Fairbanks, Alaska, is searching for a custodian for its $135 million permanent fund.
The city issued an RFP because the contract of current custodian KeyTrust will expire Dec. 31, said Christina Rowlett, the city's risk manager/purchasing analyst, in an email.
The firm is invited to rebid, Ms. Rowlett said.
The fund was created in 1996 from the net proceeds of the sale of the Fairbanks Municipal Utility System and the continuing sales of other city real estate to provide funding for capital and operating assets as well as the preservation of assets for future city generations.
The RFP is available on the city of Fairbanks' website. Proposals are due at 2 p.m. Alaska Daylight Time on Sept. 16. A selection is expected sometime in October.
