County Treasurer seeks proposals from financial institutions
BOONVILE — Cooper County Treasurer, Stanley Serck, will be requesting proposals from the local financial institutions to serve as the depository for Cooper County funds.
The Cooper County treasurer solicits requests for proposals from local financial institutions every four years. The county treasurer seeks proposals from financial institutions that specify the interest rates that will be paid on county funds held by the financial institutions. Also, the county asks the financial institutions to list the type of services that will be provided to the county and at what cost, as part to the final agreement.
The county may request the depository to assist the county in making profitable investments from time to time.
The county’s account structure is substantial. The county has 10 checking accounts while the Cooper County General Fund has 40 funds maintained in it. There are 10 warrant categories issued by the county clerk.
It is a complex system requiring expertise on the part of the depository working in conjunction with Serck.
Financial institutions interested in submitting proposals should watch the Boonville Daily News legal section for the posting of the bid proposals.