District of Columbia § 47-351.04 Eligibility requirements; bidding; awards process.

District of Columbia Statutes

§ 47-351.04 — Eligibility requirements; bidding; awards process.

District of Columbia § 47-351.04

Title 47Taxation, Licensing, Permits, Assessments, and Fees. [Enacted title]

Ch. 3Budget and Financial Management; Borrowing; Deposit of Funds.

Subch. III-AFinancial Institutions Deposits and Investments.

This text of District of Columbia § 47-351.04 (Eligibility requirements; bidding; awards process.) is published on Counsel Stack Legal Research, covering District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

D.C. Code § 47-351.04 (2026).

Text

(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 § 4

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(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.