Corpus Christi (Texas) Regional Transportation Authority issued an RFP for at least one firm to provide investment advisory and management services for the authority's $23 million general account assets, confirmed Martha King, buyer in the contracts department.
Incumbent American Bank is invited to rebid.
The RTA's funds are typically invested in U.S. Treasuries, agencies, certificates of deposits and money market funds. The primary investment objectives are the “preservation of principal, maintenance of sufficient liquidity and a reasonable and competitive return,” according to the RFP.
The RFP is available on the RTA's website.
Proposals are due by 4 p.m. CDT March 26. Interviews will be conducted that week with a decision expected on May 5.
The contract is for two years with a possible two-year extension. The selected firm or firms will serve as fiduciaries, according to the RFP.