Request for Proposal – Banking Services for Line of Credit Provider

Town of Halifax, Virginia

Request for Proposal – Banking Services for Line of Credit Provider

Closing Date: July 24, 2015 at 5:00 PM EDT

All proposals must be received by the closing date and time to be considered.


One (1) original and (4) copies

of each proposal shall be mailed or delivered to:

Town of Halifax

Town Treasurer

70 South Main Street

Post Office Box 627

Halifax, Virginia 24558

The intent of this Request for Proposal is to contract with a single banking institution to provide The Town of Halifax, Virginia ("the Town"), a political subdivision of the Commonwealth of Virginia, a Line of Credit with annual renewal terms and conditions. The Line of Credit will be used for the purchase of products and services related to specific projects which will be repaid with monthly installments and under the terms of the agreement. The agreement will stipulate fees and costs (if any) associated with the unused portion (balance) as well as the interest rate on the borrowed amount. Interest rate calculation methodology (fixed or variable) shall be clearly identified and described as part of the terms set forth in the agreement. The Town is seeking a Line of Credit with the following attributes:

• $250,000 Line of Credit

• The Line of Credit will be available for borrowing, re-paying, or re-borrowing until the maturity date

• The Line of Credit will be unsecured.

The banking services shall be provided for an initial period of three years beginning approximately August 31, 2015.

The Town of Halifax reserves the right to award this contract in part or in whole as deemed in the best interest of the Town.

One (1) original and four (4) copies of the proposal must be submitted in a sealed envelope/package marked

"Request for Proposal-Banking Services/Line of Credit Provider Contract for the Town of Halifax, Virginia". No fax proposals will be accepted.

The Halifax Town Council Finance Committee will make recommendations using an evaluation process of its choosing and reserves the right to make the determination of reasonable offers and to waive informalities and/or irregularities and to accept or reject any or all offers. Proposals shall be as thorough and detailed as possible so that the Town may properly evaluate the capabilities of the offeror to provide the required services.

All inquiries for information regarding procurement procedures, selection criteria, proposal submission requirements, or other fiscal/administrative concerns shall be directed to:

Carl Espy, IV Halifax Town Manager

Post Office Box 627

70 South Main Street

Halifax, Virginia 24558

E-mail This email address is being protected from spambots. You need JavaScript enabled to view it.

Phone: 434-476-2343

Fax: 434-476-6344