Municipal banking services must now be evaluated every four years (Public Chapter 277 of 2019)

Banking services must be evaluated at least every four years and proposals must be from at least two banks. This requirement is the result of Public Chapter 277 which was signed into law on May 2, 2019 by the governor.  The statute requires a contract for banking services be based on the evaluation of proposals, which should be documented for audit purposes. A detailed Q & A and a sample form for requesting quotes for bank services are available to download from this record.

In addition to these resources, an MTAS CityByte on the topic is available here: https://kate.tennessee.edu/MTAS/docs/Courses_2018/public_chapter_277/story_html5.html