Advertisement for Qualifications and Proposals for Bank Depository Services And Letter of Credit
Advertisement for
Qualifications and Proposals for Bank Depository Services
And Letter of Credit for
Cleveland-Cuyahoga County Port Authority
Cleveland, Ohio
NOTICE IS HEREBY GIVEN that on June 12, 2025, the Board of Directors of the Cleveland-Cuyahoga County Port Authority (CCCPA) will be designating its public depository(ies) of active and interim monies for the five-year period beginning July 20, 2025 pursuant to Ohio Revised Code Chapter 135. The aggregate maximum amount of active funds that has been estimated by the Board of Directors to be available for deposit in one or more accounts at any one time during that period is $35 million. The aggregate maximum amount of interim funds that has been estimated by the Board of Directors to be available for deposit in one or more accounts at any one time during that period is $15 million. Additionally, the CCCPA is seeking proposals from qualified financial institutions to provide a $12 million Program Reserve Letter of Credit (“LC”) that will be used to enhance the Port Authority’s Bond Fund Program with a negotiable, but expected, term of 3 years, effective no later than December 1, 2027.
Solicitation Schedule
RFQP Issue Date: May 09, 2025
Deadline for Submitting Questions: May 23, 2025, 5:00 PM (EST)
RFQP Response Due Date: June 04, 2025, 5:00 PM (EST)
Contact: Carl Naso (216) 377-1340
or Carl.Naso@portofcleveland.com
Please visit the CCCPA’s website, portofcleveland.com, to obtain a copy of the RFQP
and for more detailed information.
Under no circumstance will the CCCPA be responsible for any cost incurred by any
respondent in responding to the RFQP.
Neither the Respondent nor its agents, lobbyists, attorneys or other parties representing
the interests of the Respondent shall contact members of the CCCPA Board of Directors
with regard to this project or process. Any such contact shall be grounds for automatic
disqualification of the potential Respondent and its proposal.