awards process.","body":"(a)\nTo become eligible to submit a bid under this subsection:\n(1)\nAn 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.\n(2)\nA 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.\n\n(b)\nEach 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.\n\n(c)\nThe 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).\n\n(d)\nIn solicitations for bids, the Mayor, or the CFO pursuant to § 47-351.02(c), shall include the following information:\n(1)\nIn the case of deposits or investments:\n(A)\nThe term of the deposit or investments;\n(B)\nThe approximate amount available for deposit or investment;\n(C)\nThe evaluation criteria; and\n(D)\nAll other information required by the Mayor, or the CFO pursuant to § 47-351.02(c), or that is necessary for compliance with this subchapter.\n(2)\nIn the case of financial services:\n(A)\nA list of the financial services needed;\n(B)\nThe evaluation criteria; and\n(C)\nAll other information required by the Mayor, or the CFO pursuant to § 47-351.02(c), or that is necessary for compliance with this subchapter.\n\n(e)\nThe Mayor, or the CFO pursuant to § 47-351.02(c), may solicit bids for either single financial services or groups of financial services.\n\n(f)\nIf applicable, a bidder shall provide the following information in a bid:\n(1)\nThe identity of the bidder;\n(2)\nThe minimum and maximum amount of District funds the bidder will accept;\n(3)\nThe rate of return;\n(4)\nThe type of financial services to be provided and the cost to the District for the financial services;\n(5)\nThe amount of the compensating balances, if any, and the rate of return on any deposit used for a compensating balance;\n(6)\nA description of the experience and capacity of the financial institution to perform the banking business for which the bid is submitted;\n(7)\nInformation necessary to assess risk and liquidity; and\n(8)\nAny other information required by the Mayor, or the CFO pursuant to § 47-351.02(c).\n\n(g)\nThe 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.\n\n(h)\nTwo or more eligible financial institutions may submit a joint bid.\n\n(i)\nThe 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.\n\n(j)\nThe 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.","path":["Title 47. Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]","Chapter 3. Budget and Financial Management; Borrowing; Deposit of Funds.","Subchapter III-A. Financial Institutions Deposits and Investments."],"source_url":"https://code.dccouncil.gov/us/dc/council/code/sections/47-351.04","current_through":"2026-08-20 (D.C. Law 26-175)","vintage":"","retrieved_at":"2026-08-29T05:44:07Z","sha256":"042fbd65c30715b4b2bd065f85a5d6e61eb60607f1257cef458fe56d5d3898cc","source_id":"us-dc","stale":false,"prev":"us-dc/d.c.-code-47-351.03","next":"us-dc/d.c.-code-47-351.05"},"notice":"GroundRules: Original legal text. Not legal advice."}